Proeject management clas

Question

Can be any business example

• Rate whether or not the business can achieve the objective set on a scale of 1: unachievable to 5: perfectly achievable.

• List the KPI being used to measure the efficiency of the process.

• Rate the measurement capacity of the chosen indicators on a scale of 1: completely inappropriate to 5: absolutely ideal.

• Rate the degree of interest, or relevance, you personally assign to the objective on a scale of 1: irrelevant to 5: highly relevant.

• Rate the timescale set to achieve the objective from 1: completely unrealistic to 5: perfectly realistic

Are your business's objectives SMART?

Specific:

Measurable:

Attainable:

Relevant:

Time based:

Answer 1

Let's consider an example of a project management objective for a software development company:

Objective: Develop and launch a new mobile application within six months to capture a larger market share in the health and fitness industry.

Specific:

- The objective clearly defines what needs to be achieved: developing and launching a new mobile application.

- It answers the questions: What needs to be accomplished? Why is it important? Who is involved? Where will it happen? Which resources or constraints are involved?

- Rating: 5

Measurable:

- Progress toward the objective can be measured by specific criteria such as the number of features developed, app downloads, user engagement metrics, and revenue generated.

- Clear metrics like app downloads, active users, and revenue will be used to track success and evaluate performance.

- Rating: 5

Attainable:

- Given the company's experience in software development, the objective of developing and launching a new mobile application within six months is realistic.

- The resources, including the development team and budget, are available to support the project.

- Rating: 4

Relevant:

- The objective is aligned with the company's goal of expanding its market share in the health and fitness industry through innovative digital solutions.

- It contributes to the company's long-term vision of becoming a leading player in the mobile app market.

- Rating: 5

Time-based:

- A clear timeframe of six months is set for achieving the objective, providing a sense of urgency and focus for the project team.

- The deadline is realistic, allowing sufficient time for development, testing, and launch activities.

- Rating: 4

Overall, this example of a project management objective for developing and launching a new mobile application meets the SMART criteria.