Abbott Project Management Playbook

• Relevance: Statement on global positioning to serve expanding markets. • Leading: Identify business leadership in the scientific and commercial arenas in multiple geographies. • Consistent and Reliable Performance: Identify consistent and reliable performance in innovation, productivity, and growth with consistency and reliability.

1.3 P ROJECT B USINESS O BJECTIVES •

Identify specific quantifiable deliverables, directly linked to the business case which must be achieved to consider the project complete and successful. • Focus on gaining a clear understanding of the business objective before creating a solution • Tips for developing clear objectives: o Identify what ‘good’ looks like o Be concise o Be conscious of technical jargon & acronyms o Specific Measurable Attainable Relevant Time Bound (SMART goals) • The following should be included in the Projects Business Objectives (PBO): o Statement: A brief narrative description of what you want to achieve o Measures: Indicators you’ll use to assess your achievement o Performance specifications: The value(s) of each measure that define success Define what success looks like for your project or you won’t know if you have achieved it. o M easure what’s im portant to your stakeholders. o Document success criteria and get everyone to agree to them. o Use continuous measurements where possible. o B aseline today’s performance so you know where you are starting from . o Track as appropriate and report on your progress. Note: Definition of success criteria is not a one-time exercise, it is important to re-confirm the business objectives and success criteria periodically throughout project execution (e.g. Stakeholders, business environment, marketing (quicker to market), changes (additions, modifications), external factors, and changes in assumptions. Typically, this can be done as part of the stakeholder and sponsor periodic meetings. 1.4 S UCCESS C RITERIA o

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