Project Mgmt 1

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MBA 572

Project Management Worksheets

Reprinted from The Project Manager’s Partner, Second Edition, by Michael Greer, copyright 2001. Reprinted by permission of the publisher, HRD Press, Amherst, MA, (800) 822-2801. www.hrdpress.com

Worksheet: My Unique Project Life Cycle

Instructions: This tool will help you to create your own custom-tailored project life cycle—one that best reflects the unique requirements of your project’s deliverables and your organization. Refer to the first two columns as your “crib sheet,” then fill in the third column with between 3 and 7 broad phases which your project should employ. In the last column, note the key activities that will be essential to the success of each phase. (Continue on the back of the page, if necessary.)

Typical Project

Phases

Typical Project

Activities

My Project’s

Phases

My Project’s

Activities

Determine Need and Feasibility

Purpose: Confirm that project is needed, do-able; formal “go/no go” approval.

· Goal and concept definition

· Needs or market analysis

· Strategy definition

· Preliminary benefit/cost analysis

Create Project Plan

Purpose: Create formal document to guide project team as it executes project.

· Involve stakeholders in specifying and agreeing on project outcomes and methodology

· Create written record of assumptions, agreed-upon scope, resources, schedule, costs, etc.

· Obtain consensus and formal approval

Typical Project

Phases

Typical Project

Activities

My Project’s

Phases

My Project’s

Activities

Create Specifications for Deliverables

Purpose: Describe deliverables in substantial detail “on paper.”

· Create design plans, flowcharts, blueprints, media treatments, other “on paper” deliverables; descriptions and samples as appropriate

· Circulate and obtain feedback, revise, obtain formal approval

Create Deliverables

Purpose: Create prototypes, pieces; create full-blown, fully integrated deliverables

· Create all promised deliverables, in “chunks” or completely

· Provides planned services, execute planned activities, obtain formal approval

Test and Implement Deliverables

Purpose: Make sure project deliverables work as planned; turn over to sponsor for use

· Testing of deliverables (in whole or in part)

· Refinement, revision

· Full production, implementation, and final approval

SUMMARY OF KEY PROJECT MANAGER ACTIONS AND RESULTS

Below is a list of actions that project managers should take in order to successfully complete a project. Beside each action is a description of one or more specific results that the action should produce. Place a check mark (() beside each action and result that will be essential to your project’s success.

INITIATING

ACTION

RESULTS OF SUCCESSFUL PERFORMANCE

1. Demonstrate Project Need and Feasibility

· A document confirming that there is a need for the project deliverables and describing, in broad terms: the deliverables; the means of creating the deliverables; the costs of creating and implementing the deliverables; and the benefits to be obtained by implementing the deliverables.

2. Obtain Project Authorization

· A “go/no go” decision is made by the sponsor

· A project manager is assigned

· A “project charter” is created that:

· formally recognizes the project

· is issued by a manager external to the project and at a high enough organizational level to meet project needs

· authorizes the project manager to apply resources to project activities

2. Obtain Authorization for the Phase

· A “go/no go” decision is made by the sponsor that authorizes the project manager to apply organizational resources to the activities of a particular phase

· Written approval of the phase is obtained that:

· formally recognizes the existence of the phase

· is issued by a manager external to the project and at a high enough organizational level to meet project needs

3. Describe Project Scope

· Statement of project scope

· Scope management plan

· Work breakdown structure

PLANNING

ACTION

RESULTS OF SUCCESSFUL PERFORMANCE

5. Define and Sequence Project Activities

· An activity list (list of all activities that will be performed on the project)

· Updates to the work breakdown structure (WBS)

· A project network diagram

5. Estimate Duration for Activities and Resources Required

· Estimate of duration (time required) for each activity and assump​tions related to each estimate

· Statement of resource requirements

· Updates to activity list

6. Develop a Project Schedule

· Project schedule in the form of Gantt charts, network diagrams, milestone charts, or text tables

· Supporting details, such as resource usage over time, cash flow projections, order/delivery schedules, etc.

