Primary Author: Frank Parth
Audience Focus: Basic
Application Type: Practice
Venue: 2016 AACE International Annual Meeting, Toronto, ON, Canada
Abstract: All projects are subject to influences by the organization the project is being done for, from internal IT projects to bet the company projects to large megaprojects. There has been a significant amount of research on how to identify the business decisions that have the greatest impact on project success and how to mitigate the risks created by them. This paper will summarize the research, provide examples on what major organizations are doing, and identify how both the Front End Loading (FEL) approach and the Project Definition Rating Index (PDRI) can be used to identify the impacts of the early business decisions on project success. The paper will offer solutions in the areas of project planning, procurement and contracting, developing the management organization, data identification and management, and better risk management practices.
Audience Focus: Basic
Application Type: Practice
Venue: 2016 AACE International Annual Meeting, Toronto, ON, Canada
Abstract: All projects are subject to influences by the organization the project is being done for, from internal IT projects to bet the company projects to large megaprojects. There has been a significant amount of research on how to identify the business decisions that have the greatest impact on project success and how to mitigate the risks created by them. This paper will summarize the research, provide examples on what major organizations are doing, and identify how both the Front End Loading (FEL) approach and the Project Definition Rating Index (PDRI) can be used to identify the impacts of the early business decisions on project success. The paper will offer solutions in the areas of project planning, procurement and contracting, developing the management organization, data identification and management, and better risk management practices.