In this assignment teams will complete one (1) of three (3) possible project options: Your local facilitator will advise you on the options available to you at your campus.
A business start up project,
A self-selected business challenge
An Industry Project (including the Bendigo Bank Challenge) (Melbourne Only)
In each case you will be required to undertake substantial background research, devise a recommendation/solution from a range of options, identify impacting issues and prepare project documentation. Your project will form the basis of your industry presentation.
2a. Project Outline
The Project Outline describes in broad terms the purpose of the project, the background (ie why did you choose this particular project), the scope and the project objectives. Teams should complete the Project Outline and ensure that it is limited to one page. In producing this document you must use size 12 font and a minimum margin of 2cms. A minimum of 2 references must be utilized. Please refer to the template on VU Coll.
2b. Project Initiation Document (PID)
The purpose of a PID is to define elements of the project. It includes both a Business Case (which you did in Professional Development 2) and how you are going to implement the project. A PID is used by management (or investors) to assess your concept and to judge its potential to succeed. Information included in the PID will answer the following questions for management or investors:
What is the project aiming to achieve?
Why it is important to achieve it or is there a market for the product? Who will be involved and what are their responsibilities?
How will it be undertaken and organised?
How much will it cost?
A PID outlines all of the essentials to form a firm foundation for the project, including project objectives, project scope, business benefits and risks, stakeholder analysis and project timeframes. Note: This is the final document and forms the basis upon which your final industry panel presentation is made. There should be no ambiguity. The PID should clearly outline why, what, when and how the project is going to be done.
As a PD3 student you will be working in a team on one specific project. Your project may be from the following categories. Please refer to your local facilitator for further details.
Business Start Up
Industry Project (Details to be confirmed)
All of the project options will ensure you maximise your learning whilst you work on a real life business challenge! Please refer to VU Coll for a detailed description of each of the project options.
Project Initiation Document (PID) Template
Templates for the PID documents have been provided on VU Coll. It is compulsory to use the template provided. Should you believe it necessary to make changes to the template based on your unique project, these changes must be negotiated with your facilitator and stream leader. It is essential to give particular attention to how you format and present the document.
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