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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
 
 
 
 
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Money Management Action Plan

In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

Money Management Action Plan
 
 
 
Home » Glossary » What is Project Derivation
What is Project Derivation  

What is Project Derivation



 
 

Project Derivation is a general term that refers to the starting point of a new project to symbolize creation and existence of this project. It can be regarded as the very first (pre-project or preliminary) step in the project initiation process to identify the reason(s) for project startup and explain possible sources of project investment.

The derivation step of a project aims to create a general understanding of the project’s concept, rationale and benefits. If both the sponsor and customer share this understand the project can be agreed and verified for initiation. But it does not mean the project is approved and ready for implementation. It just means that the sponsor preliminarily agrees on making necessary investments and the customer confirms the project produces needed benefits.

When the derivation step is completed, the next step is to perform an analysis of feasibility and cost-effectiveness. It is the step of the initiation process that aims to identify the problem and solution(s) of the project and then evaluate every solution for feasibility and cost-effectiveness.

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