1.2 What is a Project?

A project is a unique endeavor to produce a set of deliverables within clearly specified time, cost and quality constraints. Projects are different from standard business operational activities as they: Are unique in nature. hey do not involve repetitive processes. !very project underta"en is different from the last, whereas operational activities often involve underta"in# repetitive $identical% processes &ave a defined timescale. Projects have a clearly specified start and end date within which the deliverables must be produced to meet a specified customer requirement &ave an approved budget. Projects are allocated a level of financial e'penditure within which the deliverables must be produced to meet a specified customer requirement &ave limited resources. At the start of a project an a#reed amount of labor, equipment and materials is allocated to the project (nvolve an element of risk. Projects entail a level of uncertainty and therefore carry business ris" Achieve beneficial change. he purpose of a project, typically, is to improve an or#ani)ation throu#h the implementation of business chan#e.

1.3 What is Project Management?

Project *ana#ement is the s"ills, tools and mana#ement processes required to underta"e a project successfully. Project *ana#ement comprises: A set of skills. +pecialist "nowled#e, s"ills and e'perience are required to reduce the level of ris" within a project and thereby enhance its li"elihood of success A suite of tools. ,arious types of tools are used by project mana#ers to improve their chances of success. !'amples include document templates, re#isters, plannin# software, modelin# software, audit chec"lists and review forms A series of processes. ,arious mana#ement techniques and processes are required to monitor and control time, cost, quality and scope on projects. !'amples include time mana#ement, cost mana#ement, quality mana#ement, chan#e mana#ement, ris" mana#ement and issue mana#ement. ,isit www.method-./.com

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2. Project L
he !ollo"ing diagram outlines the Project Li!e#$%cle .
he Project 1ifecycle consists of four phases:

Project &nitiation he (nitiation Phase is the first phase in the project. (n this phase a business problem $or opportunity% is identified and a business case which provides various solution options is defined. A feasibility study is then conducted to investi#ate the li"elihood of each solution option addressin# the business problem and a final recommended solution is put forward. 2nce the recommended solution is approved, a project is initiated to deliver the approved solution. A 3Project 4harter5 is completed, which outlines the objectives, scope and structure of the new project, and a Project *ana#er is appointed. he Project *ana#er be#ins recruitin# a project team and establishes a Project 2ffice environment. Approval is then sou#ht to move into the detailed plannin# phase. ,isit www.method-./.com

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Project Planning 2nce the scope of the project has been defined in the Project 4harter, the project enters the detailed plannin# phase. his involves the creation of a: Project Plan $outlinin# the activities, tas"s, dependencies and timeframes%

6esource Plan $listin# the labor, equipment and materials required% 7inancial Plan $identifyin# the labor, equipment and materials costs% 8uality Plan $providin# quality tar#ets, assurance and control measures% 6is" Plan $hi#hli#htin# potential ris"s and actions ta"en to miti#ate them% Acceptance Plan $listin# the criteria to be met to #ain customer acceptance% 4ommunications Plan $listin# the information needed to inform sta"eholders%

 Procurement Plan $identifyin# products to be sourced from e'ternal suppliers%.

At this point the project has been planned in detail and is ready to be e'ecuted. Project ()ecution his phase involves the e'ecution of each activity and tas" listed in the Project Plan. 9hile the activities and tas"s are bein# e'ecuted, a series of mana#ement processes are underta"en to monitor and control the deliverables bein# output by the project. his includes the identification of chan#es, ris"s and issues, the review of deliverable quality and the measurement of each deliverable bein# produced a#ainst the acceptance criteria. 2nce all of the deliverables have been produced and the customer has accepted the final solution, the project is ready for closure. Project $losure Project 4losure involves releasin# the final deliverables to the customer, handin# over project documentation, terminatin# supplier contracts, releasin# project resources and communicatin# the closure of the project to all sta"eholders. he last remainin# step is to underta"e a Post (mplementation 6eview to quantify the overall success of the project and list any lessons learnt for future projects. he followin# sections provide a more detailed description of each phase and list document templates which provide the Project *ana#er with #uidance on how to complete each phase successfully. ,isit www.method-./.com

