CROESUS MANAGEMENT GROUP - PROJECT MANAGEMENT

Project management is still in the early days of becoming an independent field of study in its own right. Just what is project management?

There is no centrally agreed single definition of the term. Project management is a complex set of commercial and financial relationships that developed as a system for managing the multitude of functions involved in successfully pursuing large, multi-faceted commercial outcomes, such as large building and construction projects and major natural resource developments and mining operations.

One of the significant reasons why there is no singular definition of project management is that the process itself is affected by both the type of industry to which it is applied and the nature of the desired outcomes.

Whichever industry our clients are in, Croesus assists them by structuring their projects into the follow ten steps and then ensures maximum attention is paid to maintaining the project's critical path so developed:

Step 1: GET ORGANISED
A. Create a project planning system.
B. Create a project plan.

Step 2: DEFINE THE PROJECT
A. Meet with client to clarify the client's goals and objectives.
B. Understanding the project's goals from the lawyer's perspective

Step 3: IDENTIFY ALL CONSIDERATIONS RELEVANT TO THE PROJECT
A. Tapping existing expertise.
B. Brainstorming.

Step 4: ORGANISE THE RESULTS OF STEP 3
A. Settle into one organisational structure.
B. Put similar elements together.

Step 5: CREATE THE PROJECT PLAN
    A. Describe the project's purposes and objectives.
    B. Describe the desired results.
    C. Assess the feasibility of producing the desired results.
    D. List all the work to be performed.
    E. Describe the human resources and skills needed.
    F. Prepare the project schedule.
    G. Estimate the project's costs.
    H. Assess the risks and how to manage them.
    I. Describe how the project will be monitored.
    J. State the procedure for modifying the project plan.

Step 6: LAUNCH THE PROJECT
    A. Choose the team members.
    B. Meet with each team member individually.
    C. Hold the kick-off team meeting.
    D. Announce the project to the firm.

Step 7: MONITOR THE PROGRESS OF THE PROJECT
    A. Keeping up-to-date on the status of work by team members.
    B. Keeping up-to-date on the status of billables and expenses.
    C. Progress reports.
    D. Keeping your client informed.

Step 8: END-OF-PROJECT EVALUATION WITH CLIENT

Step 9: END-OF-PROJECT EVALUATION WITHIN FIRM.
A. Lessons learned evaluation on your own.
B. Lessons learned evaluation with project team.

Step 10: CLOSE OUT THE PROJECT
    A. Finalise all planning documents connected with current project.
    B. Create generic versions of documents, forms, and checklists.
    C. Refine your project management systems and procedures.

While it may seem that following all of these steps would make a project more complex, in fact the complexity is inherent in the project, itself; using a project management approach merely displays that complexity in an obvious and organised fashion, with maximised profits and minimised completion pathways.