C ommissioning

Once a potential project has been sufficiently described in outline, and its priority, risk and value have been assessed, it may be commissioned. This involves making financial provision for:

e the first stage; e the whole project.

Both figures may be derived from the project outline, and although they may be based on some big assumptions, they are currently all that the organisation has on which to make projections. The first stage will require funding to explore more fully the nature of the initiative so that, among many other things, a better expression of the budget it will need can be gained. Meanwhile, the high figure in the project outline will have to serve as a guide. Under no circumstances should the budget for the whole project be given to the project management team. Funds should be provided in stages to maintain control of the emerging project.

As identified earlier, the management of the conception of a project and its subsequent governance cannot be provided adequately by the business-as-usual structure. Projects, portfolios and programmes cannot thrive in silos, so those who are to participate in project management at any level must understand and act according to a commonly agreed set of responsibilities.

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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