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he initiation phase essentially involves the project 3start:up5. (t is the phase within which the business problem or opportunity is identified, the solution is a#reed, a project formed to produce the solution and a project team appointed. he followin# dia#ram depicts the activities underta"en:

2.1.1 +e,elop -usiness $ase

2nce a business problem or opportunity has been identified, a ;usiness 4ase is prepared. his includes: A detailed definition of the problem or opportunity

An analysis of the potential solution options available. 7or each option, the potential benefits, costs, ris"s and issues are documented. A formal feasibility study may be commissioned if the feasibility of any particular solution option is not clear he recommended solution and a #eneric implementation plan. he ;usiness 4ase is approved by the Project +ponsor and the required fundin# is allocated to proceed with the project. emplate: ;usiness 4ase

2.1.2 Per!orm .easibilit% /tud%

At any sta#e durin# $or after% the development of a ;usiness 4ase, a formal 7easibility +tudy may be commissioned. he purpose is to assess the li"elihood of a particular solution option5s achievin# the benefits outlined in the ;usiness 4ase. he 7easibility +tudy will also investi#ate whether the forecast costs are

reasonable, the solution is achievable, the ris"s are acceptable and<or any li"ely issues are avoidable. emplate: 7easibility +tudy

2.1.3 (stablish Project $harter

After the solution has been a#reed and fundin# allocated, a project is formed. he Project 4harter defines the vision, objectives, scope and deliverables for the project. (t also provides the or#ani)ation structure $roles and responsibilities% and a summari)ed plan of the activities, resources and fundin# required to underta"e the project. 7inally, any ris"s, issues, plannin# assumptions and constraints are listed. emplate: Project 4harter

2.1.0 1ppoint Project eam

At this point the scope of the project has been defined in detail and the project team are ready to be appointed. Althou#h a Project *ana#er can be appointed at any sta#e of the project, s<he will need to be appointed prior to the establishment of the project team. he Project *ana#er documents a detailed =ob >escription for each project role and appoints a human resource to each role based on his<her relevant s"ills and e'perience. 2nce the team are 3fully resourced5, the Project 2ffice is ready to be set:up.

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emplate: =ob >escription

2.1.5 /et up Project 3!!ice

he Project 2ffice is the physical environment within which the team will be based. Althou#h it is usual to have one central project office, it is possible to have a 3virtual project office5 environment, with project team members in various locations around the world. 6e#ardless of the location, a successful project office environment will comprise the followin# components: 1ocation $either physical or virtual%

4ommunications $telephones, computer networ", email, internet access, file stora#e, database stora#e and bac"up facilities% >ocumentation $methodolo#y, processes, forms and re#isters%

ools $for accountin#, project plannin# and ris" modelin#%. emplate: Project 2ffice 4hec"list

2.1.' Per!orm Phase 4e,ie"

At the end of the (nitiation Phase, a Phase review is performed. his is basically a chec"point to ensure that the project has achieved its stated objectives as planned. emplate: Phase 6eview 7orm

2.2 Planning
;y this sta#e, the benefits and costs of the project have been clearly documented, the objectives and scope have been defined, the project team has been appointed and a formal project office environment established. (t is now time to underta"e detailed plannin# to ensure that the activities performed in the e'ecution phase of the project are properly sequenced, resourced, e'ecuted and controlled.

