Project Management

Project Management

1. Written Strategy document

   • Indentification of objectives of the project
   • Statement of how the objectives will be met
   • Quality standards
   • Project sponsor's role
   • Role of third parties
   • Financial and economic objectives
   • Details of expected cost of the project
   • The financing policy
   • The policy for arbitration/dealing with legal issues
   • The need for insurance/reinsurance
   • The technical policy
   • The structured breakdown of the work to be completed under the project
   • The key milestones and timeframe for reviewing the project
   • The risk management policy
   • The communications policy
   • The information technology policy

2. Initial appraisal

   • To assess if project meets minimum criteria
   • Consider opportunity costs, synergy/compatibility,political constraints
   • NPV, IRR, Payback period, Option pricing techniques