8-1 Evaluating and Terminating the Project

8-2  Evaluating  Project audits  Termination activities  Project final report

Senior management issues 2. Original criteria for selecting and funding project 3. Success to date 4. Business/Direct Success 5. Future Potential 6. Contribution to Organization’s Goals 7. Contribution to Team Member Objectives 8. Risk

8-4  Project audits are a formal means of evaluating a project’s performance  The primary purpose is to give feedback to senior management (and/or the customer) for decision and control purposes  A secondary purpose is to improve the way projects are managed

8-5  An audit early in the project can be helpful to team members, can correct problems early, and can help redirect efforts  An audit late in the project is more for senior management; focus on budget & schedule  A post-project audit can be helpful in improving management of future projects (lessons learned)

8-6 Introduction—project goals/objectives Current Status—budget, schedule, deliverables Future Project Status—recommend any changes to budget/schedule/approach Critical Management Issues—need management’s attention Risk Analysis & Risk Management Final Comments—caveats, assumptions, limitations, info applicable to other projects

8-7 Success Criteria & Questionnaire Development In-Depth Research Report Development

8-8  When the project has met its goals/objectives  As soon as it is clear that technical or commercial failure is imminent (examples ?)  If resources are needed elsewhere  Other reasons?

8-9  Who should make the termination decision?  Who should carry out the termination activities?  What happens to project team members after the termination decision is made?

8-10  Extinction: Stop the project immediately  Integration: Project results are integrated into the existing organizational units  Addition: Project is institutionalized as a new part of the organization (new product line or new division)  Starvation: Gradually reduce resources so that project dies slowly but surely (it fades out of sight)

8-11  Close out any work orders  Ensure that any project follow-up support is provided for (training, maintenance, etc.)  Get delivery acceptance from customer  Release resources to other uses  Reassign project team members  Oversee customer/contractor financial payments  Ensure that documentation is complete  Evaluate project team and project manager

8-12  History of the project  Usually written by PM  It should address: –project performance –administrative performance –organizational structure –project teamwork –project management techniques

8-13 President Program Manager Manager Project A Manager Project B VP Marketing VP Manufacturing VP R&D

8-14 BestTech ComLink case (25 minutes)  Divide into small groups  Read case  Discuss issues and answer 2 questions: –Should the project have been terminated? When? –What should the company do differently so that this situation does not happen again?

8-15 Project managers who are effective can  Improve the likelihood of project success  Save their company money  Complete the project faster  Facilitate a more satisfying experience for the customer  Reduce stress levels within the company  Better contribute to the professional development of team members and to their own professional worth