What is CBA’s Project Methodology?
Project Management is a methodology for achieving defined objectives by planning, monitoring and controlling a series of interrelated activities under constrains of cost, time, resources and technology. Effective Project Management requires a detailed plan for the philosophy to be implemented throughout the organization.
The initiation process “recognizes that a project should begin and commits the organization to do so.” It is the process of planning to plan.
The project’s mission, goals, objectives and scope are determined. A project charter and work breakdown structure can be developed. Defined and repeatable processes are determined and established, becoming the foundation for success.
The planning processes “devise and maintain a workable scheme to accomplish the business need that the project was undertaken to address.”
The scope of the project is further defined to produce the deliverables and/or elements of measurement. The work breakdown structure will be utilized to identify the work to be done, gain the participation of those best qualified to do the work, and to develop appropriate cost and schedule objectives.
The execution processes “coordinate the people and the other resources to carry out the plan.”
The scope of the project is continually verified and monitored to ensure the quality of the deliverables. Individual and group skills are developed to enhance project performance. The baseline project plan is recorded.
The controlling processes “ensure that the project objectives are met by monitoring and measuring progress and taking corrective action when necessary.”
It is essential to measure the variance of the performance plan against the baseline project plan. Status is communicated and changes are managed and evaluated, then necessary corrective actions are taken to achieve the objectives.
The closing Processes “formalize acceptance of the project or phase and bring it to an orderly end.”
The closing of a project commences with the customer’s formal acceptance of the project’s results. It also consolidates the various inputs of the project’s life cycle to document the project’s successes, opportunities and lessons learned.