7. Estimate Costs

· Cost estimates for completing each activity

· Supporting details, including assumptions and constraints

· Cost management plan that describes how cost variances will be handled

8. Build a Budget and Spending Plan

· A cost baseline or time-phased budget for measuring/monitoring costs

· A spending plan that tells how much will be spent on what resources, at what time

9. (Optional): Create a

Formal Quality Plan

· Quality management plan, including operational definitions

· Quality verification checklists

11. (Optional): Create a Formal Project Communications Plan

· A communication management plan, including:

· Collection structure

· Distribution structure

· Description of information to be disseminated

· Schedules listing when information will be produced

· A method for updating the communications plan

ACTION

RESULTS OF SUCCESSFUL PERFORMANCE

12. Organize and Acquire Staff

· Role and assignments of responsibility

· Staffing plan

· Organizational chart, with details (as appropriate)

· Project staff

· Project team directory

12. (Optional): Identify Risks and Plan to Respond

· A document describing potential risks, including their sources, symptoms, and ways to address them

14. (Optional): Plan for and Acquire Outside Resources

· Procurement management plan describing how contractors will be obtained

· Statement of work (SOW) or statement of requirements (SOR) describing the item (product or service) to be procured

· Bid documents, such as an RFP (request for proposal), an IFB (invitation for bid), etc.

· Evaluation criteria—means of scoring contractor’s proposals

· Contract with one or more suppliers of goods or services

15. Organize the

Project Plan

· A comprehensive project plan that pulls together all the outputs of the preceding project planning activities

16. Close Out the Project Planning Phase

· A project plan that has been approved, in writing, by the sponsor

· A “green light” or permission to begin work on the project

17. Revisit the Project

Plan and Re-plan, if

Necessary

· Assurance or confirmation that the detailed plans to execute a particular phase are still accurate and will effectively achieve the results as planned

EXECUTING

18. Execute Project Activities

· Work results (deliverables) are created

· Change requests (i.e., based on expanded or contracted project) are identified

· Periodic progress reports are created

· Team performance is assessed, guided, and perhaps improved

· Bids/proposals for deliverables are solicited, contractors (suppliers) are chosen, and contracts are established

· Contracts are administered to achieve desired work results

CONTROLLING

ACTION

RESULTS OF SUCCESSFUL PERFORMANCE

19. Control Project Activities

· Decision to accept inspected deliverables

· Corrective actions such as rework of deliverables, adjustments to work processes, etc.

· Updates to project plan and scope

· List of lessons learned

· Improved quality

· Completed evaluation checklists (if applicable)

CLOSING

20. Close Out Project Activities

· Formal acceptance, documented in writing, that the sponsor has accepted the product of this phase or activity

· Formal acceptance of contractor work products and updates to the contractor’s files

· Updated project records prepared for archiving

· A plan for follow-up and/or hand-off of work products

IF(

You are in this generic project phase

(AND

You want to perform this process

(THEN

Refer to these

Action Tools

Phase I: Determine Need and Feasibility

(Define goals, concept; analyze need, market; define strategy; do benefit/cost analysis)

Initiating Phase I

Planning Phase I

Executing Phase I

Controlling Phase I

Closing Phase I

· Demonstrate Project Need and Feasibility

· Obtain Project Authorization

Phase II: Create Project Plan

(Make a record of all planned deliverables, work processes, resources, scope, etc., and get it approved)

Initiating Phase II

Planning Phase II

Controlling Phase II

Closing Phase

· Obtain Authorization for the Phase

· Describe Project Scope

· Define and Sequence Project Activities

· Estimate Duration for Activities and Resources Required

· Develop a Project Schedule

· Estimate Costs

· Build a Budget and Spending Plan

· (Optional): Create a Formal Quality Plan

· (Optional): Create a Formal Project Communications Plan

· Organize and Acquire Staff

· (Optional): Plan for and Acquire Outside Resources

· Organize the Project Plan

· Close Out the Project Planning Phase

IF(

You are in this generic project phase

(AND

You want to perform this process

(THEN

Refer to these

Action Tools

Phase III: Create Specifications for

Deliverables

(Describe deliverables in detail; get description approved)

Initiating Phase III

Planning Phase III

Executing Phase III

Controlling Phase III

Closing Phase III

· Obtain Authorization for the Phase

· Revisit the Project Plan and Re-plan, if Necessary

· Execute Project Activities

· Control Project Activities

· Close Out Project Activities

Phase IV: Create Deliverables

(Create prototype pieces; create full-blown, fully integrated deliverables; get them approved)

