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HW 1: Project Initiation & Payback Analysis
Create a project initiation form (using a standard format and font that you design) which includes the elements described below.
â€¢ Product scope description â€“ describes the characteristics of the product, service, or result that the project was undertaken to create.
â€¢ Project objectives â€“ include the measurable success criteria of the project (can include cost, schedule and quality targets).
â€¢ Project requirements â€“ the conditions or capabilities that must be met or possessed by the deliverables of the project to satisfy a contract, standard, specification, or other formally imposed documents.
â€¢ Project boundaries â€“ identifies generally what is included within the project. Also states explicitly what is excluded from the project.
â€¢ Project deliverables â€“ tangible, verifiable work products.
â€¢ Product acceptance criteria â€“ describes the process and criteria for accepting completed products.
â€¢ Project constraints â€“ lists and describes the specific project constraints associated with the project that limits the teamâ€™s options
â€¢ Project assumptions â€“ lists and describes the specific project assumptions associated with the project scope and the potential impact of those assumptions if they prove to be false.
â€¢ Stakeholder analysis â€“ includes a list of all of the stakeholders affected by the project. Search the book materials, and the Internet for potential fields to be included such as: name, position, influence (positive/negative), level of power, level of trust, etcâ€¦
â€¢ Cost-benefit analysis â€“ The high-level project budget (costs), benefits (inflows or recurring cost savings) and payback period of the project.