2.2.1 +e,elop Project Plan

he first step is to document the Project Plan. A 39or" ;rea"down +tructure5 $9;+% is identified, which includes a hierarchical set of phases, activities and tas"s to be underta"en on the project. After the 9;+ has been a#reed, an assessment of the effort required to underta"e the activities and tas"s is made. he activities and tas"s are sequenced, resources are allocated and a detailed project schedule is formed. his project schedule will become the primary tool for the Project *ana#er to assess the pro#ress of the project. emplate: Project Plan

2.2.2 +e,elop 4esource Plan

(mmediately after the Project Plan is formed, it is necessary to allocate the resources required to underta"e each of the activities and tas"s within the Project Plan. Althou#h #eneral #roups of resources may have already been allocated to the Project Plan, a detailed resource assessment is required to identify the: ypes of resources $labor, equipment and materials%

otal quantities of each resource type 6oles, responsibilities and s"ill:sets of all human resources (tems, purposes and specifications of all equipment resource (tems and quantities of material resource.
A schedule is assembled for each type of resource so that the Project *ana#er can assess the resource allocation at each sta#e in the project. emplate: 6esource Plan

2.2.3 +e,elop .inancial Plan

+imilar to the 6esource Plan, a 7inancial Plan is prepared to identify the quantity of money required for each sta#e in the project. he total cost of labor, equipment and materials is quantified and an e'pense schedule is defined which provides the Project *ana#er with an understandin# of ,isit www.method-./.com

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the forecast spendin# vs. the actual spendin# throu#hout the project. Preparin# a detailed 7inancial Plan is e'tremely important as the project5s success will depend on whether or not it is delivered within the 3time, cost and quality5 estimates for this project. emplate: 7inancial Plan

2.2.0 +e,elop 6ualit% Plan

*eetin# the quality e'pectations of the customer is critical to the success of the project. o ensure that the quality e'pectations are clearly defined and can reasonably be achieved, a 8uality Plan is documented. he 8uality Plan: >efines what quality means in terms of this project

1ists clear and unambi#uous quality tar#ets for each deliverable. !ach quality tar#et provides a set of criteria and standards which must be achieved to meet the e'pectations of the customer 2utlines a plan of activities which will assure the customer that the quality tar#ets will be met $i.e. a 8uality Assurance Plan% (dentifies the techniques used to control the actual level of quality of each deliverable as it is built $i.e. a 8uality 4ontrol Plan%. 7inally, it is important to review the quality not only of the deliverables produced by the project but also of the mana#ement processes which produce them. A summary of each of the mana#ement processes underta"en durin# the e'ecution phase is identified, includin# ime, 4ost, 8uality, 4han#e, 6is", (ssue, Procurement, Acceptance and 4ommunications *ana#ement. emplate: 8uality Plan

2.2.5 +e,elop 4isk Plan

he foreseeable project ris"s are then documented within a 6is" Plan and a set of actions to be ta"en formulated to both prevent each ris" from occurrin# and reduce the impact of the ris" should it eventuate. >evelopin# a clear 6is" Plan is an important activity within the plannin# phase as it is necessary to miti#ate all critical project ris"s prior to enterin# the !'ecution phase of the project. emplate: 6is" Plan

2.2.' +e,elop 1cceptance Plan

he "ey to a successful project is #ainin# acceptance from the customer that each deliverable produced meets $or e'ceeds% his<her requirements. o clarify the criteria used to jud#e each deliverable for customer acceptance, an Acceptance Plan is produced. he Acceptance Plan provides the criteria for obtainin# customer acceptance, a schedule of acceptance reviews within which customer acceptance will be sou#ht and a summary of the process used to #ain acceptance of each deliverable from the customer.

emplate:

Acceptance

Plan

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2.2.* +e,elop $ommunications Plan
Prior to the !'ecution phase, it is also necessary to identify how each of the sta"eholders will be "ept informed of the pro#ress of the project. he 4ommunications Plan identifies the types of information to be distributed, the methods of distributin# information to sta"eholders, the frequency of distribution and responsibilities of each person in the project team for distributin# information re#ularly to sta"eholders. emplate: 4ommunications Plan

2.2.2 +e,elop Procurement Plan

he last plannin# activity within the Plannin# phase is to identify the elements of the Project which will be acquired from e'ternal suppliers to the project. he Procurement Plan provides a detailed description of the Products $i.e. #oods and services% to be procured from suppliers, the justification for procurin# each product e'ternally, as opposed to from within the business, and the schedule for procurement. (t also references the process for the selection of a preferred supplier $ ender Process% and the process for the actual order and delivery of the procured products $Procurement Process%. emplate: Procurement Plan

