GMS 450 Lecture Notes - Lecture 12: Project Charter, Feasibility Study, Financial Audit

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 450
• Professor: Mohammad Nikoofal

Document Summary

Project termination: when to terminate a project, different types of terminating a project. The project evaluation appraises the progress and performance of the project relative to: the projects initial or revised plan, the goals and objectives set for the project during the selection process. The primary purpose of a project evaluation is to give feedback to senior management for decision and control purposes. The control purpose is meant to improve the process of carrying out future projects. The decision purpose is intended to improve the selection process. The use of the post-project evaluation is to help the organization improve its project management skills on future projects. Pmbok guide (cid:396)efe(cid:396)s to this as (cid:862)lesso(cid:374)s lea(cid:396)(cid:374)ed(cid:863) Recall that one of the risk identification techniques is scenario analysis. Risks are identified and evaluated by project stakeholders with previous experience in similar projects. Project evaluating requires documenting the lessons learned, which helps develop risk database.