Project initiation and overview of project planning
Chapter 7: Project initiation
One of the important concepts that was worth to study in this chapter is that one has to build a business case during this stage. Initially, that is, before undertaking this course, I thought that creating a business case comes in as part of the planning phase. Apart from that, this chapter also helped in giving me clarity on the fact that the alternative solutions to the problem at hand should be outlined at this phase. This should then be accompanied by the cost-benefit analysis of such options. On outlining the available solutions, I came to realize that a preferred solution should be selected, after which a proper description to it should then be given.
Still under this phase, the project managers are expected to outline the project requirement. I thought this should come as part of the resource planning phase. The other thing that struck my mind is that a feasibility study has to be done after the project has received approval from the sponsors. The end of initiation does not necessarily mean that the project has to move to the next stage of planning. From the chapter, it is revealed that the project, after its initiation, may be rejected in case the feasibility study indicates that the project is not worth to be undertaken (Watt, 2013). Apart from that, I also came to realize that the business case should be thoroughly drafted. This is to ensure that it passes the feasibility test. The business case should clearly outline the objectives of the project, the need to undertake the project, and the impact that the project will have on the beneficiaries to it.
Last but not least, I also didn’t know that some techniques have to be involved in making decisions regarding the project. One of the techniques that I came to realize was the weighted decision matrix. This technique is so comprehensive in such a way that it puts into consideration the needs of the project, the solutions, and at the same time, matches the needs to the available solutions. Lastly, financial consideration is the other important aspect of project initiation. I initially thought that this only falls under planning, precisely on budgeting.
Chapter 8: Overview of project planning
In this chapter, the most important concept that I familiarized with was that of scope development. Without the scope, it would be difficult to measure the deliverables of the project. Apart from that, I also noted that communication planning was more important in project planning. It is only through communication that the implementers of the project will know what is expected of them.
However, what I thought was more important is the aspect of outlining the project requirements in the project initiation phase. This is because it is through them that the objectives of the project may be attained. I am intending to use the concept of outlining project requirements in my future projects, whereby I will highlight that which should be in place for the objectives to be met. Besides that, budget planning, which is part of project planning, is the other concept that I thought to be important. I will use this concept in future in highlighting the expected costs of the project at hand, while of course, considering inflation among other factors.