Project milestones-and-budgeting


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Project milestones-and-budgeting

  1. 1. Project Milestones & project budgeting Morning session
  2. 2. What is a milestone? <ul><li>Mark critical points in completion of the contracted work. </li></ul><ul><li>A significant development, event or accomplishment in your plan of attack </li></ul><ul><li>Achievements that help verify that the project is on track and on schedule </li></ul><ul><li>An essential component of good project management </li></ul><ul><li>Note: </li></ul><ul><li>Milestones should be closely related to the anticipated project outcome/s, objectives and project budget </li></ul>
  3. 3. Milestones are used to: <ul><li>Measure progress – management tool </li></ul><ul><li>Provide the basis for review & reporting </li></ul><ul><li>Give SFF confidence that the project is on track & is well managed. </li></ul>
  4. 4. Getting started <ul><li>Define what you hope to achieve from the project. The milestones should always relate back to your objectives. </li></ul><ul><li>Brainstorm ideas – what are the different tasks, steps that you will need to do to get to an end result? </li></ul><ul><li>List all the things you are going to do for each year of your 3 year programme & break these into definable chunks. </li></ul><ul><li>Identify the critical points, the key markers. These are your milestones. </li></ul>
  5. 5. Milestones need to include: <ul><li>What will be achieved </li></ul><ul><li>Specific criteria (If the milestone can be interpreted in more than one way it is not specific) </li></ul><ul><li>Quality measures (These are particularly important if you have contracted someone else to do the work.) </li></ul><ul><li>Target date </li></ul><ul><li>Milestones also need to be realistic – do you have the capacity ($ and people) to achieve them? </li></ul>
  6. 6. Some examples <ul><li>Submitted milestone </li></ul><ul><li>Focus farm network operational. Target date: Nov 2004. </li></ul><ul><li>Revised milestone </li></ul><ul><li>Focus farm network involving 14 properties spread throughout NZ operational. (Farms, community groups & facilitators selected & work programme agreed). Target date Nov 2004. </li></ul>Example 1
  7. 7. Some examples <ul><li>Submitted milestone </li></ul><ul><li>Commence literature search. Target date: Feb 2005. </li></ul><ul><li>Revised milestone </li></ul><ul><li>Literature review of community attitudes to landscape planning completed according to agreed terms of reference. Target date Feb 2005. </li></ul>Example 2
  8. 8. Some examples <ul><li>Submitted milestone </li></ul><ul><li>First workshop undertaken Target date: Feb 2003. </li></ul><ul><li>Revised milestone </li></ul><ul><li>First workshop on organic farming techniques undertaken. (At least 20 participants in attendance) Target date Feb 2003 </li></ul><ul><li>Just because you have held a workshop doesn’t mean that you have made progress. You might have been better to spend the money on something else. e.g. newspaper articles) </li></ul>Example 3
  9. 9. Some examples <ul><li>Submitted milestone </li></ul><ul><li>Nitrogen treatments applied, trial regime and measurement site decided for year 2, soils chosen for characterisation from other growing regions, gold spatial data collected from Zespri and soil data from EBOP, fruit softening data collected from Zespri and corresponding fertiliser data from suppliers, presentation in Zespri Kiwi-tech seminars completed on progress to date. (Target August 2005) </li></ul>Example 4
  10. 10. Check! <ul><li>Ask yourself the question – will your milestones get you to where you want to go? </li></ul><ul><li>Are all the milestones/tasks absolutely necessary? ie. If you leave this step out will it make a difference to the project? </li></ul><ul><li>Are there milestones missing? Are there steps or tasks that you need to include that you haven’t listed? </li></ul><ul><li>Are your milestones specific & measurable? </li></ul>
  11. 11. Milestones & project budget <ul><li>Use the milestones as the basis for preparing your budget. </li></ul><ul><li>Cost out each milestone using the categories in the SFF budget sheet. </li></ul><ul><li>You must be able to justify the figures that you include in your budget. </li></ul><ul><li>Don’t forget to include budget provision for project management. </li></ul><ul><li>Confirm cash contributions (Other than SFF) </li></ul><ul><li>Assess in-kind contributions </li></ul>
  12. 12. In-kind <ul><li>In-kind expenses are those which are incurred during the running of a project and are contributed on a no payment basis. They can include virtually anything which can be deemed a legitimate cost to the project. </li></ul><ul><li>In-kind contributions provide an indication of the level of community/group/industry support for the project and also provide the leverage to access funding. </li></ul><ul><li>You will need a reliable system for recording in-kind contributions. Costs included must be realistic and be able to be verified. </li></ul><ul><li>Recording in-kind contributions is an essential part of project management but how you do it is up to you. </li></ul>
  13. 13. Assessing in-kind <ul><li>Step 1: List all the different parties who potentially are contributors to the project and the contribution they are likely to make. </li></ul><ul><li>Step 2: Assign the contributions to the categories as set out in the SFF claim form and draw up an in-kind budget. This will help you track progress overtime </li></ul><ul><li>Step 3: Devise a system for recording the individual contributions. Develop a system that works for you. </li></ul><ul><li>Step 4: Keep regular checks on how things are going. Ask your contributors to return an update each quarter of their in-kind expenses. </li></ul><ul><li>Remember: Recording in-kind contributions is a matter of horses for courses. It’s a matter of finding an approach that works for you and your group. </li></ul>
