Exposed: 5 Reasons for Initiating Projects

Exposed: 5 Reasons for Initiating Projects

Introduction

In my previous articles, I have talked about some of the things that you need to know about the uniqueness of projects.

I told you even though the deliverables might look the same, they are still unique because they have different budgets and stakeholders among others. In this article, I want to look at five major reasons for initiating projects. Follow me as we look at this together in this article.

 

#1 Legal and social requirements as part of the reasons for initiating projects

Firstly, Projects are initiated to satisfy social and legal requirements. The law might require the organisation to put some infrastructure or components in place before they can commence operation. It might also be initiated in order to satisfy some social requirements as well.

Exposed: 5 Reasons for Initiating Projects

#2 Satisfying stakeholder requirements as part of the reasons for initiating projects

A Project might also be initiated in order to satisfy stakeholders requirements for the project. As the Project manager managing a project, you are expected to use your group creativity techniques in order to gather the requirements of the various project stakeholders. This will help you to know what is and what is not part of the project. 

 

#3 Changing business strategies

Furthermore, You can initiate projects to change business or technological strategies been adopted in an organisation. If for example, your organisation want to introduce a new method of production or introduce a new business model which was different from what existed before. It may warrant a new project.

 

YOU CAN ALSO READ  5 Unknown Financial Measures For Project Success

 

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