Discovery/Concept Preparation Phase:
The Discovery/Concept Preparation phase is the initial phase in project management, where the project’s objectives and goals are defined, and the project’s feasibility is evaluated. In this blog post, we’ll explore the Discovery/Concept Preparation phase and its key components.
The Project Business Case:
The project business case is a document that outlines the reasons why a project is necessary and the expected benefits and costs associated with it. It serves as the foundation for the project and provides a framework for decision-making throughout the project’s lifecycle. The business case should be supported by data and analysis to ensure that it is viable and can deliver the expected benefits.
Choosing Which Project to Do:
During the Discovery/Concept Preparation phase, organizations evaluate various project options and select the most suitable project. Factors to consider when selecting a project include strategic alignment, resource availability, risk, and feasibility. The selection process should be transparent and involve stakeholders to ensure that the selected project aligns with the organization’s strategic objectives.
Review Procurement Preferences and Artifacts:
During the Discovery/Concept Preparation phase, organizations should review their procurement preferences and artifacts. This involves evaluating procurement policies, procedures, and standards to ensure that they align with the organization’s strategic objectives. Organizations should also evaluate their procurement artifacts, such as contracts, requests for proposals, and statements of work, to ensure that they meet industry standards and best practices.
Vendor Contract Types:
Organizations should also consider the type of contract they will use when working with vendors. There are several contract types to choose from, including fixed-price contracts, time and materials contracts, and cost-reimbursable contracts. The contract type selected should be based on the project’s scope, complexity, and risk.
Other Vendor Documents:
In addition to vendor contracts, organizations should also review other vendor documents during the Discovery/Concept Preparation phase. These documents may include non-disclosure agreements, vendor agreements, and service level agreements. Reviewing these documents ensures that they align with the organization’s procurement policies and provide the necessary protections and assurances.
Conclusion:
The Discovery/Concept Preparation phase is critical to the success of a project. During this phase, organizations evaluate project options, select the most suitable project, and review their procurement preferences and artifacts. Organizations should also consider the type of contract they will use when working with vendors and review other vendor documents to ensure that they align with procurement policies and provide the necessary protections and assurances. By thoroughly evaluating these factors during the Discovery/Concept Preparation phase, organizations can set the stage for a successful project.