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Financial Control Of Projects

Financial Control Of Projects
By The Office of Government Commerce – OGC, UK

Purpose

Established and effective cost control systems and procedures, understood and adopted by all members of the project team, entail less effort than ‘crisis management’ and will release management effort to other areas of the project.

Fitness for purpose checklist

  • The prime objective of the government’s procurement policy is to achieve best VFM.
  • To exercise financial/cost control, project sponsors need to review and act on the best and most appropriate cost information. This means that they should receive regular, consistent and accurate cost reports that are both comprehensive in detail and presented in a manner that permits easy understanding of both status and trends. Reports need to be tailored to suit the individual needs of each project and should always be presented to give a comparison of the present position with the control estimate.
  • Reports to project sponsors normally give only the status of the project overall.
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Quality Management Strategy

Quality Management Strategy
By The Office of Government Commerce – OGC, UK

Purpose

  • Quality Management recognise a number of management principles that can be used by senior management as a framework to guide their organisations towards improved performance. The principles cover: customer focus, leadership, involvement of people, process approach, system approach to management, continual improvement, factual approach to decision making, and mutually beneficial supplier relationships.
  • Quality Management provides suitable guidance to build upon Quality Assurance standards to achieve business benefits for all stakeholder groups and focuses on continual performance improvement to sustain customer satisfaction. The core concepts are:
  • continuous process improvement – driven by senior management, focused on critical process areas with explicit improvement goals
  • customer focus – recognising both internal and external ‘customers’ and their needs and providing value to the user of the product
  • defect prevention and non-compliance – seeking to prevent non-conformance issues arising with products and services early in the development cycle and being proactively engaged in prevention
  • universal responsibility – recognising that quality is not only the responsibility of quality assurance teams or reviewers, but should be totally pervasive in all aspects of the business, with everyone seeking ways to improve the quality of their own products and services.
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Role and Responsibilities of the Business Change Manager

Role and Responsibilities of the Business Change Manager
By The Office of Government Commerce – OGC, UK

Role of the Business Change Manager

The business change manager role is primarily benefits-focused. The role is responsible, on behalf of the Senior Responsible Owner, for defining the benefits, assessing progress towards realisation, and achieving measured improvements.

The business change manager role must be ‘business side’ in order to bridge between programme and business operations.

Where the programme affects a wide range of business operations, more than one business change manager may be appointed, each with a specific area of the business to focus on.

Specific Responsibilities of the Business Change Manager

  • Ensuring that the interests of the sponsoring group are met by the programme
  • Obtaining assurance for the sponsoring group that the delivery of new capability is compatible with the realisation of benefits
  • Working with the programme manager to ensure that the work of the programme, including the scope of each project, covers the necessary aspects required to deliver the products or services that will lead to operational benefit(s)
  • Working with the programme manager to identify projects that will contribute to realising benefits and achieving outcomes
  • Identifying, defining and tracking the benefits and outcomes required of the programme
  • Ensuring that maximum improvements are made in the existing and new business operations as groups of projects deliver their products into operational use
  • Leading the activities associated with benefits realisation and ensuring that continued accrual of benefits can be achieved and measured after the programme has been completed
  • Establishing and implementing the mechanisms by which benefits can be delivered and measured
  • Taking the lead on transition management; ensuring that business as usual is maintained during the transition and the changes are effectively integrated into the business
  • Preparing the affected business areas for the transition to new ways of working
  • Optimising the timing of the release of project deliverables into the business operations
  • Ensuring that a skilled and experienced contract manager or contract management team is in place to manage contracts in accordance with contract management best practice

Skills and Attributes of the Business Change Manager

The individual(s) appointed as business change manager should be drawn from the relevant business areas. Read the Complete Article

Benefits Realisation Plan – Program Management

Benefits Realisation Plan – Program Management
By The Office of Government Commerce – OGC, UK

Purpose of the Benefits Realisation Plan

Used to track realisation of benefits across the programme

Fitness for Purpose Checklist

  • Are the dates by which the benefits should accrue clearly understood and realistic?
  • Are the dates by which the benefits should accrue in line with the programme milestones and relevant project deliverables?
  • Are the actual benefits accruing compared to the projected benefits?

Suggested Content in the Benefits Realisation Plan

  • Schedule detailing when each benefit or group of benefits will be realised
  • Identification of appropriate milestones when a programme benefit review could be carried out
  • Details of any handover activities, beyond the mere implementation of a deliverable or output, to sustain the process of benefits realisation after the programme is closed.

Source Information

  • Benefit Profiles
  • Programme Plan

Notes

The Benefits Realisation Plan should clearly show what will happen, where and when the benefits will occur and who will be responsible for their delivery. Read the Complete Article

The Project Portfolio Document

The Project Portfolio Document
By The Office of Government Commerce – OGC, UK

Purpose of the Project Portfolio

To list the projects that are or will be part of the programme.

Fitness for Purpose Checklist

  • Have all component project been identified?
  • Do the objectives of each project contribute to the delivery of the aim of the programme?
  • Are the interdependencies of the projects clearly understood?
  • Is the high level project information included?

