Discuss about financial reports and processes


Assignment:

Handing Over A Project To A New Project Manager :

Potter (2010, slide 3) offers these recommendations when handing over a project to another project manager:

Even when the project appears to be completed there might be as much as 25% of the original costs involved in putting things right, rework and so forth

The three aspects of project afterlife show how successful the project leader and manager has been in terms of:

Ensuring that the client organisation is linked into the project so that they can use it effectively

Auditing the project life cycle and processes and building on strengths to minimize the impact of weaknesses

Dismantling the project team and celebrating the success of the project

Letting go of a project at its winding up is not always easy

He also recommends you (Porter, 2010):

Document the learning

Record best practices and project information

Summarize the effectiveness of the project process

Francis (2015) provides this checklist to follow when handing over a project:

Project documentation (risk and issue logs, project plan and charter, project schedule, etc.)

All documents involved in initial project plans

Change requests throughout the project

Financial reports and processes

Deliverables of the project have been accepted by both the client or sponsor

Project status reports have been reviewed with your team and are up to date

Financial reports and processes complete

A list of contacts and their job roles

Staff evaluation and performance reports completed

Introduce the new Project Manager to team members and stakeholders

Suggest next steps for the new Project Manager

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Project Management: Discuss about financial reports and processes
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