Overview: In this task, a project’s business objectives are clarified for the purpose of better communicating with management and staff.
Considerations: Whereas the vision statement serves as the starting point for communication, the business objective provides the starting point for focusing the activities. A business objective must fit within the organization’s overall vision. Does the business objective apply to the entire organization? Does the objective apply more to one part of the organization than it does other parts? Will everyone recognize the objective as important? Who will be confused by the objective statement? Are there people from outside the core team that can participate in this activity? Should this activity be kept “close-to-the-vest” or should others be actively involved in the task?
- Review the organization’s vision, strategy, and prior business objectives of the business unit, group, or team.
- Identify opportunities for improvement through enhanced processes, functions, technology, or organization changes.
- Identify opportunities for increased revenue through new market penetration or increased “share-of-wallet” of existing customers.
- Identify constraints (or conditions) that exist or are perceived to exist. (For example, funds may be limited or access to key staff members may be difficult).
- Create a short list of the best opportunities then draft objectives.
- Confirm each objective includes a description of what should be achieved; the conditions under which the achievements will be made; and a set of criteria that will be used to judge what’s been done.
- Gain team consensus. Publish. Distribute to business unit stakeholders.