Approvals for your projects – Increasing your Chances!

G.Ravi, PMP & Kumar Saurabh, PMP

September 05, 2011

Projects are essential for the existence of any projectised setup. Following stages are involved to initiate a project and for obtaining approval for the project:

Stage 1: Internal Assessment
  • Proper SWOT analysis should be performed.
  • Due diligence must be done.
  • Have faith on the feasibility and workability of the project.
Stage 2: Sponsor / External Stakeholder Analysis
  • Target people / organization who identify with the project.
  • The sponsor must be in line with the organization’s mission.
  • The probability of sponsor acceptance must be high.
  • The sponsor should have a previous association with projects of similar nature.
  • Sponsor should have a strong financial will to sponsor the project in totality.
Stage 3: The Rendezvous
  • Create a cordial atmosphere by exchanging pleasantries and thanking sponsors for their time & effort.
  • Be assertive and specific while explaining the project. Always exude confidence.
  • Be optimistic, yet realistic. Don't exaggerate the benefits but provide the real picture.
  • Explain the project in a presentable graphic format with facts and figures.
  • Ensure that the session is interactive and does not end in a monologue.
  • Assure the sponsor of a successful outcome with a clear timeline.
  • Highlight benefits, of the project, for the sponsor.
  • Be vigilant of positive signals from the sponsor and immediately capitalize on the same.

Happy Project Execution!