In this video, learn about project goals and the different types of project objectives.
- [Voiceover] With the problem defined, you need to describe what the project is supposed to achieve. That is, the project goal. A project goal is the high level target that states the end result that the project will achieve. The goal should be a simple statement, and easy for everyone to understand. That way, you can use it get buy-in and guide the team to a successful conclusion. Objectives further define the goal by fleshing out details.
Identifying objectives is important, because they help define the scope, your approach, and the success criteria you have to meet. Business objectives are often strategies or tactics that support your organization's goals. For example, achieve 85% room occupancy rate, or increase brand recognition. Financial objectives are all about money, such as increasing revenue by 15%, or cutting costs by 5%.
Your organization might require that projects deliver a 15% return on the money invested in the project. Quality objectives specify how good results must be. For example, if your project is supposed to increase customer satisfaction, a quality objective would be to increase customer satisfaction ratings to 80%. Projects can have technical objectives. For example, you might want to use tough machines that can withstand harsh environments.
The conference center project has a technical objective to use start-of-the-art computing and audiovisual equipment. Another category of objectives is a catch-all called performance. For example, your project might need to finish by a specific date, such as before the start of prime conference season. Now that we've discussed several categories of objectives, let's talk about how to document objectives well. One way to define clear objectives is to use SMRT criteria.
Specific objectives are clear, so there's no misunderstanding about what you're supposed to achieve. For example, increase customer approval ratings to 80%. Vague objectives are bad, because you probably won't get what you want. Be specific when you write your objectives. Measurable objectives eliminate any question as to whether or not they have been achieved. For instance, you can use ratings from online travel sites or travel guides to measure customer satisfaction.
Realistic objectives spell out what you can do with the resources available. Challenging objectives can motivate people, but your team might give up if they think the objectives are impossible. Time related objectives identify when they need to be achieved. For time-related objectives, set a clear target date. For example, the conference center project needs to be complete in March, before the spring and summer conference season.
Now that the project goals and objectives are identified, you work with the appropriate stakeholders to perform a benefit analysis. That way, you can validate that the project aligns with the organization's mission and strategy, and delivers the expected value to the business. Project goals and objectives provide direction for your project. Using the problem statement you wrote earlier, write the project goal that states the end result that your project will achieve.
Keep it short, simple, and easy for everyone to understand. Then write your objectives, keeping them specific, measurable, realistic, and time-related.
Bonnie Biafore has always been fascinated by how things work and how to make things work better. In this course, she explains the fundamentals of project management, from defining the problem, establishing project goals and objectives, and building a project plan to managing team resources, meeting deadlines, and closing the project. Along the way, she provides tips for reporting on project performance, keeping a project on track, and gaining customer acceptance.
- Defining the components of a project
- What it takes to be a project manager
- Using project management software like Microsoft Project
- Managing project scope, budget, and schedule
- Managing project resources, including people
- Managing project risk
- Initiating a project
- Identifying and managing stakeholders
- Identifying requirements and deliverables
- Developing a project plan
- Building a project schedule
- Assigning resources to tasks
- Understanding the critical path
- Running the project
- Managing teams
- Monitoring performance
- Closing a project
Skill Level Beginner
Project Management Foundations: Communicationwith Doug Rose1h 47m Appropriate for all
Project Management Foundations: Budgetswith Bob McGannon1h 11m Appropriate for all
1. Getting to Know Project Management
2. Exploring Project Management Knowledge Areas
3. First Things First
How to develop requirements4m 19s
4. Developing a Project Plan
5. Building a Project Schedule
6. While You Run the Project
7. Working with Teams
8. Monitoring and Controlling Progress and Performance
9. Closing a Project
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