A Project Overview Statement (POS) is described by Wysocki (2012) as a short document, written for senior management approval and resources needed for the project plan, concisely stating the following for the project: 1. What needs to be done 2. Why it is done
3. What value will the enterprise achieve Due to its conciseness and need for specifics without jargon, as this is required for easy management review or for anyone who is interested in the project, either stakeholders or interested parties in questioning the project, the following should only be covered in the POS as per Wysocki (2012): · Problem or opportunity · Project goals
· Project objectives · Success Criteria
· Assumptions, risks and obstacles. In fact the POS is similar to a mission statement for an organization, in which a mission statement helps focus the organization on what really matters to itself and the stakeholders (Ireland & Hitt, 1992). A powerful missions statement includes directions of what needs to be done, why it has to be done and the value it will bring about to the organization but not in specific terms similar to a POS. Mission statement is also similar in which its importance indicates the purpose, what it intends to achieve, identification of the market and guiding actions to overcome current risks or obstacles for the organization (Ireland & Hitt 1992). This is similar to the components covered in the POS as stated above and importance of a POS is more or less similar to what a mission statement provides for an organization. Wysocki (2012) also states that a POS can become an important document to be used in project briefing so as to get common understanding of the project for the project team. A briefing as described by Tang & Shen(2012) is stage where key stakeholders meet each other to clear up the requirements for...
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