What is a Project Business Plan? A Project Business Plan is the management document for the project. It is owned, maintained and utilised by the Sponsor to ensure the delivery of project outputs and the realisation of project outcomes. The Project Management Fact Sheet: Project Sizing can assist you to determine the size of your project. Why would you develop a Project Business Plan? A Project Business Plan is developed to provide: Comprehensive overview of all the project components, how you intend to produce the outputs and describes the roles and responsibilities of each of the parties in the governance structure of the project. The Project’s Sponsor with a documented framework to ensure the achievement of defined project outcomes and to effectively monitor the project from start to finish. A formalised agreement between the Project Sponsor and the Project Manager of what needs to be done and when. The document expands upon the original Project Proposal or the approved option in the Project Business Case enabling detailed definition of the scope and management of the project. When would you develop a Project Business Plan? Approval to proceed to develop a Project Business Plan is usually obtained from the acceptance or approval of a preceding stage such as a Project Proposal, Project Business Case or Feasibility Study. The Project Business Plan expands the approved proposal developed in these documents in order to: Provide specific details on the scope, governance, budget, resources, work plan and milestones of the project. Define the project and quality management processes to be used throughout the project. Gain authorisation to proceed to the next step of the project. What you need before you start: Agreement to proceed with the development of the Project Business Plan from the Project Sponsor or Proposer. Knowledge and understanding of the development of a Project Business Plan, as outlined in the Guidelines. Any other project approval processes that are required in your organisation. Optional: Endorsed document establishing the scope of the Project Business Plan, which could be a Project Proposal or a Project Business Case, or as simple as an email from your manager. Knowledge and understanding of project planning, scope definition, stakeholder identification, risk identification and the development of work breakdown structures.
The following outcomes have been identified as the Target Outcomes for the <Project Title> Project: Table <n>: Target Outcomes Measurement Target Outcome 1 Measure Completion Date Accountability <The measurable benefits that are sought from undertaking a project> <The actual mechanism for measuring the level of the performance indicator> <The date by when the target levels are to be achieved> <Who is accountable for the achievement of the targeted outcome(s) and reports on the progress towards the target?> Example: More efficient and earlier collection of monetary penalties through changed processes. Example: Reduction in the mean (average) time to pay an infringement notice and a court fine compared with current mean (average) time to pay. Example: 30 June 2004 Example: Manager, Fines Enforcement, Department of Justice and Industrial Relations Output(s) Outputs are the products, services, business or management practices that will be required (produced) to meet the identified outcomes/benefits. Outputs are usually expressed as nouns. They may be new products or services, or 'fixed things'. Outputs link with outcomes, in that the outputs are used by the project's customers to achieve the outcomes. Ask ‘what’ new services, businesses, or management practices will need to be implemented to meet the identified outcomes. Output statements are kept as free as possible from system terms. Some examples: A new financial management policy, procedures and standards manual A new legislation storage and access facility A decentralised enquiry and reporting facility for internal use Outputs must be logical – by providing answers to questions: What, Which, How. Include descriptions where necessary. The Outputs to be delivered by the <Project Title> Project are:
Appendices Additional documents or information may be attached to the Project Business Plan as appendices to enhance or meet specific project requirements. For example: Detailed Project Budget Risk Register (provides ‘snapshot’ details of the current risk assessment and risk management strategies) Project Development Schedule (a ‘snapshot’ Gantt chart, or similar, of major project milestones and processes).