Project Execution Model (PEM)
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| − | A project is defined as: "A temporary | + | A project is defined as: "A temporary endeavor undertaken to create a unique product, service or result". The Project Execution Model (PEM) is a project model for managing projects based on best practice in one of the biggest company's in Denmark. It is a stage-gate project model that consist of five phases, which guiding project managers to successful completion of each project phase. The main focus of PEM is investment projects, but can easily be adopted for non-investment projects as well. |
| − | The procedure establishes a framework to ensure that that projects and programs are identified, captured, scoped, planned, executed and closed in a | + | The procedure establishes a framework to ensure that that projects and programs are identified, captured, scoped, planned, executed and closed in a standardized and efficient manner according to the PEM model. |
[''picture of the PEM model''] | [''picture of the PEM model''] | ||
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'''Phase 4''' | '''Phase 4''' | ||
| − | + | Realize phase | |
'''Roles and responsibilities''' | '''Roles and responsibilities''' | ||
Revision as of 22:03, 13 September 2015
A project is defined as: "A temporary endeavor undertaken to create a unique product, service or result". The Project Execution Model (PEM) is a project model for managing projects based on best practice in one of the biggest company's in Denmark. It is a stage-gate project model that consist of five phases, which guiding project managers to successful completion of each project phase. The main focus of PEM is investment projects, but can easily be adopted for non-investment projects as well. The procedure establishes a framework to ensure that that projects and programs are identified, captured, scoped, planned, executed and closed in a standardized and efficient manner according to the PEM model.
[picture of the PEM model]
Each phase in the PEM model has a gate, where the project is evaluated by line management, portfolio manager, project owner, steering group and project sponsor. At gate 1, 2 and 3, these stakeholders review the project by either approve or reject it. At gates 4 and 5 line management evaluate and approve the project deliverables based on the PEM gate checklist (described in phase 4).
In the following each phase will be described:
Phase 1
The idea phase.
Phase 2
Initiate phase
Phase 3
Analyse phase
Phase 4
Realize phase
Roles and responsibilities
