4 Non-Financial Objectives For Business Objectives
In this article, I want to look at the non-financial objectives of a business case. A Project Business case is a documented economic feasibility study used to establish the validity of the benefit of a selected component lacking sufficient definition.
#1 MOVE TO THE FUTURE
One of the non-financial objectives of a project is the discussion of how the organization will move from its current state to the future state. That means the Sponsor and other stakeholders need to do Gap Analysis in order to discover the stumbling block between where they are now and where they want to be.
#2 CONTRACT TERMS AND CONDITIONS
There is a need for the Project Sponsor and other stakeholders in collaboration with other team members to discover what roles third parties need to play in the project. They need to analyses customer requirements in order to come up with terms and conditions for contractors handling a different aspect of the project.
#3 ACHIEVING STAKEHOLDER SATISFACTION
Another major focus of the business case is that it will assist the Project Manager to understand the needs of project stakeholders for the project. This will assist the organization and the project manager to meet the expectations of stakeholders for the project. It will also ensure that the deliverables of the project are useful to stakeholders at the end of the project.
#4 INTEGRATION OF DELIVERABLES
Another non-financial objectives of a business case are that it will allow the organization to plan to know the deliverables of the project will be handed over to end-users. It will also enable the Project Manager to integrate change management into the project.
#5 INTEGRATION OF DELIVERABLES
Another non-financial objectives of a business case is that it will allow the organization to plan how the deliverable of the project will be handed over to end-users. It will also enable the Project Manager to integrate change management into the project.
#6 ACHIEVE AGREED UPON QUALITY
Other major non-financial objectives of a project are the plan on how to achieve the agreed-upon quality of a project/ quality has to do with expected requirements from stakeholders. The Project Manager needs to understand what the requirements are and plan on how they will achieve project quality objectives.
#7 MEETING GOVERNANCE OBJECTIVES
The Project manager also needs to ensure that he is abiding by projects governance objectives for the project. The governance team will always set up policies and rules in order to achieve project objectives. The Project Manager needs to ensure that he and his team members are abiding by these rules in project execution.
#8 PROJECT SUCCESS CRITERIA
The last part of the non-financial objectives of a business case is that it ensures that the Project meets up with agreed-upon success measure for the project. There are intervals when these measures are used to gauge the deliverables of the project in order to detect whether they meet up with an expected standard for the project. The project manager has to ensure that all required standards are following in order to achieve the deliverables of the project.
The project team need to be able to access the project situation, balance the demands, and maintain proactive communication with stakeholders in order to deliver a successful project.
Also, when the business alignment for a project is constant, the chance the project succeeds greatly increases because the project remains aligned with the strategic direction of the organization.
It is possible for a project to be successful for a scope, schedule, and budget viewpoint. This can occur when there is a change in business needs or the market environment before the project is completed.
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Adeniyi Salau is a Digital Marketer, Project Manager and SEO Expert of repute with about a decade of Blogging and online marketing experience. He is always ready to share his experience with others.