Defining Project Goals and Objectives

 The essence of any successful project is to define clear and measurable goals. In this chapter, the methods of drawing up SMART goals, stakeholder analysis, and detailed project charter that is consistent with the project vision and stakeholder requirement will be discussed.

                                                                               

SMART Goals

SMART Goals

SMART Goals and Objectives Acronym SMART goals and objectives is a goal setting framework that specifies and lays out a clear, easy, and quantifiable goal. SMART is an acronym that means:

• Specific

• Measurable

• Achievable

• Relevant

• Time-bound

Using this format you will be able to develop goals that are focused and offer the clarity of what has to be achieved and how success will be established. Each of the components is explained below:

1. Specific

The objective must be objective. It ought to have terms with who and what, where, when and why of what is being aimed at. Specificity helps in avoiding ambiguity and ensures that all the parties involved know what is expected of them.

Example:

Rather than, the improvement of customer service, a particular objective would be: The enhancement of customer satisfaction scores by 10 percent through the improvement of the customer service response time.

2. Measurable

You have to have a means of reviewing progress and when the goal has been reached. Measurable component is the ability to be quantified.

Example:

Instead of having the goal of increasing the sales, a concrete goal relating to the same could be: Increase sales by 15 per cent in the next quarter and updated through weekly sales reports.

3. Achievable

The objective must be something achievable taking into consideration time, available resources and capability. It ought to exert you without being that which is unattainable.

Example:

As an alternative to the unrealistic objective of doubling the market share within a period of three months, one may identify the following better objective: Double market share within 3 months" will be changed to: "Increment our market share by 5% over a period of 6 months by rolling out specific marketing campaigns."

4. Relevant

It should be a goal with wider business intentions and of significance to the success of the organization or the project degree. It must be relevant to you and it must be part of the greater picture.

Example:

Rather than using the goal Learn one new software, a desirable goal may look like this: Implement a new customer relationship management (CRM) program, which will enhance efficiency of sales teams and customer interaction.

5. Time-bound

The goal must have a definite timeline on when it should be achieved. A deadline means a sense of urgency and concentration, which keeps a project moving.

Example:

Rather than, Increase employee retention, this would be a time bind: Increase employee retention by 10% in the next year through providing employees with career development opportunities.


An example of SMART Goal is as follows:

Grow the number of visitors to the websites by 20% in 6 months through improving SEO, producing weekly blog posts, and monthly paid advertisement campaigns."

Specific: Gain more traffic in the site

To be measured: 20 percent increase

Attainable: In a span of 6 months through planned activities

Relevant: According to the objectives of the business to expand online presence

Time-limited: In 6 months


Getting SMART Objectives Apart

In project implementation of SMART goals, every goal may be subdivided into smaller manageable goals that are of actionable orientation. These are small measures that will result in the accomplishment of the main purpose.

For example:

Strategic objective: Growing the traffic of the site by 20 percent in 6 months.

Objective 1: Enhance the SEO and optimize 5 most important pages monthly.

Objective 2: Write 4 blogs each month on topics in the industry.

Objective 3: Run a paid advertisement in the form of best-selling items.

Objective 4: Do more to promote social media interactions with posts every day and target advertising.

All of these objectives are a definite step in accomplishing the greater goal and they all follow the SMART criteria.


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