Venture Management Project Initiation Selecting .


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Summer 2005. 2. Session Objectives. Task initiationSelecting ProjectsProject CharterWashington Mercy Hospital contextual analysis. Venture Management Processes
Transcripts
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Extend Management Project Initiation & Selecting

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Session Objectives Project start Selecting Projects Project Charter Washington Mercy Hospital contextual investigation

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Project Management Processes & IT PM Phases

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Project Initiation: Strategic Planning First step in starting undertakings: take a gander at the 10,000 foot view, association\'s vital arrangement Strategic arranging includes deciding long haul business targets IT anticipates ought to (must) bolster vital & money related business destinations

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Schwalbe: Why Firms Invest in IT

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Identifying Potential Projects Many associations take after an arranging procedure for selecting IT anticipates First build up an IT key arrangement in view of association\'s general key arrangement Then perform business region examination Then characterize potential tasks Then select IT anticipates & relegate assets

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IT Planning Process

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Selecting Projects Usually a bigger number of activities than time & assets accessible to execute them Important to take after legitimate process for selecting IT anticipates to take a shot at Methods incorporate concentrating on wide needs, sorting ventures, budgetary strategies & weighted scoring models

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Focus on Broad Organizational Needs Often hard to give solid legitimization to numerous IT anticipates, yet everybody concurs they have a high esteem "It is ideal to gauge gold generally than to check pennies decisively" Three vital criteria for ventures: There is a requirement for venture There are assets accessible There\'s a solid will to make extend succeed

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Financial Analysis of Projects Financial contemplations are regularly an imperative thought in selecting ventures Three essential techniques for deciding the anticipated budgetary estimation of activities: Net present esteem (NPV) examination Return on speculation (ROI) Payback investigation

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Net Present Value Analysis Net present esteem (NPV) investigation: strategy for computing expected net fiscal pick up or misfortune from venture by reducing all normal future money inflows & outpourings to present point in time Projects with positive NPV ought to be considered if monetary esteem is key basis The higher the NPV, the better

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Schwalbe: Net Present Value Example Excel record

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Weighted Scoring Model Weighted scoring model: gives precise procedure to selecting ventures in light of different criteria First distinguish criteria vital to venture choice process Then allot weights (rates) to every paradigm so they indicate 100% Then dole out scores to every rule for every venture Multiply the scores by weights and get add up to weighted scores The higher the weighted score, the better

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Schwalbe: Sample Weighted Scoring Model for Project Selection Excel document

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Selecting Projects (cont.) Buss\' Grid Approach extend determination group matrices with criteria, high-medium-low criteria by and large budgetary, specialized, improving center abilities, authoritative fit against cost audit recommendations, then snappy aggregate judgment Poor Man\'s Hierarchy framework with criteria look at every venture against each other venture dole out 1 or 0, whole outcomes Frame

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Project Charters After choosing what venture to deal with, it\'s vital to formalize ventures Project Charter is archive formally perceiving presence of venture & gives guidance on venture\'s goals & administration Key venture partners ought to sign venture sanction to recognize concurrence on need & goal of venture

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Project Charters Unfortunately creators differ on the subtle elements: Schwalbe Marchewka Verzuh

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Schwalbe: Sample Project Charter

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Schwalbe: Sample Project Charter (cont.) Roles and Responsibilities:

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Purpose of Project Charter (Marchewka) more thorough approach Document the venture MOV Define extend foundation Summarize points of interest of venture plan Define parts and duties Show express duty to venture Set out venture control components

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What Should be in a Project Charter? Extend Identification Project Stakeholders Project Description Measurable Organizational Value (MOV)

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What Should be in Project Charter? – cont\'d Project Scope Project Schedule Project Budget Quality Issues Resources

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What Should be in a Project Charter? – cont\'d Assumptions and Risks Project Administration Acceptance and Approval References Terminology

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Project Rules (Verzuh #4) Project achievement requests objectives concurred by all partners control of extension administration bolster Project sanction brief, abnormal state archive formally building up venture comprehended & marked by every single key partner

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Project Rules (cont.) Statement of Work (SOW) NOT regular use of term per Verzuh sets up principles of diversion objectives, limitations, achievement criteria arrange, formally concur in front of amusement? why not a portion of arranging stage?

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Project Planning Framework

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Scope Planning and the Scope Statement An extension proclamation is an archive used to create and affirm a typical comprehension of the venture scope. It ought to incorporate a venture support a brief depiction of the venture\'s items a synopsis of all venture deliverables an announcement of what decides extend achievement

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Establish Initiate Charter builds up venture Next must rival different activities for rare assets Prioritize – go or no go? Proceed Begin Analysis Phase needs prerequisites nitty gritty SOW

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Washington Mercy Hospital Case Study Hospital contract with DCS State of craftsmanship patient data framework <3 sec reaction Add walking surgery focus Goes to intervention Management & extend issues Technical issues Blame – duty?

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