Bus 475 week 4 apply project plan

Running head: PROJECT OBJECTIVES AND METRICS 1

PROJECT OBJECTIVES AND METRICS 4

Project Objectives and Metrics

University of Phoenix

Gbenga Adeogun

Fritz Hibbler

BUS/475

November 11, 2019

Project Objectives and Metrics

Explaining why the opportunity/threat was selected, and how it is anticipated to benefit the organization

It is important to carry out SWOT analysis before rolling out projects. This allows the project manager to identify areas that need to be improved. By implementing correct techniques for analysis, it is possible to ensure that the project will be completed on time and within budget. The opportunity was selected to assist the project manager to improve the whole project. This will beneficial to the organization in that it better efficiency. Threats were identified to help the organization to mitigate risks that are associated with various project tasks and optimize the whole process. Every aspect of risks involved is evaluated and each risk can be eliminated prior to its occurrence. Selecting opportunity is also anticipated to benefit the organization in that it gives a strong conclusion on what the project will end up.

Creating at least 3 measurable project objectives based on my analyses

Project Objective

Project Manager

Project Coordinator

Project Evaluator

To ensure successfully roll out the of project within one week

C

R

I

To ensure that half of the project deliverables are met within a period of three months

C

A

C

To ensure that the project is completed by the end of six months

A

I

R

R: Responsible

A: Accountable

C: Consulted

I: Informed

Explaining why the objectives are appropriate for the project

The objectives are appropriate for the project because it will guide all the project activities. The objectives will also ensure optimal use of resources allocated for the project. It will also act as a benchmark to measure whether the all the deliverables have been met. These are also appropriate for the project in that it will be used to monitor the schedule of the project to ensure that the project runs as scheduled hence avoiding situations of having to extend the schedule of the project due to delays.

Developing two metrics to evaluate achievement of each of the project objectives

There are two metrics that will be used to evaluate achievement of each of the project objectives. They include value of deliverables/output and satisfaction of the project stakeholders. These are appropriate metrics for each of the objectives. The final outcome of the project is supposed to meet the initial aims of the project as outlined in the scope of the project (Lock, 2017; Rose, 2013). The project’s objectives will be considered to have been achieved if the value of the output is high. On the other hand, if the value of the deliverables is low then it means that the some of the objectives of the project have not been met. The second metric that will be used to evaluate the achievement of the project objectives is the stakeholder satisfaction. If the project stakeholders are interviewed and they state that they are satisfied with the deliverables of the project, then that particular project will be deemed to have achieved its objectives (Mir & Pinnington, 2014). On the other hand, if the stakeholders are unsatisfied with the outcome of the project, then it means that some of the objectives were not achieved. These metrics are therefore important in that they are used to measure extent to which project objectives have been met. These metrics are also appropriate in that they guide the manner in which project tasks are to be executed (Raymond & Bergeron, 2008).

References

Lock, D. (2017). The essentials of project management. Routledge.

Mir, F. A., & Pinnington, A. H. (2014). Exploring the value of project management: linking project management performance and project success. International journal of project management, 32(2), 202-217.

Raymond, L., & Bergeron, F. (2008). Project management information systems: An empirical study of their impact on project managers and project success. International Journal of Project Management, 26(2), 213-220.

Rose, K. H. (2013). A Guide to the Project Management Body of Knowledge (PMBOK® Guide)—Fifth Edition. Project management journal, 44(3), e1-e1.