Initiating Phase IV

Planning Phase IV

Executing Phase IV

Controlling Phase IV

Closing Phase IV

· Obtain Authorization for the Phase

· Revisit the Project Plan and Re-plan, if Necessary

· Execute Project Activities

· Control Project Activities

· Close Out Project Activities

Phase V: Test and Implement Deliverables

(Test, refine, produce, and install deliverables)

Initiating Phase V

Planning Phase V

Executing Phase V

Controlling Phase V

Closing Phase V

· Obtain Authorization for Phase

· Revisit the Project Plan and Re-plan, if Necessary

· Execute Project Activities

· Control Project Activities

· Close Out the Project Activities

Worksheet: Demonstrating Project

Need and Feasibility

Instructions: This worksheet is designed to help you decide whether you’ve “done your homework” and obtained enough information to prove to your sponsor* that the project you propose is needed and is feasible.

Evaluate your project documentation to date by asking yourself each of these questions. (Alternately, you might have a colleague or project supporter review the document with the sponsor’s point of view in mind.) Check Yes for those questions that you have answered adequately. If you check No, review the follow-up suggestion and figure out what to do next.

YES

NO

QUESTIONS

(

(

Have I defined the project goal clearly, in terms that the sponsor* can understand? If not, redefine the goal statement and have it checked by someone who “thinks like the sponsor.”

(

(

Is the sponsor financially and organiza​tionally able to provide all needed support? If not, who is the real sponsor and how can we get the real sponsor involved?

(

(

Have I expressed the core project concept clearly and succinctly? If not, redefine the core project description and have it checked by someone who thinks like the sponsor.

(

(

Does a market analysis or needs analysis show a bona fide need for the product (deliverables) of the project? If not, consider abandoning the project or conducting an appropriate analysis that proves project need.

(

(

Have we clearly expressed the costs and benefits of the project? If not, restate the description of costs and benefits and have it checked by someone who thinks like the sponsor.

(

(

Have I consulted all project stakeholders to obtain their opinions about the need and feasibility? If not, identify missing stakeholders and review the need/feasibility with them, asking for feedback.

(

(

Have we defined a project strategy in enough detail to enable the sponsors to really understand what they’re getting into? If not, restate the project strategy and have it checked by someone who thinks like the sponsor.

(

(

Have I assembled the results of my research into a well-written document and/or presentation? If not, create your document or presentation and have it checked by someone who thinks like the sponsor.

YES

NO

QUESTIONS

(

(

Have I identified an appropriate audience and scheduled a time, place, and date for presenting my project proposal? If not, discuss these items with your supervisor (or a more experienced project manager) and figure out what to do next.

(

(

Have I rehearsed the presentation, including my answers to potentially controversial questions? If not, plan and conduct such a rehearsal.

*Sponsor is the customer, client, final owner, or entity providing funding. The sponsor has the power to provide funds, approve the use of resources, and/or stop the project.

Worksheet: Is This Project Authorized?

Instructions: This worksheet will help you figure out whether you have been fully authorized to continue with the project you proposed. Assuming that you have been given some form of approval to begin the project, evaluate that approval to determine if it provides you with the authority you need in order to do the job. (If you are working with a formal or informal advisory group, you might ask its members to complete this worksheet for you.)

YES

NO

QUESTIONS

(

(

Has the project been formally recognized as a project by one or more sponsors? If not, find out why and discuss what to do next with your supervisor or the potential sponsor.

(

(

Has news of the project been widely circulated in written form? If not, find out why and figure out what to do next.

(

(

Has project authorization been issued by a manager external to the project and at a high enough organizational level to help meet project needs? If not, identify an appropriate sponsoring manager and figure out how you can get his or her authorization.

(

(

Has the project manager been identified? If not, find out who should appoint the project manager and what steps are needed to get the project manager officially on board.

(

(

Is the project manager authorized to apply organizational resources (people, equipment, materials) to project activities? If the project manager has not been formally authorized, then ask the sponsor by whose authority project resources will be applied.

(

(

Has the project manager been given the green light to move on to the next project phase? If not, decide what conditions need to be met to get authorization, and begin to meet them.

(

(

Has a project charter been created and approved by appropriate decision-makers? If not, create one and get it approved. (See Worksheet: The Project Charter)

Remember: If the project isn’t authorized, you probably should not be expending resources (including your own time) working on it.

