Conceptual framework supporting Whizible initiatives
Risk vs costs through the lifecycle of new initiatives
- As the clarity improves during the execution process, the risks mitigate but costs accrue
- When the number of initiatives is large, it becomes difficult to prioritize initiatives that are aligned with the organization’s business goals
- The risks at this stage are high and closing the right initiatives to follow through and convert into programme is vital to contain the costs that accrue in execution stage
Stage Gate methodology
Stage Gate methodology ensures that the information captured and validated at every stage of the evaluation. It is vital that there is an online repository of all the initiatives, which can be reviewed through checklists at appropriate stages.
Some Example of Stage Gate methodology:
- Concept -> pre- feasibility -> Feasibility -> Implementation -> launch -> review
- Initiation -> Initial assessment->Definition-> Execution->Completion
- Ideation-> Preliminary Investigation->Business case->Realization->Commissioning->Handover acceptance
- Idea generation->Research->Authorization-> Production-> Commissioning->Completion
- Request for enhancement->PMO lead review->stakeholder review-> stakeholder approval->Directors review->Team review->Assign Project Code
The following diagram depicts different stage gates that an initiative progresses.
Whizible initiatives provides an optimal platform for standardization, Stage gate approval workflow and conversion of approved workflow into programs and projects. Whizible initiatives adopts the Stage Gate Methodology and facilitates multiple and extensive review of any project.
Standardize Initiatives Templates
Whizible initiatives provides intuitive, easy to complete templates to capture all of the relevant information about an initiative. It also routes this to stakeholders to facilitate uniform communication and gain common understanding of the importance.
The information is also dependent on all the stages. Any supporting documentation such as business cases, design specification and SWOT analyses can also be attached to the initiatives.
Categorize and Prioritize initiatives:
Initiatives can also be categorized using any number of different criteria, to enable an appropriate filtering and management of the portfolio of initiatives.
Prioritization is done based on the criteria important to the organization.
The stage gate process ensures that the initiatives progress through the various phases of decision points in a planned manner based on defined workflow.
Dashboard to Monitor Initiative:
Whizible initiatives uses Dashboard to graphically show all the projects or initiatives in a portfolio in a variety of ways.
This helps senior management to evaluate, approve or reject, authorize programs within the product itself.
The execution status of the programs can also be monitored through Dashboard.
While Whizible initiatives allows organizations to capture, prioritize and choose the right initiatives, Whizible Project Enterprise Management (Whizible PEM) allows them to manage the complete lifecycle of execution of programme and projects.
Whizible PEM software suite provides modular solution for all project management processes such as
Project Planning, WBS and Processes, Resource scheduling and management, Timesheet and invoicing management, a Helpdesk for issues management for project teams and customers, business intelligence Dashboard, Custom metrics and project closure and knowledge management.
Whizible Initiatives and PEM together, provide a seamless monitoring of employee driven organizational initiatives as well as the up-to-date execution status to the management.
Most users of Whizible initiatives also select Whizible PEM to achieve the holistic enterprise project portfolio and resource management.