2.2.5 $ontract /uppliers

Althou#h e'ternal suppliers may be appointed at any sta#e of the project, it is usual to appoint suppliers after the Project Plans have been documented but prior to the !'ecution phase of the project. 2nly at this point will the Project *ana#er have a clear idea of the role of the supplier and the e'pectations for his<her delivery. A formal ender Process is invo"ed to identify a short:list of interested suppliers and select a preferred supplier to meet the procurement needs of the project. he ender Process involves creatin# a +tatement of 9or", a 6equest for (nformation and 6equest for Proposal to obtain sufficient information from each potential supplier to select a preferred supplier. 2nce a preferred supplier has been chosen, a +upplier 4ontract is a#reed for the delivery of the requisite product. emplates: +tatement of 9or", 6equest for (nformation, 6equest for Proposal, +upplier 4ontract

2.2.17 Per!orm Phase 4e,ie"

At the end of the Plannin# phase, a Phase review is performed. his is basically a chec"point to ensure that the project has achieved its stated objectives as planned. emplate: Phase 6eview 7orm

2.3 ()ecution
he !'ecution phase is typically the lon#est phase of the project $in terms of duration%. (t is the phase within which the deliverables are physically constructed and presented to the customer for acceptance. o ensure that the customer5s requirements are met, the Project *ana#er monitors and controls the activities, resources and e'penditure required to build each deliverable throu#hout the e'ecution phase. A number of mana#ement processes are also underta"en to ensure that the project proceeds as planned.

2.3.1 -uild +eli,erables

his phase requires the physical construction of each deliverable for acceptance by the customer. he actual activities underta"en to construct each deliverable will vary, dependin# on the type of project $e.#. en#ineerin#, buildin# development, computer infrastructure or business process re:en#ineerin# projects%. >eliverables may be constructed in a 3waterfall5 fashion $where each activity is underta"en in sequence until the deliverable is finished% or an 3iterative5 fashion $where iterations of each deliverable are constructed until the deliverable meets the requirements of the customer%. 6e#ardless of the method used to construct each deliverable, careful monitorin# and control processes should be employed to ensure that the quality of the final deliverable meets the acceptance criteria set by the customer. ,isit www.method-./.com

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2.3.2 Monitor and $ontrol
9hilst the Project eam are physically producin# each deliverable, the Project *ana#er implements a series of mana#ement processes to monitor and control the activities bein# underta"en. An overview of each mana#ement process follows. ime Management ime *ana#ement is the process within which time spent by staff underta"in# project tas"s is recorded a#ainst the project. As time is a scarce resource on projects, it is important to record the time spent by each member of the team on a imesheet to enable the Project *ana#er to control the level of resource allocated to a particular activity. A imesheet 6e#ister provides a summary of the time currently spent on the project and enables the Project Plan to be "ept fully up to date. emplates: ime *ana#ement Process, imesheet 7orm, imesheet 6e#ister $ost Management 4ost *ana#ement is the process by which costs $or e'penses% incurred on the project are formally identified, approved and paid. !'pense 7orms are completed for each set of related project e'penses such as labor, equipment and materials costs. !'pense 7orms are approved by the Project *ana#er and recorded within an !'pense 6e#ister for audit purposes.

emplates: 4ost *ana#ement Process, !'pense 7orm, !'pense 6e#ister 6ualit% Management 8uality is defined as the level of conformance of the final deliverable to the customer5s requirements. 8uality *ana#ement is the process by which the quality of the deliverables is assured and controlled for the project, usin# 8uality Assurance and 8uality 4ontrol techniques. 8uality reviews are frequently underta"en and the results recorded within a 8uality 6e#ister. emplates: 8uality *ana#ement Process, 8uality 6eview 7orm, >eliverables 6e#ister $hange Management 4han#e *ana#ement is the process by which chan#es to the project5s scope, deliverables, timescales or resources are formally defined, evaluated and approved prior to implementation. A core aspect of the Project *ana#er5s role is to mana#e chan#e within the project successfully. his is achieved by understandin# the business and system drivers requirin# the chan#e, documentin# the benefits and costs of adoptin# the chan#e and formulatin# a structured plan for implementin# the chan#e. o formally request a chan#e it is often necessary to complete a 4han#e 7orm. he chan#e request details may then be recorded within a 4han#e 6e#ister.