Worksheet: The Project Charter

Project Name:

Project Manager:

Project Tracking Number: Date:

Project Justification (Problem or Opportunity Addressed):

Overview of Deliverables (high-level, broad-brush only—provide any details in appendices):

Specific Project Objectives and Success Criteria (schedule, cost, quality):

Primary Stakeholders and Roles (including a broad statement of the roles and responsibili​ties of all customers, sponsors, contributors, reviewers, managers, sign-off authorities, project managers, etc.):

Key Assumptions:

Signatures—The following people agree that the above information is accurate:

· Project team members:

· Project sponsor and/or authorizing manager(s):

Worksheet: Is This Phase Really Authorized?

Instructions: This worksheet will help you figure out whether you have been fully authorized to begin a project phase. Assuming that you have been given some form of approval to begin the phase, evaluate that approval to determine if it provides you with the authority you need to do the job. (If you are working with a formal or informal advisory group, you might ask its members to complete this worksheet with you.)

YES

NO

QUESTIONS

(

(

Is the phase we are about to begin part of a project that has been formally recognized as a project? If not, return to Action Item: Obtain Project Authorization.

(

(

Have all appropriate stakeholders approved the results of the preceding phase? If not, consider how and why the results of the preceding phase were not approved. Ask yourself: “Should we really continue to the next phase without reworking the deliverables, changing the formal project specifications, or otherwise changing our project plans?”

(

(

Has the authorization for this phase been issued by a manager external to the project and at a high enough organizational level to help meet project needs? If not, identify an appropriate sponsoring manager and figure out how you can get his or her authorization.

(

(

Is it clear who the project manager is for this phase? If not, find out who should identify the project manager and what steps are needed to get the manager officially identified.

(

(

Is the project manager authorized to apply organizational resources (people, equipment, materials) to the phase? If the project manager has not been formally authorized, then ask the sponsor by whose authority project resources will be applied.

(

(

Has the project manager been given the green light to continue with this project phase? If not, decide what conditions need to be met to get authorization and begin to meet them.

Remember: If the phase isn’t authorized, you probably should not be expending resources (including your own time) working on it!

Worksheet: Project Scope Statement

Project Name:

Project Manager:

Project Tracking Number: Date:

Project Justification (Problem or Opportunity Addressed):

Overview of Deliverables (broad brush only—place detailed work breakdown structure in appendices):

Specific Project Objectives and Success Criteria (schedule, cost, quality):

Scope Management Issues (including ways that scope changes will be handled, contract change orders will be processed, etc.):

Primary Stakeholders and Roles (including a broad statement of the roles and responsibili​ties of all customers, sponsors, contributors, reviewers, managers, sign-off authorities, project managers, etc.):

Key Assumptions:

Signatures—The following people agree that the above information is accurate:

· Project team members:

· Project sponsor and/or authorizing manager(s):

_______________

*Appendices (Needs Analysis/Feasibility Study Notes, Detailed Work Breakdown Structure, Preliminary Schedule, Preliminary Cost Estimate, Sample Deliverables, Background Memos/Reports, Organization Chart of Project Team, others as needed).

Worksheet: Estimating Duration of

Required Activities and Resources

Instructions: In the Activity column, list the phases and activities that must be completed. In the Duration column, list the amount of time required to complete each activity. In the Resources column, enter the names of all resources that are required to complete each activity. Resources should include all people (including contractors), equipment, facilities, and materials. In addition, your assumptions about experience level, brand names of equipment, facility or equipment specifications, number of resources, and so on should be clearly spelled out, since failure to procure resources with the assumed characteristics will likely impact the time required to complete the activity.

Phase and

Activity

Duration

(hours or

days)

Resources Required

with Assumptions

Total Time Required:

Worksheet: Project Communications Planner

Instructions: Look at the chart on the following page. In the Who column, list all the different project stakeholders who will be needing information as the project unfolds. (You may want to list some stakeholders as a group, such as “Engineering” or “Marketing.” However, be careful that you have a clear idea about the specific people within the group to whom communications should be going.)

In the What Information column, list the type of information this person or group will need.

In the When column, list how often or at what points in the project this person or group will need the information. (For example, you might say “weekly” or “monthly” here, or “at sign-off of Phase II.”)

In the How (Form/Medium) column, list the appropriate medium of communication. (For example, you might say “e-mail status report,” “team meeting,” “broadcast voice mail,” or “update to project web page.”)

Who?

What

Information?

When?

How?