Suggested Content in the Project Porfolio

  • List of component projects
  • Outline project information such as target timescales, resources required and objectives

Source Information

  • Blueprint

Notes

There should be a set of Project Plans for the constituent projects in each of the authorised change programmes. Each project plan should be supported by a high level business case and should clearly show the timescales, resource requirements and interdependencies of the project activities. Associated with each project plan will be a set of activities which recognise and seek to mitigate external risks (Risk Plan). Read the Complete Article

Project Initiation Documentation – PID

Project Initiation Documentation – PID
By The Office of Government Commerce – OGC, UK

Purpose of the Project Initiation Document

The purpose of the Project Initiation Documentation is to define the project, in order to form the basis for its management and an assessment of its overall success. The Project Initiation Documentation gives the direction and scope of the project and (along with the Stage Plan) forms the ‘contract’ between the Project Manager and the Project Board.

The three primary uses of the Project Initiation Documentation are to:

  • Ensure that the project has a sound basis before asking the Project Board to make any major commitment to the project
  • Act as a base document against which the Project Board and Project Manager can assess progress, issues and ongoing viability questions
  • Provide a single source of reference about the project so that people joining the ‘temporary organization’ can quickly and easily find out what the project is about, and how it is being managed.
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Contractor Selection in Project Management

Contractor Selection in Project Management
By The Office of Government Commerce – OGC, UK

Purpose of the Contract Selection

To encourage the most effective and cost effective means of engaging consultants and contractors to carry out necessary services and works.

Fitness for Purpose Checklist

  • quality of supplies, materials and results;
  • the value of the finished product to the business;
  • life-cycle costs not just initial costs; and,
  • appointing, retaining and improving the best team to manage and deliver a project.

Suggested Content

The aim of the “Contractor Selection” is to achieve best “value for money”, whilst ensuring that the objectives of any commission are properly met.

There are two aspects to the type of contract which may be adopted for a particular works contract or project strategy:

  1. the basis on which the price is to be sought; using:
    • bills of quantities,
    • schedules of rates, or
    • simple lump sum contracts;
  2. the type of contract including:
    • traditional lump sum contracts,
    • design and build contracts,
    • prime cost contracts,
    • management contracts,
    • construction management contracts,
    • design and manage contracts,
    • extension contracts and variations,
    • term contracts.
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Project Cost Report

Project Cost Report
By The Office of Government Commerce – OGC, UK

Purpose of the Project Cost Report

To provide an up-to-date record of commitments and expenditure within budgets so that unexpected over/under run costs do not result, ensuring that all transactions are properly recorded and authorised and, where appropriate, decisions are justified.

Fitness for Purpose Checklist

Reports show cost forecasts for each approval stage, supplemented by evidence that costs achieve value for money – that is, they reflect the most economically advantageous price compatible with the specified quality; reports provide an accurate and timely summary of full and proper accounts that monitor all transactions, payments and changes relating to the project.

Suggested Content in the Project Cost Report

A form containing columns headed as follows:

  • Cost centre code/description
  • Approved budget
  • Expenditure to date
  • % complete
  • Estimated final cost
  • Variation + or (-)

Notes

Project cost reports are an essential component of cost management. Read the Complete Article

Stakeholder Map

Stakeholder Map
By The Office of Government Commerce – OGC, UK

Purpose of the Stakeholder Map

  • Identifies all interested parties both inside and outside the programme; may also include individuals or groups outside the business.
  • Used to ensure that all stakeholder interests are catered for by the programme, including keeping them informed and receiving feedback.

Fitness for Purpose Checklist

  • Have all the stakeholders and their interests been identified?
  • Is there agreement from all interested parties about the content, frequency and method?
  • Has a common standard been considered?
  • Has time to carry out the identified communications been allowed for in the stage plans?

Notes

  • It is important to determine the interests of all stakeholders, who may represent different customer groups, and to resolve conflicting requirements.

Suggested Content in the Stakeholder Map

  • Matrix showing individual stakeholders or groups of stakeholders and their particular interests in the programme
  • Communication route and frequency for each stakeholder or groups of stakeholders

Source Information of the Stakeholder Map

  • Blueprint
  • Programme Plan
  • Organisational structures of organisations involved in the programme

The Office of Government Commerce – © Crown Copyright 2009 Read the Complete Article

Project Issue Log

Project Issue Log
By The Office of Government Commerce – OGC, UK

Purpose of the Project Issue Log

The purpose of the Project Issue Log is to:

  • Allocate a unique number to each Project Issue
  • Record the type of Project Issue
  • Be a summary of all the Project Issues, their analysis and status.

Fitness for Purpose Checklist

  • Does the status indicate whether action has been taken?
  • Are the Project Issues uniquely identified, including to which product they refer?
  • Is access to the Issue Log controlled?
  • Is the Issue Log kept in a safe place?

Suggested Content in the Project Issue Log

  • Project Issue number
  • Project Issue type (Request for Change, Off-Specification or a general issue such as a question or a statement of concern)
  • Author
  • Date identified
  • Date of last update
  • Description
  • Status

Source Information of the Project Issue Log

Project Issues may be raised by anyone associated with the project at any time. Read the Complete Article

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