Tips for Starting a New Project: – In order to maximize the chances of success, the launch of a project is carefully prepared. The pre-project or scoping phase is the first step required to complete a project. It is a question of defining the main lines and of knowing well the contours of the project in order to guarantee its success. At this level, you can also launch a feasibility study to verify that the project is technically feasible and economically viable. The stage of the framing allows determining the direction to follow and conditions to launch a project.
What is the Framing of a Project?
The framing consists in defining the origin, the utility, the finality and the expected benefits of the project. This stage of the preliminary project allows leaving on good bases. Once the client or project sponsor is clearly identified, it is essential to understand the client’s motivations, needs and expectations in relation to the project, as well as its strategy, current regulations and the market in order to set consistent objectives and achievable.
The Framing thus Makes it Possible to:
Determine precisely the objectives of the project in terms of expected results, deadlines and costs;
Defining the major stages of the project and their key dates;
Identify the skills, resources and human, material and financial resources needed;
Define the organization of the project, the roles and responsibilities of each;
Establish the means of communication to be set up internally with your team and externally with the client and external actors;
- Identify the main risks and prepare solutions to avoid them;
- Select key indicators to monitor and measure project performance.
Tips for Starting a New Project
Here is the key information you need to master before starting your project.
- Know the issues
Literally, a stake means “what is at stake”, that is, what is to be lost or won by carrying out an action or a step, here a project. The stakes can be material such as making profit, or intangible, for example to improve one’s reputation.
To determine what is at stake in your project list? And what the implementation of the project represents for the different stakeholders (the client, the company, your team, yourself).
- Define objectives
This is the purpose of the project. It is essential to define the objectives with all the actors of the project in order to gain general support. To determine the goal (s) accurately, you should ask yourself the right questions: What exactly do you expect from this project? What results do you want to achieve? What means and timeframe do you have to achieve this? Are these goals achievable for you and your team?
Remember: a goal must be SMART.
- S pecific and simple: the aim must be linked to the project, precise and understandable by all.
- M easurable: it must be quantifiable or classifiable in order to measure its progress and whether the goal is achieved or not.
- A cceptable / ambitious / achievable: it must be accepted by the team and motivating.
- R ealistic: be realistic to ensure the success of the goal.
- T emporel: the target must be delimited in time with a deadline.
Once you know the issue and the objectives, you will have a concrete and detailed vision of your project. The whole team can then move in the same direction.
- Understand the context
This is the totality of circumstances or the situation in which the project occurs. The economic, political, geographical, commercial or cultural context may influence the implementation of the project. It is therefore important to understand the context surrounding the project.
- Know the market
Before starting your project, it is imperative to study the market. Taking the example of a new toothbrush, it is important to know the state of the market (potential or existing) and its trends, your target consumers, expectations and needs, competitive pricing, distribution channels, standards and legislation, etc.
A good knowledge of your market helps you to better position your project and to limit the risks of failure.
- Identify risks
It is rare that a project runs exactly as planned. Unpredictable events can occur at any time. Anticipating risks is already reducing their likelihood of occurrence. It is therefore essential to set up risk management at the pre-project stage. To do this, you must identify potential blocking points to monitor them throughout the project, and take action to avoid or eliminate them if necessary.
- List the required skills
To succeed in your project and to achieve the objectives it is imperative to bring together a set of talents, knowledge, influences, experiences and technical know-how necessary for the project. The project manager must be surrounded by competent, competent individuals (whose competence is adapted to the needs of the project) and motivated.
- Establish the budget
It is time to determine the projected cost of your project. You must plan all expenses and revenues related to the project. Build a realistic budget by taking into account direct costs (human resources salaries, equipment purchase costs, etc.) and indirect costs (management and operating costs). Keep in mind that your budget can change throughout the project, depending on the contingencies and unforeseen circumstances.
The success of a project depends strongly on the preliminary and inescapable stage of the framing. This essential information must be defined with all the actors of the project during the framing meeting. Thus prepared, you can calmly launch your project.
Hello everyone! This is Richard Daniels, a full-time passionate researcher & blogger. He holds a Ph.D. degree in Economics. He loves to write about economics, e-commerce, and business-related topics for students to assist them in their studies. That's the sole purpose of Business Study Notes.
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