Business objectives

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Business objectives

  1. 1. Requirement Excellence Framework™ Business Objectives
  2. 2. Business Objectives• Business objectives are specific project success criteria which can be measured.• Business objectives should be SMART. (specific, measurable, attainable, relevant, and time-based)• Well crafted business objectives articulate the bottom-line outcomes the project will deliver for both internal and external stakeholders.• It is important that all stakeholders share a common understanding of the business objectives.• Vague objectives such as “world class” or “killer app” are meaningless unless you can measure whether you have achieved them.• A project that delivers its planned scope and ships on schedule and on budget is good. A project that achieves its intended business objectives is much better. 1
  3. 3. SMART ObjectivesS - SpecificM - MeasurableA – AttainableR – RelevantT – Time basedExamples of Smart Objectives• Reduce overall budget costs by 10% by 2012• Increase market share by 5% by 2012• Increase revenues by 20% by 2013• Increase customer satisfaction by 5 pts by 2012 Confidential - Not for External Distribution 2

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