emplates: 4han#e *ana#ement Process, 4han#e 7orm, 4han#e 6e#ister 4isk Management 6is" *ana#ement is the process by which ris"s to the project $e.#. to the scope, deliverables, timescales or resources% are formally identified, quantified and mana#ed durin# the project. A project ris" may be identified at any sta#e of the project by completin# a 6is" 7orm and recordin# the relevant ris" details within the 6is" 6e#ister. emplates: 6is" *ana#ement Process, 6is" 7orm, 6is" 6e#ister &ssue Management (ssue *ana#ement is the method by which issues currently affectin# the ability of the project to produce the required deliverable are formally mana#ed. After completion of an (ssue 7orm $and lo##in# the details within the (ssue 6e#ister%, each issue is evaluated by the Project *ana#er and a set of actions underta"en to resolve the issue at hand. emplates: (ssue *ana#ement Process, (ssue 7orm, (ssue 6e#ister Procurement Management

Procurement *ana#ement is the process by which product is sourced from an e'ternal supplier. o request the delivery of product from a supplier, a Purchase 2rder must be approved by the Project *ana#er and sent to the supplier for confirmation. he status of the purchase is then trac"ed usin# a Procurement 6e#ister until the product has been delivered and accepted by the project team. emplates: Procurement *ana#ement Process, Purchase 2rder 7orm, Procurement 6e#ister 1cceptance Management Acceptance *ana#ement is the process by which deliverables produced by the project are reviewed and accepted by the customer as meetin# his<her specific requirements. o request the acceptance of a deliverable by the customer, an Acceptance 7orm is completed. he Acceptance 7orm describes the criteria from which the deliverable has been produced and the level of satisfaction of each criterion listed. emplates: Acceptance *ana#ement Process, Acceptance 7orm, Acceptance 6e#ister $ommunications Management 4ommunications *ana#ement is the process by which formal communications messa#es are identified, created, reviewed and communicated within a project. he most common method of communicatin# the status of the project is via a Project +tatus 6eport. !ach communication item released to the project sta"eholders is captured within a 4ommunications 6e#ister. emplates: 4ommunications *ana#ement Process, Project +tatus 6eport, 4ommunications 6e#ister

2.3.3 Per!orm Phase 4e,ie"

At the end of the !'ecution Phase, a Phase review is performed. his is basically a chec"point to ensure that the project has achieved its stated objectives as planned. emplate: Phase 6eview 7orm

2.0 $losure
7ollowin# the completion of all project deliverables and acceptance by the customer, a successful project will have met its objectives and be ready for formal closure. Project 4losure is the last phase in the project and must be conducted formally so that the business benefits delivered by the project are fully

reali)ed by the customer.

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2.0.1 Per!orm Project $losure
Project 4losure involves underta"in# a series of activities to wind up the project, includin#: assessin# whether the project completion criteria have been met

identifyin# any outstandin# items $activities, ris"s or issues%

producin# a hand:over plan to transfer the deliverables to the customer environment listin# the activities required to hand over documentation, cancel supplier contracts and release project resources to the business 4ommunicatin# closure to all sta"eholders and interested parties. A Project 4losure 6eport is submitted to the 4ustomer and<or Project +ponsor for approval. he Project *ana#er is then responsible for underta"in# each of the activities identified within the Project 4losure 6eport on time and accordin# to bud#et. he project is closed only when all activities identified in the Project 4losure 6eport have been completed. emplate: Project 4losure 6eport

2.0.2 4e,ie" Project $ompletion

he final activity underta"en on any project is a review of its overall success by an independent resource. +uccess is determined by how well it per!ormed a#ainst the defined objectives and con!ormed to the mana#ement processes outlined in the plannin# phase. o determine performance, a number of questions are posed. 7or e'ample: >id it result in the benefits defined in the ;usiness 4ase?

