Valorant helps clients build capabilities with a variety of projects and programs ranging from strategy & operations consulting projects to managed services programs in the areas of IT and business process improvement. We bring a structured process and framework-driven approach along with capable resources to successfully execute projects and programs of varying scales and complexity. Our project planning approach spans seven key process areas:
- Scope Management
- Cost Management
- Time Management
- Risk Management
- Integration Management
- Quality Management
- Communications Management
Project Management Life Cycle
Project management Life Cycle can comprise of several of projects in any one of the following five stages:
1. Project Management
Project Management is an iterative process starting with the Project Initiation stage. Project initiation typically include the following steps:
- Determining business needs and objectives
- Developing project charter
- Developing project scope document
- Determining high-level deliverables and estimates
- Identifying the qualification of the project manager best suited for the job
- Determining high-level resource requirements
- Obtaining project approval based on budgetary needs
2. Project Planning
It is the most important process area within project management. The planning stage comprises of the following steps:
- Identifies specific work to be performed and the goals that define the project
- Provides documented estimates regarding schedule, resources and cost for planning, tracking, and controlling the project
- Obtains organizational commitments that are planned, documented, and agreed upon
- Continues the development and documentation of project alternatives, assumptions, and constraints
- Establishes a baseline of the plan from which the project will be managed
The final output of project planning process area is a Project Management Plan, will be an approved, comprehensive document that allows a Project Team to begin and complete the work necessary to achieve the project goals and objectives (product/process). The Project Management Plan will address how the Project Team will manage the project elements, including the Project Management System (i.e., set of tools, techniques, methodologies used to manage a project). The Plan will provide a high level of confidence in the organization’s ability to meet the scope, timing, cost, and quality requirements by addressing all aspects of the project.
The Planning stage is comprised of a number of constituent project management processes that will estimate the project’s size, technical scope, and the required resources. It will produce a schedule, Work Breakdown Schedule (WBS), WBS Dictionary, identify and assess risks, and negotiate commitments. Completing these processes is necessary to establish the entire, comprehensive Project Management Plan. Typically, several iterations of the planning processes are performed before the plan is completed and approved.
3. Project Execution
The Project Execution stage entails the Project Team and all necessary resources to carry out the project activities. The Project Management Plan is completed and baselined by this time as well. The Project Team’s and specifically the Project Manager’s focus now shifts from planning the project efforts to participating in, observing, and analyzing the work being done. Successful completion This stage brings together all of the project management disciplines, resulting in an IT or business product or service that will meet the project deliverable requirements and the customers’ need. In this stage, elements completed in Project Planning are implemented, time is expended, and money is spent.
This stage requires the project manager and the project team to:
- Conduct, coordinate and manage the ongoing work activities
- Perform quality assurance activities continuously to ensure project objectives are being met or achieved
- Monitor identified risks for triggering events and implement containment or contingency strategies as necessary
- Distribute information to project stakeholders
- Manage change
The Project Execution stage sits at the intersection of the Planning and Controlling process areas.
4. Project monitoring and controlling
The Project Monitoring and Controlling stage involves the regular review of metrics and report status to identify variances from the planned baseline. The variances are determined by comparing the actual performance metrics from the execution phase against the baseline metrics assigned during the planning phase. If significant variances are observed, adjustments to the plan are made by repeating and adjusting the appropriate Project Management Planning processes.
A significant variance from the plan does not explicitly require a change but should be reviewed to determine whether preventive action is warranted. For example, a missed activity finish date may require adjustments to the current staffing plan, reliance on overtime, or trade-off between budget and schedule objectives. Controlling also includes taking preventive action in anticipation of possible problems.
5. Project conclusion
The Project Conclusion stage is the last stage of the project lifecycle. In this stage project closeout is performed after all defined project objectives have been met and the customer has formally accepted the project’s deliverables and end product or, in some instances, when a project has been cancelled or terminated early. Project closeout is fairly routine, but it is an important process. By properly completing the project closeout, organizations can benefit from lessons learned and information compiled at closure.
Our Organizational Resources:
We provide project and program management resources on full-time or fractional basis to help our client manage complex client projects or programs end-to-end. Our program management resources perform several functions, including Organizational, Planning, Execution, Monitoring & Control and Closing.
Case Study
Background
Mid-market CPG contract manufacturer with ever changing demand and completely manual demand planning processes often suffered from RM stockouts and consequently, delayed finished goods production.
Approach
We uncovered the inefficiencies in demand planning and implemented a “lock-in” period of four weeks of unchanged demand. We also implemented ETL for accepting incoming demand. The lock-in period ensured timely material ordering and streamlined production planning. There was significant improvement in yield and. WMS system was integrated with the planning tool to provide inventory visibility.
Results
Our approach significantly reduced stockouts, increased sales and profits, and improved planning and production processes holistically.