 Projects are one of crucial factors which contributes change and improvement of world. No matter whether goal is to split the atom, introduce new Windows software, constructing one more Trump Tower at another country, or organize next Formula games, good designed project and effective management of it can turn scary ideas to the great achievements. For instance, Apple’s development of IPod or IPad tablets was just an idea or intention at the beginning, however when realizing todays success of Apple, it becomes certain that due to effective planning, control and implementation, IPod and IPad are incredibly popular products and main contributors to the firm’s profit. For this r
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 Before starting the paper, I would like to tell real story about the sponsorship. Once, I and my team had met to Kapital Bank’s the director of the marketing department in order to get sponsorship for our project, I could not forget her impression. She said: “Firstly, have you got an appointment in advance? Do you have a charter of your project? Guys, do you think that you have a chance to get any sponsorship from our bank?”
Before meeting with sponsors, the projects must have their project charter because of preventing them from big financial issues. The basic purpose of a project charter is to authorize the project manager to start the approved project and allow him to use organizational resources to accomplish the obj
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 At previous papers we have seen what project and project management are and what is project management life cycle and its phases. In this paper I would like to focus more on human factor in project management and clarify one of its stake holders.
Stakeholders have varying levels of responsibility and authority when participating on a project. This level can change over the course of the project’s life cycle. Their involvement may range from occasional contributions in surveys and focus groups to full project sponsorship which includes providing financial, political, or other support. Some stakeholders may also detract from the success of the project, either passively or actively. Stakeholder identification is a continuous process throughout the entire project life cycle. Identifying stakeholders, understanding their relativ
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 Too often, when we say ‘project sponsor’ we think of a person who is responsible who is securing project funds and has a benefit in a case of success of the project. However, in reality the engaged executive sponsor can mean the difference between success and failure. Before discussing the topic in more details, let me tell you a story of one project which demonstrated how crucial the role of the sponsorship is.
The sponsor, let’s call him Mike, was a division manager with 30 years dedicated to the same company. He himself proposed a very good project to outsource half of his division and create a new organization which will hold all assets. For the organization that would be a perfect project because it aligns with the organizational strategy. Moreover, if the project succeeded it would result in cost reduction, improved service levels
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