6. Projects

Organisations can consider multiple opportunities that can be realised through one or more projects. From the available opportunities, organisations should formally identify, analyse, evaluate and initiate the most relevant opportunities as project(s). Projects are unique activities that will provide benefits to the organisation when realised. Projects have a defined beginning and end. Their unique character introduces risks into the workplace and to stakeholders. This requires careful planning to ensure risks are controlled and that projects are completed on time, on budget and to the desired quality. Detailed specifications are required to ensure customer requirements are understood and met. Formal accountabilities should be defined for each project. Project plans define the goals, responsibilities, resources and risks throughout the project lifecycle. Effective execution and control ensures changes are managed, work is completed correctly, and stakeholder expectations are met. Project close-out must ensure that systems and documentation are updated to address changes introduced by the project. Post-project review ensures lessons are learned for future projects.

Projects explained by Bushra Ramzan from DNV GL UK