Advantages And Disadvantages Of Project Preparation

The project preparation phase is an imperative period since it lays the foundation of a successful project. Project management is frequently used to ensure the execution of projects. The system is widely used for a variety of projects today. Project preparation helps in highlighting the key aspects of a project and makes it more amenable to appraisal. This stage will also help highlight the key components of a project, such as its cost, spillover effects and the environmental impact of the project

In the initial period of project management, the content of the project will be identified, the required authorizations must be obtained and the Company Master Plan and Project plan will be made or updated. A good Project Preparation will make sure

While laying down the fundamentals for the preparation of projects, two important factors need to be considered:

1) Enterprise Environment Factors: EEF = the Environment: just as you require various approaches to the managing of a project to deal effectively with different physical environments (hot or cold / wet or dry) you need different approaches to deal effectively with the cultural, political, economic and legal environments the project is operating within.

2) Organizational Process Assets (OPA) = Assets: The plans. Processes, policies, measures and knowledge base explicit to, developed by, and used by, the organization – and which you actually use in the management of the project. Most organizations have recognized a variety of templates, proforma contracts, plans, procedures, registers and assessment tools to assist in the management of the project.

Steps for Project

Since one of the most vital and problematic aspects of project management is getting assurances, the first step is to describe the planning procedure and the project plan to all important investors. It is crucial for them to understand the significance of this set of documents and to be accustomed with its content, since they will be asked to review and support the documents that affect them.

Components of the Project Plan Include:

Baselines are occasionally called performance measures, because the performance of the whole project is measured against them. They are the project 's three accepted starting points. They are used to determine whether or not the project is on track, during the implementation of the project.

Baseline management plans. These plans include certification on how alterations to the baselines will be handled during the project. Each project baseline will need to be revised and managed. Project management plans record what the project team will do when variances to the baselines arise, including what procedures will be followed, who will be informed, how the changes will be