Develop project management plan Outputs

The output is a project management plan.

Project management plan—In practice, the project management plan is a guide for the definition and control of the work. Therefore, the plan must include control points, e.g., project reviews. These review points ensure that management can authorize movement from one phase or stage to another. Reporting and monitoring strategies, including the use of earned value to integrate cost, schedule, and quality performance, should be made explicit.

The plan should also address accountability, particularly in view of the recent legislative and regulatory requirements of the Sarbanes-Oxley Act. This relatively new legislative requirement, now backed up by regulatory provisions and stemming from the corporate abuses of the late 1990s, makes internal control a mandatory part of any new product project. In fact, the price of disconnected and inconsistently applied efforts throughout a project and its interfaces, and lack of financial tracking systems that provide for audits, could be businesswide. Compliance with Sarbanes-Oxley therefore is not a choice, but rather a requirement, and the plan should state standards for estimating costs, tracking the costs, and relating costs to work performed, and the integrity of the closeout procedure and invoices to customers for work performed.

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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