We now have enough information to finalize the VSM scope document. You' l l add final touches to this document, then present to the sponsors: Rolf Montenegro, executive director of RLV and executive project sponsor; Brittany Salvage, director of the RLV marketing group, and Pamela Brown, director of project management for Prestige Hotels. The latter two will be considered project sponsors but will not be the executive sponsor. Recall that a sponsor ' s definition is one who is empowered to authorize the project team to utilize the resources it needs to get the project' s deliverables created and deployed.
Note the budget bonus boundaries—there ' s no reward for coming in two months early or 25 percent under budget. Too much ahead of schedule or under budget probably signals a loss in quality.
Was this article helpful?
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.