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	<title>PMServicesNW &#187; Initiation</title>
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		<title>Understanding Your Project</title>
		<link>http://www.pmservicesnw.com/2011/05/understanding-your-project/</link>
		<comments>http://www.pmservicesnw.com/2011/05/understanding-your-project/#comments</comments>
		<pubDate>Tue, 03 May 2011 02:22:21 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Initiation]]></category>
		<category><![CDATA[w5h2 questions]]></category>

		<guid isPermaLink="false">http://www.pmservicesnw.com/?p=2785</guid>
		<description><![CDATA[By Ray Myers, Jr., PMP Here are 7 questions that will help you understand your project.  These questions are sometimes referred to as the W5H2 questions. Consider answering these questions in your Project Charter. Why is this project needed? What work will the project produce? When will the work be completed? Who is responsible for the project? Where they are organizationally located? How will the project work be accomplished? How much of each resource (people, hardware, software, materials) is required to accomplish the project work?   About the Author: Ray Myers, Jr. is a PMP certified project manager with over 20 years’ experience planning and managing technology projects.  Contact Ray at www.pmservicesnw.com Article source: www.pmservicesnw.com &#169;2012 PMServicesNW. All Rights Reserved..]]></description>
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		<title>Project Initiation Checklist</title>
		<link>http://www.pmservicesnw.com/2010/12/project-initiation-checklist/</link>
		<comments>http://www.pmservicesnw.com/2010/12/project-initiation-checklist/#comments</comments>
		<pubDate>Sun, 12 Dec 2010 21:50:34 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Initiation]]></category>
		<category><![CDATA[initiation checklist]]></category>
		<category><![CDATA[project initiation checklist]]></category>

		<guid isPermaLink="false">http://www.pmservicesnw.com/?p=322</guid>
		<description><![CDATA[By: Ray Myers, Jr., PMP Every project is different from the last.  Feel free to modify this project initiation checklist as needed. Business Case Why do this project? Why do it now? What are the critical impacts? What could go wrong? What are the costs? Project justification Project Definition Project name Project goals Business requirements Technical requirements Technical specifications Key performance indicators Constraints Maximum cost Latest completion date Dependencies Project Scope Scope boundaries In-scope Out-of-scope Deliverables Project interfaces Acceptance criteria Success criteria  Schedule Start date End date Organization Resources Team size Milestones Risk Known issues Legal/regulatory Social Environmental Organizational Competitive Financial Project Manager Assigned? Approvals Sponsor Budget Acceptance About the Author: Ray Myers, Jr. is a PMP certified project manager with over 2o years experience planning and managing technology projects.   Contact Ray at wwwpmservicesnw.com Article source: www.pmservicesnw.com &#169;2012 PMServicesNW. All Rights Reserved..]]></description>
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		<title>Project Charter</title>
		<link>http://www.pmservicesnw.com/2010/12/project-charter/</link>
		<comments>http://www.pmservicesnw.com/2010/12/project-charter/#comments</comments>
		<pubDate>Fri, 10 Dec 2010 21:43:48 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Initiation]]></category>
		<category><![CDATA[Project Charter]]></category>
		<category><![CDATA[Project Planning]]></category>

		<guid isPermaLink="false">http://www.pmservicesnw.com/?p=302</guid>
		<description><![CDATA[By: Ray Myers, Jr., PMP Charters vary in specific content, but most project charters include the following sections: Project objective statement Project priorities High-level scope statement, describing all expected deliverables Description of the expected users or customers The business case for the project (benefit or return on investment analysis) Rough cost estimates Target milestones and deadlines Project leader and initial staffing information Identified dependencies Key constraints and assumptions Known issues and high-level risks Stakeholder approval to proceed   About the Author: Ray Myers, Jr. is a PMP certified project manager with over 2o years experience planning and managing technology projects.   Contact Ray at wwwpmservicesnw.com Article source: www.pmservicesnw.com &#169;2012 PMServicesNW. All Rights Reserved..]]></description>
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		<title>ROI</title>
		<link>http://www.pmservicesnw.com/2010/11/planning-roi/</link>
		<comments>http://www.pmservicesnw.com/2010/11/planning-roi/#comments</comments>
		<pubDate>Wed, 17 Nov 2010 17:22:39 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Earned Value]]></category>
		<category><![CDATA[Initiation]]></category>
		<category><![CDATA[PMI]]></category>
		<category><![CDATA[PMP]]></category>
		<category><![CDATA[Project Planning]]></category>
		<category><![CDATA[Return on Investment]]></category>
		<category><![CDATA[ROI]]></category>
		<category><![CDATA[ROI evaluation]]></category>
		<category><![CDATA[ROI formula]]></category>

		<guid isPermaLink="false">http://www.pmservicesnw.com/?p=202</guid>
		<description><![CDATA[By: Ray Myers, Jr., PMP Definition:  Return on Investment, or ROI is a performance measure used to evaluate the net benefit of a project to the performing organization.  ROI is usually expressed as a percentage. Every organization has a wish list of projects that they would like to be implemented, but funding and resource limitations usually restrict what can actually be done.  Most organizations use ranking tools to evaluate the potential benefits versus the cost of implementation to assist in project selection. ROI is arguably the most popular metric to use when comparing the potential benefits of number of projects.  It is commonly used by organizations to assist as a project selection tool because it can be used to rank the potential payback in terms of the net benefit to the organization if the project was actually implemented.  ROI calculations typically do not include ongoing business or maintenance operations as part of the calculation. How to Calculate ROI Most companies measure ROI performance over a 3 year period or less in terms of today’s dollars.     Gain from Project = the total benefit of the project in dollars over a 3 year period Cost of Project = the total [...]]]></description>
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		<title>Ready, Set, Start Your Project</title>
		<link>http://www.pmservicesnw.com/2010/10/ready-set-start-your-project/</link>
		<comments>http://www.pmservicesnw.com/2010/10/ready-set-start-your-project/#comments</comments>
		<pubDate>Thu, 28 Oct 2010 11:44:50 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Initiation]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[Project Initiation]]></category>
		<category><![CDATA[Project Planning]]></category>

