🚏Project Types
SUMMARY
At Renaissance Innovation Lab, we believe that Learning is simply not enough; one must actively practice what is learned for better application of knowledge and skill. These projects are; Management Project and External Project. This document describes each of these Projects in detail, their project Development stages, and guidelines for every stakeholder involved in each of the above projects and serves as a guide for RIL’s project manager(s) in the execution of any RIL project from the initiation phase to the close of project (closure) phase, describing all that is expected of the Project Manager. The activities listed in this document are coordinated by the office of the Project Manager.
PROJECT TYPES
Management project
Management projects as the name implies are projects proposed by RIL’s Management. These projects are usually experimental and if they do exceptionally well, goes live and becomes a product of its own independent of RIL.
When Management has decided on the next project to take on, they are expected to;
Conduct a feasibility analysis, come up with a BRD (Business requirement Document) and submit the document to the Project Manager for review and further discussion.
Upon Submission, the Project Manager is expected to;
Review the document and determine that RIL has the resources and time to execute the project as at when due.
Establish Project Authorities.
Identify all stakeholders in the projects and their interests/roles.
Identify project objectives and the practical measures to meet them
Establish the mode of communication for all stakeholders.
Create a PRD for the project and distribute to all stakeholders.
Discuss with every stakeholder to identify the resources, tasks and deliverables needed to execute the project.
Determine the methodology for the project’s execution.
Document an activity log/roadmap with tasks/activities and deliverables, owners, dependencies, etc. taking into account the need for stages and checkpoints.
Generate other necessary documents in line with the chosen methodology.
Share the Roadmap with stakeholders to get their views and opinions about deliverables and if need be, make necessary changes.
Determine a start date and an end date.
Execute Project.
External Project
External projects are projects contracted to RIL for execution. External Projects are not the same as Management Projects. While Management Projects are proposed by management, they are experimental whereas External Projects are not.
Before an external Project outsourced to RIL is accepted;
Extensive discussions between RIL’s management and the company outsourcing their project must be had to determine what the Objectives of the project are, the deliverables expected from the project, etc.
It is the duty of the Company outsourcing their project to conduct feasibility studies and produce a BRD (Business Requirement document) that will be reviewed by the Project Manager alongside RIL’s management.
The Project Manager must determine that RIL has the resources to undertake the external project (time, person(s), etc.).
Upon accepting to take on the external project, the Project Manager must;
Establish Project Authorities.
Identify all stakeholders in the projects and their interests/roles.
Identify project objectives and the practical measures to meet them
Establish the mode of communication for all stakeholders.
Create a PRD for the project and distribute to all stakeholders.
Discuss with every stakeholder to identify the resources, tasks and deliverables needed to execute the project.
Determine the methodology for the project’s execution.
Document an activity log/roadmap with tasks/activities and deliverables, owners, dependencies, etc. taking into account the need for stages and checkpoints.
Generate other necessary documents in line with the chosen methodology.
Share the Roadmap with stakeholders to get their views and opinions about deliverables and if need be, make necessary changes.
Determine a start date and an end date.
Execute Project.
OTHERS:
External projects must be in line with RIL’s vision
PROJECT ACCEPTANCE GUIDELINES
A Project Manager knowing when to take on a project is crucial for the success of each project and the efficiency of the management of said projects. In taking on projects in RIL, the following factors should be considered;
Project Hierarchy
When faced with a lot of project proposals on your table, the project Manager must give time and resources to the projects according to this Hierarchical list;
External Projects.
Management Projects.
Opportunity Cost
If a proposed project is lower in the hierarchical table, it is the Project Manager’s duty to analyze the Opportunity cost of the said project and make a decision based on their analysis. Factors to consider when analyzing the opportunity cost are;
Monetary gain
Success rate of the Project
Global recognition of the Lab due to the success of the Project
The social capacity of the Project Owner in the Tech Space
The Project Owner’s value to the Lab.
Available Resources
Before taking on a project, the project Manager must ensure that the Lab is equipped with the necessary resources for the execution of the project. These resources are as follows;
Available People to take on the job: During the project’s analysis, the Project Manager must ensure that the people who’s skills and experiences are needed for the job are not already tasked and overwhelmed with a project. If tasked with other projects, it is the Project Manager’s duty to identify if the Proposed project is higher in the hierarchical list or if the opportunity cost of the proposed project is greater than the project currently being worked on. This way People can be reassigned to more important projects and made to pause the other projects being worked on.
Hardware & Software: Before accepting a project, it is the Project manager’s duty to identify the hardware and software resources needed to execute the project, to know if the Lab has access to the needed resources or if the Lab can afford to acquire these resources in time to execute the project.
Cost & Budget: When analyzing the project and determining the budget, project’s whose budget exceeds the Lab’s financial capabilities are to be held off until such a time when the Lab can fund it or get a sponsor to fund it.
Last updated