>id it achieve the objectives outlined in the Project 4harter? >id it operate within the scope of the Project 4harter? >id the deliverables meet the criteria defined in the 8uality Plan? 9as it delivered within the schedule outlined in the Project Plan? 9as it delivered within the bud#et outlined in the 7inancial Plan?
o determine conformance, a review is underta"en of the level of conformity of the project activities to the mana#ement processes outlined in the 8uality Plan. he above results, "ey achievements and lessons learnt are documented within a Post (mplementation 6eview report and presented to the Project +ponsor for approval

3. 1ppendi)
Projects faster and easier than before. (t saves you time and effort by #ivin# you: emplates to create deliverables

.orms to resolve ris"s and issues Plans to schedule tas"s @ resources Processes to monitor project delivery 4eports to communicate status $harts to control project chan#e Procedures to improve quality $hecklists to measure success.
(t also helps %ou get a head#start because:

-. (t tells you which deliverables to create .. (t e'plains how and when to create them /. !ach template is pre:formatted A. (t includes practical e'amples, tips @ hints B. Cou simply open the templates in 9ord or !'cel and !ill in the gaps. Cou5ll complete tas"s faster and ma"e your life much easier than before. ;y #ettin# a head start every time you start a new project tas", you5ll save an enormous amount of time deliverin# your project. Project Management &nstitute
Pamela Dood, ,ice President, ;uffalo E+A

3.2 8lossar% o! erms

he followin# definitions apply to terminolo#y used within the Project 1ifecycle: 1cceptance Management he process by which deliverables produced by the project are reviewed and accepted by the customer as meetin# their specific requirements 1cceptance Planning he process of identifyin# the milestones, criteria and standards for the acceptance of project deliverables by the customer -usiness $ase A document outlinin# the justification for the initiation of a project. (t includes a description of the business problem $or opportunity%, a list of the available solution options, their associated costs and benefits and a preferred option for approval $hange Management he process by which chan#es to the project scope, deliverables, timescales or resources are formally defined, evaluated and approved prior to implementation $ommunications Management he process by which formal communications messa#es are identified, created, reviewed and communicated within a project $ommunications Planning he process of identifyin# the type and re#ularity of information to be provided to all project sta"eholders to "eep them informed of the pro#ress of the project $ost Management he process by which costs $or e'penses% incurred on the project are formally identified, approved and paid +eli,erable A quantifiable outcome of the project which results in the partial $or full% achievement of the project objectives +ependenc% A lo#ical relationship between two or more project activities. he four types of dependencies include: start:to:finish, start:to:start, finish:to:start, finish:to:finish .easibilit% /tud% A document which identifies each of the solution options to a particular business problem $or opportunity% and assesses the li"elihood of each option5s achievin# the desired result .inancial Planning

he process of identifyin# the financial resources required to underta"e the project. his includes a list of the types of costs to be incurred on the project $e.#. labor, equipment, materials and administration costs% and a schedule outlinin# when the respective costs are li"ely to be incurred &ssue !vents which are currently affectin# the ability of the project to produce the required deliverables &ssue Management he process by which issues are formally identified, communicated, monitored and resolved
,isit

9ob +escription A document which describes a particular role and its responsibilities within a project Milestone he reco#nition of an important event within the project, usually the achievement of a "ey project deliverable Procurement Management he process by which product is actually sourced from a preferred supplier, includin# the on:#oin# mana#ement of the supplier relationship Procurement Planning he process of identifyin# the products to be sourced e'ternally and the methods for acquirin# them Product A #ood or service which is acquired from an e'ternal supplier to assist with the production of a project deliverable Project A unique endeavor to produce a set of deliverables within clearly specified time, cost and quality constraints Project 1cti,it% A set of project tas"s which usually results in the partial $or full% completion of a project deliverable Project Li!ec%cle A series of project phases which are underta"en in either sequential or parallel order Project Management he s"ills, tools and mana#ement processes required to successfully underta"e a project Project 3!!ice he physical premises within which Project Administration staff $e.#. the Project *ana#er and support staff% reside Project Phase A set of project activities and tas"s which usually result in the completion of a project deliverable Project Plan A document which lists the phases, activities, tas"s, timeframes and resources required to complete the project

