Why is the process of identifying and selecting projects so crucial to an organization’s success? Discuss the reasons why organizations undertake information system projects. Do you have any experience as a team member in making go/no go type of project decisions? If so, why? If not, why not? How would you justify your decision?
In my opinion, the most important phase of a project is the planning phase. If a project is not well-planned, the execution will likely have many problems, which may lead to missing deadlines, cost overruns, and even a poorly working system. If a project is well-planned, it will lead to an smoother execution, enable the Project Manager to stay within time and budget constraints and result in a good system. you really don’t want to walk into any large project without first having a good plan to work with, however we all know with any major undertaking suprises will occur and even the best laid out plan can crumble with poor execution. Having said that I feel execution and planning can almost be considered partners or equals.
Why is the process of identifying and selecting projects so crucial to an organizations success?
This is important to success because you want to have a project that is going to help your organization succeed. When you select a project you do not want to take on an expensive project that is not going to help your business bring in any future income. Was it really worth it?? More than likely not. You need to make sure that the project that is selected is going to improve and benefit the company as a whole.
The purpose of identifying and selecting projects is to assess beginning situation and establish system objectives. Project ideas must be consistent with company policies and needs. It is important to identify the business problem or opportunity before you can define a solution and form a project to deliver the solution. The steps of this process consists of identifying potential projects, classifying and ranking projects, and selecting a project for development.
A strategic approach for selecting a project provides better results for organizations by minimizing risk and maximizing the potential benefit. Since there are limited resources and infinite project possibilities, selecting a project could be the most important step in the project life cycle. New projects arise from opportunities or threats, so it is important that the organization chooses the best possible response throughout careful analysis. Any identification and selection of project is vital because the wrong project can impact the organization’s bottom line. So, selecting the right project that meets the strategic goals, company’s vision and mission is crucial. After all, if a project cannot meet any of those three parameters, a person should question why the project is even an option for completion. There must be a feasibility study as well to make sure the project is possible to undertake.
Planning saves organizations a lot of money, time and failures. They may have to sacrifice the time to plan but in the long run they will end up saving more time than to try to execute a project that’s not well thought out. One process that I handle daily at my current job was changed and I recommended that changes be made in the system to accommodate the changes. Currently when an adjustment is made to a customer’s account the system will combine (lump sum) all the adjustments that fall under the adjustment type each day. The current system will post a lump sum amount to the general ledger. The problem is that the offsetting entry is booked individually. So it is a manual process to break down the lump sum and match it to the individual booked offsetting entry. So once my managers understood that I was spending an enormous amount of my day manually matching the entries, they talked to IT about modifying the software to put the sales in individually. Once that is done then match rules can be made to automatically match the items, with very little to no manual matching. This project will allow me to focus my energy in other areas.
Project initiation or planning is the most important phase of a project. Project planning consists of gathering and analyzing relevant information to map out the steps for project implementation. Generally, project planning involves establishing project scope, objectives, resources and their roles, cost estimates, time estimates, and ways to carry out the project. With proper planning, projects are more likely to succeed by avoiding problems that may cause failure. Such problems may include unclear roles and responsibilities, poor quality implementation, and insufficient dissemination.
First and formost, identifying and selecting the project is imperative because an organization must determine what type of information and data is important. The company must identify who needs access, how long to keep the information, and how the different software platforms communicate. In my company, we manufacture a great deal of industrial products for nuclear power plants. This induces a tremenduous amount of record keeping and traceability for every component in every finished product. This information must be retained forever. Additionally, generating reports from this data is vital. Of course, I wasn’t around when the information systems were developed, but I can tell you that the level of detail that is transferred and stored is incredible.
planning is very important, but from that selection has to be just as important in terms of what you have chosen and what you are going to plan. Different methods to include brainstorming, looking over historical data, surveys, and understanding exactly what is needed and properly planning a project is the the base for everything to stem from. I just did a paper on the Denver International Airport fiasco, one of the most unsuccessful projects ever attempted as a result of poor planning and selection. During that phase of the project they overlooked many things that caused the project to go over budget by billions.
Process of identifying and selecting projects is the most important phase of the project. The projects with the higher ROI or benefits given a set of resources are likely to be ideal candidates for the Organizations. Project identification process involves rigorously comparing all competing projects. Sometimes, the organization may want to replace or extend an existing system in order to gain needed information or to provide a new service to customers. Success of these projects provides productivity or efficiency gain to the organization which ultimately results in higher profit margin or higher revenue for the company.
The most important phase in the planning process would have to be the planning phase. In this phase project managers establish certain requirements/ milestones that must be met by the end of each phase in order for the next phase to proceed.
The planning stage is by far the most important phase of any project. “If you fail to plan, then you plan to fail” is a quote that I have heard throughout my 20 plus year career. You need to plan or engineer out anything that will cause concerns or questions later in the project. If your gut tells you that this is going to be trouble then trust it and raise a red flag. You need to make sure that all the details are hammered out in the beginning to make it easier to identify problems in the future. I have found this advice very helpful in my career. As I stated in the last week post, “the devil is in the details” If you don’t plan well then all you will be doing is putting out fires in crisis mode to get the project going if you can and then it will most likely late and over budget.
planning phase of a project would be most important. This phase would be where the details are laid out. The project scope is described in more detail so the team understands exactly what the end result should be. A timeline is developed with detailed tasks to be completed at certain deadlines. Further risk assessments are done, projected budgets are set, and resources are outlined. If this phase is done properly and with enough attention to detail, the following execution phase would come a bit easier. Not that there won’t be any hiccups or obstacles during the execution phase, but at least the odds of something going wrong can be minimized.
Why is the process of identifying and selecting projects so crucial to an organization’s success Answer