Abbott Project Management Playbook

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 1.4 S UCCESS C RITERIA o Define what success looks like for your project or you won’t know if you have achieved it. o Measure what’s important to your stakeholders. o Document success criteria and get everyone to agree to them. o Use continuous measurements where possible. o Baseline 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.

Identify Stakeholders

Define Business Goals & Objectives

Periodically Review to ensure Success Criteria Still Valid

Identify Constraints

Derive Project Success Criteria

Deliverables/Output/Next Steps: • Completed Business Case document (possible formats include PowerPoint, Word, PDF) • Communication of Business Case – TBD Useful Links:

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