Project Management Homework

Reply to TWO discussions (200 words minimum Each).

1st discussion

Q1. Why is a Business Case developed in the project and what are the components of a Business Case?

            ANSWER:  One of the main reasons that the Business Case was developed to simplified what the project must include. Initially, the project created because during initiations phase of the life cycle of project development “the business problem or opportunity is identified; a solution is defined.” (Luong, 2011 ) Therefore, the main purpose of the business case is to state in detail what exactly the issues are, and the solution would be for the problems. The Business case can include the following information such as an elaborate statement of the what exactly the problem of the event, some verities of the solution, the revised of the benefit, cost, danger, and matter, the definition of the selected solution, and "a summarize plan for implementation." Since the business case contains much great information, one can value as a bible of a project. 

Q2. Who defines a project requirement? 

            ANSWER:  The project requirement is defining by the "project sponsor." It can be done by performing a "feasibility study," which would allow one to identify whether the project is worth to start or not. Once the project is confirmed for good to go, it can be used as a bridge to move to the next step which is the planning phase.

Q3. Discuss the various types of Requirements.

            ANSWER:  To perform the very successful project, one has to have a “clear and accurate” statement about what the particular project goal is all about. Whenever a plan prepared to communicate clearly with the team, there would be very low of misunderstanding the concept of the project among the group.

2nd Discussion

This week is all about project initiation and what it takes to start a project. Projects are performed in phases, and the first phase is the initiation phase. This portion of the project management life cycle that identifies the problem or opportunity, defines a solution, forms the project, and a project team is assembled to build and deliver the solution to the customer. (Taylor, 2007). It seeks to gain an understanding of what the business’ needs are and find direction. This is the point at which the customer, buyer, or stakeholder comes in to define the requirements. These requirements flesh out what the outcome of the project must be, what it’ll do, and what qualities it must have. (Taylor, 2007). 

The required reading lists the types of requirements as functional, non-functional and generated, but I found this to be different on PMI’s website. According to PMI, the types of requirements are business requirements, stakeholder requirements, and solution/non-functional/transition requirements. (Coventry, 2015). Business requirements are on the top of the requirements hierarchy and describe what is required from the business’ perspective. Stakeholder requirements represent the views of those of whom are at the enterprise/business/operations level of management and hold an interest in the project. They can be either internal or external stakeholders of the project. Solution or non-functional requirements are those that describe how the stakeholder wants to implement their stakeholder requirements. 

A business case includes a detailed description of the problem or opportunity, a list of all possible solutions, an in depth analysis of the benefits to the organization, costs associated, issues that may arise, risks, a description of the preferred solution, and a summarized plan for implementation. (Luong, 2013). It is created to define the problem or opportunity in detail. It identifies a solution that is preferred for the execution of the project as well as other possible ones.