In the line of creating business projects, experts called project managers are skilled individuals who know project management like the back of their hand. Creating a particular project can be a long process, there a lot of things project managers need to do, and on top of it all, they would still need to pitch their project idea to their boss. So, if you belong to the population of project managers and you need help in presenting the process of your project proposal, it’s time for you to learn about the project management executive summary.
A project management executive summary is a brief but informative type of report containing the plans and procedures of a new project. Project managers use this kind of executive summary to present their new project ideas to the executives of the company they work for. It is one of the ways of pitching new ideas because it is concise and easy to understand. A project management executive summary can also be used for educational purposes, such as school projects and research papers. It is a way for students to practice their project management skills in case they would like to enter the field of business. Before a project manager can begin the process of creating a new project, he or she still needs to obtain the approval of the companies high management. A project management executive summary is one of the best ways of showcasing a new project along with its processes.
As you may know, project management is an essential part of creating a project. But only a few people understand the value of project management. An article from Medium revealed that only 58% of establishments acknowledge the significance of project management. It is how a team can achieve the success of a project in a specific amount of time. In your project management executive summary, you must include the phases of project management so that your boss will have an insight as to how you and your team will achieve the goals of your project.
Initiation is the first thing that needs to be done in project management. It is where a project manager measures the value and workability of a project. Project managers also determine whether the project is worth creating through evaluating the costs, requirements, and resources.
If a specific project passes the initiation, the team of the project manager will start the planning process to build a solid ground for the project. The planning stage is where they evaluate and manage the timeframe, finance, and the possible risks of the project.
Execution is where the project team starts to build the structure of the project. The project manager relies upon what is created in the planning stage to deliver a proper execution for the project. The project team needs to focus on their tasks because this is a crucial stage of project management.
Project monitoring is performed during the execution phase. Project managers need to monitor all the tasks of the team members so that errors can be prevented ahead of time. Project managers have to keep track of what is happening during the execution stage so that the process of the project can move smoothly.
Project closure is the final stage of project management. It is when the project has been completed and finished successfully. During this stage, project managers take note of the errors during the management of a particular project and use it to improve their performance for the next project.
There are many sample templates of a project management summary available online, but if you want to create your summary, here are some steps and guidelines that you need to follow:
You must include a title on your project management executive summary. Titles have always been part of any document. It is an element that piques’ the audience’s interest, and it gives an insight as to what the material is about. The same goes for a project management executive summary. It should have a project title so that the higher management will have an insight as to what kind of project you’re trying to develop.
You should include a concise description of your project. Talk about its background, purpose, and the reason why you have decided to create this particular project. The project description is an overview of what your project is about. Remember, you’re creating an executive summary, so be sure the project description is short but informative enough for the reader.
The project processes should also be included in the project management executive summary. You should provide a brief description of each of the methods so that you can show the higher management on what plans you have to achieve project success. You must include the fundamental processes because it acts as proof that the project has feasibility.
You might be creating a summary, but elaboration is essential too. It is how you make sure that the contents of your project management executive summary are understandable and easy to comprehend. When you elaborate, make sure that you never go off-topic, control your word usage, and don’t forget to prove your key points.
Yes, project management is essential in software projects or any project for that matter. It is how project managers can keep track of the project development and execute strategies that will help the development run smoothly.
The project managers’ role is to oversee the project management plan. He or she is responsible for controlling and monitoring the fundamental processes that will lead to the projects’ success. A project manager is also responsible and reliable for tasking each team member a specific task during the project development.
The length of the project management executive summary depends on what type of project or business plan a project manager is creating. But the usual length for this type of executive summary is usually 4 to 5 pages long.
As you can see, a project management executive summary plays a significant role in pitching new project ideas. It is short but informative enough for the reader to understand the contents of the document fully. Executives and managers only need brief information on a new project because the whole scope of the project can be discussed much later. A project management executive summary is what the higher management needs when a new project idea is being presented.