Project Approval

Micro Learning Unit

When the preliminary planning stage is concluded, all accumulated data must be brought to the stakeholders for approval. Part of this approval process includes presenting ’The Project’s Story’. The stakeholders must then decide whether to approve the project fully, approve the project in part, or not approve the project at all.

For this end, a comprehensive presentation based on the Project Compass document should be prepared and presented at a project approval meeting.

The presentation should address these issues:

Project approval is based on how necessary the project is perceived to be, on the project’s profitability relative to alternative projects that could be undertaken using the same resources, and on the risk factors facing the project.