Memo #2. Q1. An effective sponsor or champion is a core component for the successful delivery of the project. The success or the failure of the project itself depends on how sponsor handles the project and communicates it with the project manager and team. Good sponsor is important for the number of reasons. First of all, sponsors provide direction of the project, they have a clear vision of the task and objectives of the project. Sponsor has to ensure that direction of the undergoing project should link with the organization strategy and the mission statement. In this way, sponsors act as a connection between corporate direction and administration of the projects. But the sponsor himself has a bigger responsibility starting with the feasibility through to seeing the benefits gained to achieve the expected value defined in the business case. Usually sponsors are executive managers in the company, that have been appointed to be a sponsor or have decided to be one and take an active part in the delivering the project. As an executive or senior managers they have a resource power, so are able to influence others, project managers or …show more content…
At the beginning of the project, sponsor has to do the evaluation and approval of the project plan. At the later stages of the project implementation, sponsor will be accountable to review the charter and approve change request. So it’s crucial to provide feedback to shareholders on status report, and with sponsors power he can make sure that reports reached necessary investors. There would be other managers involved in the project, so an effective sponsor will overview that managers are meeting their obligations, evaluate their responsibilities. An effective sponsor is needed for the success of the project manager, sponsor’s involvement is critical because he guides and supervises the project
The two role that shared responsibilities are the project executive sponsor and the project leader. In the sponsor role, the stages initiating, planning, executing, and closing are performed or overseen by the project as well. They share responsibilities in numerous ways. The sponsor is ultimately accountable for the success or failure of the project. The sponsor has to ensure the project is focused on achieving its business objectives and delivering the forecast benefits. They also have to ensure that the project gives value for money and adopts a cost effective approach which balances the demands of the business, users, and suppliers. This role includes securing budgets and ensuring appropriate financial controls are in place. Appointing the project manager and its team including members of the project board. They also advocate the project both eternally and internally. Sponsors also support the project manager to successfully deliver the project and they sign off on project deliverables. (Kilmoski,
Typically, project managers will be appointed at the beginning of a project and will assist the client in developing the project brief and then selecting, appointing and co-ordinating the project team. He or She will then usually represent the client throughout the full development process managing the inputs from the client, consultants, contractors and other stakeholders.’
In any project it is important to do a stakeholder analysis in order to be able to identify the stakeholders and prioritise them by power and their interest to the success of the strategy or project. Once you identify them there is need to fully understand what motivates them in this project and what might be done to get their much needed support, thereby reducing obstacles to successful implementation. There maybe need to dangle carrots in order to get buy in from key stake holders. Incentives and rewards goes a long way in motivating other stakeholders to get results oriented effort.
In addition to inform senior management for planning and implementation of the project by building commitment and getting approval
It seems that people time and again have the wrong impression of what a project manager does. It is not about being able to create a compound plan to hang on the wall. It is not about setting up conference after conference. This is about understanding a big business objective, understanding the technology involved, being able to communicate at an assortment of levels, being able to encourage and direct people, being able to handle the constant worry and troubles, and being structured enough to make certain the whole thing that needs to get completed, gets completed. What this comes down to is a project manager should be able to meet or exceed all of the stakeholder's expectations. The project manager also must be able to get others to work with limited authority throughout the duration. "Doing most of the work yourself is a poor long-term development strategy and will never solve the problem." (Lombardo & Eichinger)
However, once you have your plan in place, the right people to support your plan, it can be a rewarding and successful experience. When developing a policy, choosing stakeholders are very important. With the right stakeholders are chosen, there is better lines of communication and contribution goes directly to policy and program development. More importantly, the right stakeholders, increase accountability, improve access to decision making and encourages integrated and comprehensive solution to complex policy issues. Lastly, by involving some type of incentive it will get the attention of the community
The role of stakeholders in project management can range from supporting activities such as defining project goals to assessing project risk (Silvius & Schipper, 2014). One common trend in the literature is that no matter what the stakeholder role is, stakeholders should be identified early so that the interactions with the company add value (Fageha, & Aibinu, 2013; Lucae, Rebentisch, & Oehmen, 2014; Turner & Zolin, 2012; Silvius & Schipper, 2014). When the project manager neglects to identify stakeholders at the start of a project, having positive interactions with stakeholders might be limited as the project matures (Hagen & Park, 2013; Allen et al., 2014). Turner and Zolins (2012), Lucae, Rebentisch, Fageha and Aibinu (2013), and Oehmen (2014), agree that stakeholders should be identified in the initial stages of managing projects, mainly during the project planning stage; however, this is difficult to achieve due to the multiple meanings of the term stakeholder (Fageha, & Aibinu, 2013; Doh & Quigley, 2014). In the project planning stage, the following activities must be fulfilled: scope planning, stakeholder identification, stakeholder engagement, communication planning, cost and schedule estimation, funding, procurement planning, quality planning, resource planning, and risk management planning (Fageha, & Aibinu, 2013; Lucae, Rebentisch, & Oehmen, 2014; Poplawska et al., 2015). Stakeholder identification and stakeholder engagement
At first should the terminology be defined. A project is "a unique set of coordinated activities, with a definite start and finishing point, undertaken by an individual or organisation to meet specific objectives within defined, scheduled costs and performance parameters" (BS 6079-1,200:2, Material of Sunderland 2005, page 5). The individual who undertakes the organisa-tion is usually the project manager. This person plays a special role and is supported by his team.
Customers and suppliers are certainly affected by the success or failure of company performs but not as directly as shareholder and employees. The local communities that have a more interest in what manager do and how manager do. The purpose of the manager for stakeholder is to serve a wider range of inte... ... middle of paper ... ... all vital for company’s perform.
9. A statement to whether the sponsor submitting the request is the real party in interest of the development and the intended or actual production and sales of the product.
The product owner is usually a key stakeholder in the project. The project owner has a very essential role. The product owner must have a vision of what they are trying to build. This means that they will be the one who leads the projects direction. The product owner must also be able to communicate effectively with his team to convey the vision of the project. This is a very important task because the development team needs to have an und...
... into picture. They will help us market and promote the product so well that we are sure of getting good responses even before the product reach the houses. They will use the best strategies to advertise the product so that people are completely aware about the product and are ready to use. They will ensure us of the best platform to launch and everything is in the budget that we as a company had chalked out. Our human resource department is handling the transportation and warehousing very well. They have the best 3rd party transportation company for their transportation by trucks. The warehouses are well built near the railway stations and have the most skilful of fork lifters and crane operators. We have the best labour that are capable of handling every good or bad situation very well, resulting in an accident free loading of our first ever launched energy drink.
As a Business Improvement Manager the aim is to drive implementations strategically, with top management visibility and the use of consistent and standardised project management practices and to deploy these competencies with the goal of maximising organisational value. There is an opportunity in the delivery of projects for organisations to add value to better serve their clients and compete in the marketplace. To use the influence of relationships to have active and engaged sponsors who serve as advocates for project initiatives that lead the organisational change towards business excellence.
This forms the basis of the project. It serves as a means to justify the project and why it needs to be done in first place. It also includes identifying the beneficiaries and doing a complete stake holder analysis to help clear what objectives will the project achieve as it will progress. It further includes means end analysis. These activities combined lead to the formulation of a project proposal in the end. This proposal is used by the project manager to pitch for project funding.
Loyal investors act as partnership; provide sustainable power of financial support, continuous development in new market, more benefit into the company, strong cash