		<guid isPermaLink="false">http://www.pmservicesnw.com/?p=2116</guid>
		<description><![CDATA[By Ray Myers, Jr., PMP Congratulations!  You have been assigned to manage your next project and you’re eager to get started with planning. There’s a lot to be done, build the WBS, schedule the work, assemble the implementation team, and meet with the client.  But with so much to do, what should you do first?  Here is a simple check list to help you get started.  Each project is different; feel free to add to this list or make modifications to suit the needs of your project. Confirm Your Authority This is probably the most important step when starting a new project.  You want be sure that you have the authority to manage the project budget and make project related decisions as you proceed through the planning and implementation phases.  Get a copy of the project charter and be sure it shows you as the project manager.  If a project charter doesn’t exist, write one and get it signed by the project sponsor.  Make sure that you get it in writing because “a verbal contract isn’t worth the paper it’s written on.”  Another way of making the point is, “what is not on paper has not been said.” Understand the [...]]]></description>
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		<title>Document Project Assumptions</title>
		<link>http://www.pmservicesnw.com/2010/09/document-project-assumptions/</link>
		<comments>http://www.pmservicesnw.com/2010/09/document-project-assumptions/#comments</comments>
		<pubDate>Tue, 28 Sep 2010 04:06:56 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Initiation]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[document assumptions]]></category>
		<category><![CDATA[document project assumptions]]></category>
		<category><![CDATA[project assumptions]]></category>

		<guid isPermaLink="false">http://www.pmservicesnw.com/?p=1936</guid>
		<description><![CDATA[By Ray Myers, Jr., PMP Early in the initiation or planning phases of a project, the project manger should document all project assumptions.  Before we discuss documenting assumptions, we should be sure that we understand what they are. The American Heritage dictionary defines the word assumption to be: Something taken for granted or accepted as true without proof; a supposition; a presumption. Experienced project managers define assumptions in stronger language based on the root word assume.  “Ass – u – me, or assumptions make an ass out of you and me.” So an assumption is something accepted as true without proof and has the potential of causing a great deal of embarrassment. In practice, assumptions are bits of information that we assume to be true upon which we build our project plans.  Assumptions are frequently made on budgets, schedules, resources, clients and expectations without firsthand knowledge or confirmation.  If we build our project plans on unconfirmed assumptions, we are actually placing our projects and our reputations at great risk. That’s why we document all assumptions early in the project. Assumptions are typically documented in one or more places.  You can usually find project assumptions in the project charter, the project [...]]]></description>
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		<title>Cost Estimate Accuracy</title>
		<link>http://www.pmservicesnw.com/2010/08/cost-estimate-accuracy/</link>
		<comments>http://www.pmservicesnw.com/2010/08/cost-estimate-accuracy/#comments</comments>
		<pubDate>Tue, 31 Aug 2010 22:38:24 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Cost]]></category>
		<category><![CDATA[Initiation]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[Cost Estimate Accuracy]]></category>
		<category><![CDATA[project cost estimtes]]></category>

		<guid isPermaLink="false">http://www.pmservicesnw.com/?p=556</guid>
		<description><![CDATA[By: Ray Myers, Jr., PMP The accuracy of project cost estimates varies depending on position in the project life cycle. Rough Order of Magnitude (ROM) Very early in the project ROM estimates are used for selection decisions Accuracy is usually plus/minus 50%, but could range from -25% to +75% Budgetary Early in the project Budgetary estimates are used for initial budget planning Accuracy is typically -10% to +25% Definitive Near start of the project This is a refined estimate with sufficient detailed for purchases and project control Accuracy is usually-5% to +10%   About the Author: Ray Myers, Jr. is a PMP certified project manager with over 2o years experience planning and managing technology projects.   Contact Ray at wwwpmservicesnw.com Article source: www.pmservicesnw.com &#169;2012 PMServicesNW. All Rights Reserved..]]></description>
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		<title>Financial Analysis</title>
		<link>http://www.pmservicesnw.com/2010/08/financial-analysis/</link>
		<comments>http://www.pmservicesnw.com/2010/08/financial-analysis/#comments</comments>
		<pubDate>Mon, 30 Aug 2010 22:21:49 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Initiation]]></category>
		<category><![CDATA[financial analysis]]></category>
		<category><![CDATA[project financial analysis]]></category>
		<category><![CDATA[projet selection analysis]]></category>

		<guid isPermaLink="false">http://www.pmservicesnw.com/?p=551</guid>
		<description><![CDATA[By: Ray Myers, Jr., PMP Financial considerations are an important consideration in selecting projects.  Three common methods to determine projected financial value of projects are: Net Present Value (NPV) analysis Return on Investment (ROI) Payback Analysis About the Author: Ray Myers, Jr. is a PMP certified project manager with over 2o years experience planning and managing technology projects.   Contact Ray at wwwpmservicesnw.com Article source: www.pmservicesnw.com &#169;2012 PMServicesNW. All Rights Reserved..]]></description>
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