Project Management Plan

A project management plan has many parts but just one goal, to bring in a success conclusion to a project. The main component of this is the documentation of the scope, schedules, financial plan, quality plan, resources, communication plan, change process, risk management and procurement plan.

Those different components, when assembled make up a project management plan. Each one has a specific purpose and reason for being part of this documented report.

The project manager is the creator of the project management plan and it is their responsibility for its completeness and accuracy.

Inside a project management plan is what can be considered the blueprints for every part of a project. Its proper planning is essential for it to win an approval statue from upper management and the shareholders.

One of the first components of the project management plan should be the feasibility study. This is since even if the product or deliverable is made of high quality, on time and under budget, if it is not capable of producing a revenue stream for the business that sponsors the project, it is economically worthless.

Another portion of the project management plan that needs to have a great deal of scrutiny is the risk assessment of the project. There are some projects that are by their nature high in risk. A good example is a nuclear facility.  These generate vast amounts of low cost energy that is not reliant on foreign sources. They also last for decades and are very profitable. The risk that is involved with this is its location. No one is willing to have on in their back yard. Because of this none have been built in over 20 years in America.

The resources that will be used in the deliverable also have to be considered before proceeding to far with a project management plan. If the expenses for the allocation of the resources to make the deliverable are more than it can be sold for, again it does not make economical sense to produce the product.

These are some of the factors that are part of a project management plan. This process needs to be thourghly thought out for it to have any chance of approval.