  14. 15. Setting up your project for success Afternoon session
  15. 16. The project management process <ul><li>Milestones </li></ul><ul><li>Budget </li></ul><ul><li>Systems </li></ul><ul><li>Contracts </li></ul><ul><li>Mgt team </li></ul><ul><li>Implement plan </li></ul><ul><li>Action </li></ul><ul><li>Coordination </li></ul><ul><li>Communication </li></ul><ul><li>Liaison </li></ul><ul><li>Budget </li></ul><ul><li>Milestones </li></ul><ul><li>Feedback </li></ul><ul><li>Research </li></ul><ul><li>Mgt review </li></ul><ul><li>Evaluate options </li></ul><ul><li>Revise plan is necessary </li></ul>P D M I Plan Do Monitor Improve
  16. 17. Key areas <ul><li>Management setup (i.e Committee, chairperson, project manager, finance manager) </li></ul><ul><li>Contracts with providers </li></ul><ul><li>Communication – within and outside of the project group group </li></ul><ul><li>Monitoring & review (i.e. Having the right systems that enable you to assess how well you are doing) </li></ul><ul><li>Reporting (e.g 1/4 reports) – to SFF & Mgt committee </li></ul><ul><li>Capacity – does your group have the people with the skills and the time to manage the project? </li></ul>
  17. 18. Management Committee role <ul><li>Governance/oversight </li></ul><ul><li>Carry overall responsibility for the project </li></ul><ul><li>Set and approve policies / operating procedures etc </li></ul><ul><li>Approve delegations </li></ul><ul><li>Approve budget/budget variations </li></ul><ul><li>Approve accounts for payment </li></ul><ul><li>Act as link with different stakeholders </li></ul>
  18. 19. Chairperson’s role <ul><li>Uphold the rules/constitution of the group </li></ul><ul><li>Ensure the milestones are being achieved </li></ul><ul><li>Act as chair at meetings </li></ul><ul><li>Ensure that office bearers are for filling their roles </li></ul><ul><li>Represent the organisation to the outside world </li></ul><ul><li>Have co-responsibility for sign-off of financial reports/media releases </li></ul><ul><li>To act on behalf of group in interval between meetings </li></ul>
  19. 20. Project Manager's role <ul><li>Research & development of initial project </li></ul><ul><li>Set milestones & prepare timeline </li></ul><ul><li>Set up project/systems etc </li></ul><ul><li>Source and contract suitable contractors </li></ul><ul><li>Manage contracts </li></ul><ul><li>Organise & oversee works programme </li></ul><ul><li>Monitor progress </li></ul><ul><li>Monitor budget in association with Finance Manager </li></ul><ul><li>Project communication/liaison </li></ul><ul><li>Project reporting </li></ul><ul><li>Authorise all accounts & co sign-off </li></ul><ul><li>Keep management committee informed </li></ul>
  20. 21. Finance Manager’s role <ul><li>Control of bank account </li></ul><ul><li>Budget preparation </li></ul><ul><li>Pay accounts for approved expenditure </li></ul><ul><li>Operate accurate cash book </li></ul><ul><li>To be aware of current financial position </li></ul><ul><li>To keep Project Manager & management team informed on financial matters </li></ul><ul><li>GST returns </li></ul><ul><li>Produce a set of annual accounts </li></ul>
  21. 22. Contracts <ul><li>Why do you need them? </li></ul><ul><li>Gives you control over your project </li></ul><ul><li>They clearly define what you expect of your contractors/consultants </li></ul><ul><li>Give you a mechanism for negotiation on price. </li></ul><ul><li>Basis of dispute resolution </li></ul>
  22. 23. Communications strategy <ul><li>Why do you need one? </li></ul><ul><li>To ensure that the projects key aims and messages are delivered & are consistent & understood by all parties </li></ul><ul><li>To build awareness of the project among a wider audience and user group </li></ul><ul><li>To secure commitment of key stakeholders to the project aims </li></ul><ul><li>To influence specific policies & policy makers </li></ul><ul><li>To encourage participation among researchers and partner bodies </li></ul><ul><li>Communication principles </li></ul><ul><li>To produce honest, succinct, credible & cost effective communications </li></ul><ul><li>To ensure that all communication is planned, timely and consistent with key message </li></ul><ul><li>To ensure all project communication is approved by the appropriate person </li></ul>
  23. 24. Monitoring & review <ul><li>For effective monitoring & review you must have the right systems in place. </li></ul><ul><li>It can take a while to set up right systems up but when you do the advantages will out way the disadvantages. </li></ul><ul><li>Good systems enable you to maintain control of your project & make adjustments where necessary. </li></ul><ul><li>Good systems give your project credibility </li></ul>
  24. 25. Reporting <ul><li>Your management group requires good information to be able to make the right decisions and effectively manage the project. </li></ul><ul><li>SFF need to know that their funds are being used well </li></ul><ul><li>That the work contracted will be delivered within the timeframe, quality & $ promised. </li></ul><ul><li>If work is not on track the right actions are undertaken to rectify the problem. </li></ul><ul><li>If contract variation is required it is not a surprise. </li></ul>
  25. 26. The ¼ Report <ul><li>The ¼ report should include: </li></ul><ul><li>Milestone progress </li></ul><ul><li>Additional results </li></ul><ul><li>Proposed activities next ¼ </li></ul><ul><li>Milestone variations </li></ul><ul><li>Financial update </li></ul><ul><li>Other </li></ul><ul><ul><li>Management group feedback </li></ul></ul><ul><ul><li>Stakeholder liaison </li></ul></ul><ul><ul><li>Linkages with other projects </li></ul></ul><ul><ul><li>Information dissemination </li></ul></ul><ul><ul><li>Upcoming events </li></ul></ul>
  26. 27. Capacity <ul><li>Does your group have the necessary expertise or people with time to manage the project?? </li></ul>