Project Closure and Oversight Essay

881 Words Jun 18th, 2013 4 Pages
Topic: | Project Closure and Oversight | Topic Objectives: | By the end of this tutorial you should be able: * To appreciate the importance of engaging in project reviews * To identify the major elements of a project review * To understand key issues surrounding project closure * To provide useful advice for conducting performance reviews of project members. * To develop an appreciation for the value of lessons learned * To provide a primer of retrospective methodology * To encourage students to pursue a career in project management * To understand the operational environment in which you execute your project * To identify and discuss major challenges confronting …show more content…
Assigning an owner who has knowledge and an interest in the retrospective, provides a resource for other project managers who wish to acquire more firsthand information. * Develops a repository that is easy to use. Such a repository is a basic requirement of retrospective methodology. Typically, this repository is an electronic search engine that allows the client to selectively search by project characteristics. * Mandates a discipline that ensures retrospective are used. Managers of a future project are required to review retrospectives of similar projects. Failure to avoid a problem or use a success noted in a past retrospective has dire consequences. 5. What are the major economic forces that serve as an impetus for using oversight/governance tools and processes? a. Intense global competitionb. Compression of the product life cyclec. Industry consolidationd. The number of projects has increased many folds. 6. What are the three major advantages to an organization using a maturity model? The major advantage of the balanced scorecard method lies in its long run accountability of project selection (use of organization resources) and management. The score card value drivers are customer service, innovation, operational efficiency, and financial performance, which are converted into defined performance metrics. Maturity models stress benchmarking within your industry, continuous improvement, and senior

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