1 Explain how to carry out a cost-benefit analysis for a project

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1 Explain how to carry out a cost-benefit analysis for a project

ML40 Manage a project

Outcome 1 Understand the management of a project

The learner can:

1 explain how to carry out a cost-benefit analysis for a project

2 evaluate the use of risk analysis techniques

3 evaluate project planning and management tools and techniques

4 evaluate the impact of changes to project scope, schedule, finance, risk, quality and

resources

5 analyse the requirements of project governance arrangements

Outcome 2 Be able to plan a project

The learner can:

1 analyse how a project fits with an organisation’s overall vision, objectives, plans and

programmes of work

2 agree the objectives and scope of proposed projects with stakeholders

3 assess the interdependencies and potential risks within a project

4 develop a project plan with specific, measurable, achievable, realistic and time-bound

(SMART) objectives, key performance indicators (KPIs) and evaluations mechanisms

appropriate to the plan

5 develop proportionate and targeted plans to manage identified risks and contingencies

6 apply project lifecycle approaches to the progress of a project

Outcome 3 Be able to manage a project

The learner can:

1 allocate resources in accordance with the project plan

2 brief project team members on their roles and responsibilities

3 implement plans within agreed budgets and timescales

4 communicate the requirements of the plans to those who will be affected

5 revise plans in the light of changing circumstances in accordance with project objectives

and identified risks

6 keep stakeholders up to date with developments and problems

7 complete close-out actions in accordance with project plans

8 adhere to organisational policies and procedures, legal and ethical requirements when

managing a project

Outcome 4 Be able to evaluate the effectiveness of a project

The learner can:

1 conduct periodic reviews of the progress and effectiveness of a project using information

from a range of sources

2 evaluate the effectiveness of capturing and managing project-related knowledge

3 report on the effectiveness of plans