(Form/Medium)

Worksheet: Project Responsibility/Accountability Matrix

Instructions: Using the matrix on the next two pages, list the project phases, activities, or deliverables in the first column. Label each of the remaining columns with the name of a project team member. Fill in the blanks underneath each team member’s name with the appropriate initial to indicate his or her role related to this phase, activity, or deliverable. (Example: “I” for input, “S” for sign-off, etc.) Try to avoid using more than one initial per cell on the grid. Note: For best results, consider making this a team effort and complete the worksheet early in the project.

PROJECT RESPONSIBILITY/ACCOUNTABILITY MATRIX

Phase*

Person

P=Participate A=Accountable R=Review I=Input Required S=Sign-off Required

*This column might also be labeled “activities” or “deliverables.”

Worksheet: Risk Assessment

and Response Analyzer

Instructions: Make a list of risks to your project. Using the grid on the following page, examine each risk separately and try to place it in the appropriate grid cell. Using the hints provided in each cell, determine an appropriate response to the risk.

For example, let’s say that we are managing a technical project that faces the risk of losing the only scientist who understands the science behind the project. This would be enormously damaging to the project. At the same time, we know that she is being aggressively pursued by other companies and is unhappy with her current salary. This means it is highly likely that she will leave before the project is completed. Given these circumstances, this risk fits into the upper right grid square (high potential damage, high likelihood). So our overall approach should be to avoid this risk—eliminate its cause. We can do this by obtaining a higher salary for her, by hiring someone else with equivalent expertise as a back-up, or by insisting that she thoroughly train others so they develop her level of expertise.

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KEEPING THINGS MOVING:

A “To Do” List and Tools to Help You

Executive, Control, and Close Out

Your Project

Instructions: After your project plan is approved and you are up and running, you can use the checklist below and the attached tools to help you keep things moving according to your plan.

Go through this list at least weekly for each project you are managing.

· Check your project’s scope.

Refresh your memory about your project’s goals and boundaries. In particular, make sure you have a clear picture of what the desired results should be at this point relative to deliverables, schedule costs, quality, and so on. (See Worksheet: Project Scope Statement under Action Tool: Describe Project Scope if you don’t already have a formal scope statement.)

· Check your deliverables.

Analyze the status of each project deliverable. Are they evolving as planned? If appropriate:

1. Locate lists of quality criteria that may be applied to inspect the quality and completeness of the deliverables at this stage of the project.

2. Check contractors’ proposals or contracts to make sure you know what they should be supplying at this point.

3. Inspect all project deliverables.

4. Decide whether to accept inspected deliverables or to require rework.

(See Worksheet: Project Deliverables Status Analyzer.)

· Check your schedule.

Examine your milestones, key dates, and critical path. Are you where you need to be?

· Analyze variances (deviations from plan) by comparing “estimated” to “actual.”

1. Are activities taking longer than planned? (Are you exceeding estimates of duration?)

2. Are you using more resource hours than you planned?

3. Are your actual costs exceeding your estimated costs?

4. If minor variances are discovered (variances that can be resolved easily without changing the plan or scope), then resolve them.

5. If major variances are discovered (variances that change the scope or constitute significant project issues), then handle them as described in the steps below.

(See Worksheet: Variance Analyzer.)

· Address scope changes.

1. Identify changes in scope (changes in deliverables, schedule, costs, etc.).

2. Handle scope changes, if necessary.

(See Guidelines: Handling Scope Change and Worksheet: Project Scope Change Order.)

· List, track, and try to resolve open issues.

1. Make a list of all the unresolved issues, or

2. Revisit the list of open issues from the last inspection period and try to resolve them.

(See Worksheet: Project Issue Tracker.)

· Revisit potential project risks.

1. Locate the Risk Management Plan, if one has been created.

2. Note particularly whether any of the ongoing events or upcoming events are identified in the risk management plan as particularly vulnerable to risk.

· Report project status.

1. After completing the checks above, if you haven’t already done so, talk to your team members and determine their perspective on project status.

2. Create and circulate a project status report.

(See Worksheet: The Project Status Report.)

· Drive for close-out of activities and sign-off of deliverables as appropriate.

3. Ask yourself, “What activities can I close out? Which deliverables can I get formally approved and signed-off?”

4. Prepare and get signatures on sign-off forms as appropriate.

(See Worksheet: Sample Project Sign-off Form under Action Tool: Close Out Project Activities.)

· Create a list of lessons learned.

