Opportunity Framing and Project Proposal
When considering a new project in our business, a new venture, or new development, it is good to stand back at the start and reflect on how to get the best value out of the opportunity.
Opportunity Framing, also referred to as road mapping, is a well-recognized and tested best practice for any project or major undertaking, to ensure a high-quality plan right at the kick-off of the opportunity. Additional benefits are stakeholder involvement and alignment, a focused and motivated team, a structured roadmap and action plan, clarity on decisions, and a better ability to deal with changes.
In almost every case, a range of issues will need to be understood, both technical and non-technical. An Opportunity Framing, therefore, needs to be conducted by an integrated, multi-disciplinary group, including the decision-makers. This will result in a better understanding of the full range of aspects impacting project success, and assist in better management of risks and opportunities.
Once the opportunity is adequatedly discussed, and risks identified as well as mitigated, a project proposal will be put together for a joint approval.
Multi-Partners Project Approach & Execution
In many project-based industries, there has recently been an increased tendency for collaboration and co-creation of value with the clients or business owners. Projects delivered through collaborative partnerships have the potential to deliver improved outcomes as opposed to a one-company project approach. Respective companies or partners can also increase project efficiencies by saving time and money. This is made possible because IPDP’s network with many subject matter expert companies, locally and internationally. Successful partnerships increase knowledge sharing and improve working relationships.
Managing a partnership project is not always easy and can pose many challenges. There are inherent challenges and complexities related to multi-partner collaboration. IPDP’s foundation on successful collaboration or partnership is trust and transparency from the outset of any project initiation and the same is required from the other partners.
Execution of the project will be led by the most qualified partner, which depends on the nature and complexity of the project.
Project management is a critical practice that applies knowledge of process, skills, tools, deliverables, and techniques to project activities to ensure a solid path to project success by meeting goals and requirements.
Having worked with the identified partners from the project initiation stage, IPDP will be able to assess and jointly decide with all partners the approach, processes, key activities, and milestones for the joint project.