Project /chedule A series of planned dates within which activities and tas"s have to be completed to achieve project milestones Project ask A specific wor" item to be underta"en which usually results in the partial completion of a project deliverable Project eam A collation of people who report to the Project *ana#er 6ualit% he level of conformance of the final deliverable$s% to the customer5s requirements
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6ualit% 1ssurance he preventative steps ta"en to eliminate any variances in the quality of the deliverable produced from the quality tar#ets set 6ualit% $ontrol he curative steps ta"en to eliminate any variances in the quality of the deliverable produced from the quality tar#ets set 6ualit% Management he process by which the quality of the deliverables and mana#ement processes is assured and controlled for the project, usin# 8uality Assurance and 8uality 4ontrol techniques 6ualit% Planning he process of identifyin# the approach ta"en to ensure the quality of the deliverables produced by the project and of the mana#ement processes underta"en. his includes a list of the quality criteria and standards to be achieved as well as the 8uality Assurance and 8uality 4ontrol techniques to be underta"en 4equest !or &n!ormation A document which is issued by a project to a wide #roup of potential suppliers to enable those suppliers to provide summari)ed information outlinin# how they will meet the procurement requirements of the project 4equest !or Proposal A document which is issued by a project to a short:listed #roup of suppliers to enable the suppliers to submit a detailed proposal outlinin# how they will meet the procurement requirements of the project 4esource he labor, equipment and materials used to complete the activities in the Project 4esource Planning he process of identifyin# the resources required to complete the project. his includes a list of the types of resources required and a schedule providin# the use of and activities underta"en by each resource 4isk Any event which is li"ely to adversely affect the ability of the project to achieve the defined objectives 4isk Management

he process by which ris"s to the project $e.#. to the scope, deliverables, timescales or resources% are formally identified, quantified and mana#ed durin# the project. he process entails completin# a number of actions to reduce the li"elihood of occurrence and the severity of impact of each ris" 4isk Mitigation A set of actions to be ta"en to avoid, transfer or miti#ate a ris", based on its priority. his includes the preventative actions to be ta"en durin# the project to reduce the li"elihood of the ris"5s occurrin# as well as the contin#ent actions to be ta"en to reduce the impact on the project should the ris" eventuate 4isk Planning he formulation of a document which outlines the foreseeable project ris"s and provides a set of actions to be ta"en to both prevent the ris" from occurrin# and reduce the impact of the ris" should it eventuate
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/cope he total a##re#ation of deliverables to be produced by the project /olution A set of deliverables which, once combined, solve a particular business problem $or reali)e a particular business opportunity% /tage#8ate A chec"point at the end of each project phase to ensure that the project has achieved its stated objectives and deliverables as planned /tatement o! Work A document which defines the procurement requirements of the project in sufficient detail to enable potential suppliers to determine if they are able to meet those requirements /upplier $ontract An a#reement between the Project eam and an e'ternal supplier for the acquisition of a defined set of products to meet the procurement requirements of the Project ender +ocument A formal document included durin# the tender process which outlines the information required to provide the Project eam with the confidence that a supplier can meet the procurement needs of the project. he 67( and 67P are both e'amples of ender >ocuments ender Management he process by which interested suppliers are identified, evaluated and selected for the supply of products $#oods or services% to the project. his process entails formali)in# the procurement requirements and tender documentation, receivin# tender responses and selectin# a preferred supplier Project $harter A document which outlines the purpose of the project, the manner in which the project will be structured and how it will be successfully implemented ime Management he process within which time spent by staff underta"in# project tas"s is recorded a#ainst the project #2