Create a list of lessons learned that describes the ways subsequent project activities must be modified in order to prevent the difficulties encountered up to this point.

· Complete appropriate evaluation checklists.

Complete evaluation checklists, if applicable, and file them as part of the official project records.

Worksheet: Project Deliverables Status Analyzer

Deliverable:

As of:

Work Product (Deliverable) Status

ADVANCE \d005 Quality

Level

ADVANCE \d005 Schedule Status

ADVANCE \d005 Team

Status

ADVANCE \d005 Cost

Status

Ideal State:

Current State:

Issues/Obstacles/

Risks:

Ways to Remove

Issues/Obstacles

Risks

To Do:

What:

Who:

Deadline:

To Do:

What:

Who:

Deadline:

WORKSHEET: VARIANCE ANALYZER

Instructions: This worksheet will help you analyze variances (deviations from plan) by comparing “estimated” to “actual.” Enter the name of a project phase (“Phase:”) and then list all related project activities. Next , examine your project plan. Then , for each activity, list the estimated duration, total labor hours, and costs (Est. Dur., Est. Hrs. and Est. $$) allocated for completing that activity. Next , enter the actual time elapsed (Act. Dur.), actual labor hours consumed (Act. Hrs.), and actual costs (Act. $$) related to completing each activity. Finally , compare all actuals (Act. . .) with estimates (Est . . .) to determine all the variances from plan (Var. . .)

For example, if you estimated an activity to be 10 days and it only required 8 days, then you have a positive variance of 2 days for the duration of the activity. Alternately, if you estimated that an activity might consume 80 labor hours and it actually required 100 labor hours, then you have a negative variance of 20 hours for the activity’s labor hours. As these examples illustrate, you should subtract Actual from Estimated to determine Variance. To complete the analysis, note any explanations for the cause of the variance.

Phase:

Est.

Act.

Var.

Est.

Act.

Var.

Est.

Act.

Var.

Activities:

Dur.

Dur.

Dur.

Hrs.

Hrs.

Hrs.

$$

$$

$$

Explanation

Phase:

Est.

Act.

Var.

Est.

Act.

Var.

Est.

Act.

Var.

Activities:

Dur.

Dur.

Dur.

Hrs.

Hrs.

Hrs.

$$

$$

$$

Explanation

Worksheet: Project Scope Change Order

Project Name:

Project Manager:

Project Tracking Number: Date:

Summary of Change:

Rationale for Change:

Brief overview of the impact of this change on . . .

· Project schedule:

· Quality of deliverables:

· Costs:

· Stakeholders and/or core team members:

· Other deliverables, including amount and quality:

Change approved by (signatures):

Sponsor: Date:

Project Manager: Date :

Other: Date :

Worksheet: Project Issue Tracker

Project:

As of:

Description of Issue or

Required Action

Date Named

ADVANCE \d005 Status (open or closed)

ADVANCE \d005 Deadline to Resolve

Date

Closed

Internal Team Member Resp.

External Team Member Resp.

Immediate

To-Do Items,

Comments, or

How Resolved

Worksheet: The Project Status Report

Title: Project XXX Status Report

Date:

Author:

Accomplishments Since Last Report:

(Deliverables completed, milestones attained, decisions made, issues resolved, etc.)

·

·

·

·

·

·

·

Upcoming Activities:

(What the team must focus on accomplishing throughout the next reporting period.)

·

·

·

·

·

·

·

Summary of Issues, Concerns, and Recommended Actions:

(What issues or concerns are unresolved? Include recommended actions for each.)

·

·

·

·

·

·

·

Comments:

(Miscellaneous comments, public praise for extra effort, announcements, etc.)

·

·

·

·

·

·

·

Worksheet: Sample Project

Sign-Off Form

Project Name: XYZ System Upgrade

I have reviewed the following deliverables as of the date identified below:

·

·

·

·

·

I have found these deliverables to meet with my approval, with the following exceptions:

·

·

·

I hereby give my approval to proceed with the evolution of these deliverables to the next stage of development in order to meet the project objectives in a timely fashion.

I understand that any changes (additions, deletions, or modifications) to the fundamental structure, underlying design, or specific features of these deliverables might result in:

· Slippage of the completion date for these deliverables

· Additional resource requirements

· Additional costs

____________________________ [Signature]

J. Edgar Sponsor, V.P.

Systems Fluctuations

Date: ______________________