Summarize. Summarizing the project means explaining the aims, outcomes, significance and benefits. You must use 3-5 sentences (or less) for writing the summary. The title of your project is to be placed at the beginning of the paper. Avoid using unnecessary and parenthetic words and expressions.
Define. Defining the project means explaining what purpose to reach and what need to address. Under the purpose you write about the main intent for project startup. Under the need you must define the business problem to be solved or the opportunity to be exploited,
Justify. Justifying the project means proving that the project underpins some business goals and is significant to success of the performing organization. You must identify business drivers that lead change to the project and determine how the project impacts the performance of the organization.
Evaluate. Evaluating means identifying the benefits to be gained upon successful completion of the project. You need to use the results of cost-benefit analysis to explain the ratio between the benefits to be gained and the cost to be covered.
Approach. Approaching the project means selecting, approving and describing a method that is efficient for implementing the goals and objectives of the project within the current operational environment. You must have an approach along with a methodology that explains how to phase the project and what lifecycle to be followed.
Schedule. Scheduling means performing a preliminary estimation of time needed for the project. You’ll need to develop a timeline that shows the total estimated amount of working hours required. Note that the timeline will be used later during the planning phase to develop the project schedule and estimate activity durations.
Wrap. Wrapping the project is a slangy word I use here to explain the need for stating the requirements for your project. Wrapping means identifying all those limits, demands, needs, and other parameters that define the user expectations and interests as to the product and the implementation process. The requirements wrap the project making it limited and bounded in terms of the user expectations.
Compensate. Compensating the project means identifying the results to be gained as a compensation of all those resources and effort invested in the implementation process. You need to create a description of the desired outcomes that are anticipated upon successful completion of the project. This data will be used later in developing the deliverables list.
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