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The project approval process is often rushed.
It’s understandable that you want to quickly and efficiently evaluate and launch new projects to stay competitive.
But a well-defined project approval process is critical to achieving these goals.
This article will guide you through the steps, benefits, and considerations you should consider before implementing this process.
The project approval process incorporates a structured set of steps that a project must go through before it can begin.
It is essentially a roadmap that ensures that the right projects are undertaken at the right time and with the right resources.
A well-defined project approval process can also help you reduce risks, make better decisions, and increase accountability. That’s why it’s important to get it right to avoid problems later on down the line.
Let me show you how.
Because the process involves obtaining approval from various stakeholders, it can be tricky to manage it well.
That’s why I’ve broken down the project approval process into several stages that you may find useful to follow:
Remember that throughout the whole process, approvals must be obtained before proceeding to the next stage.
Having a well-thought-through project approval process in place comes with a number of benefits:
It helps reduce risk by ensuring that projects are aligned with business objectives and that resources are allocated efficiently.
This is particularly important in industries such as healthcare or finance, where regulatory compliance and risk management are critical.
A project approval process can improve decision-making by providing a structured framework for evaluating projects.
What this means is that you can ensure the projects are assessed objectively and based on pre-defined criteria.
As a result, you’ll be able to make informed decisions about which projects to pursue and which to reject.
A project approval process can increase accountability by defining roles and responsibilities and establishing clear metrics for success.
In turn, this guaranteed that everyone involved in the project understands their role and the project’s objectives.
A project approval process makes it easy for the project to be delivered on time, within budget, and to the required quality standards.
A project approval process boosts communication by ensuring that stakeholders are involved in the project from the outset.
The result? Everyone involved in the project is aware of its status and progress, which facilitates transparency and improves trust.
Now, I’d like to show you a couple of examples to help me better illustrate how the project approval process may look in action.
I’ve devised this rough approvals plan to demonstrate how you would go about your approval process.
So let’s say you are running a software development company and have a new feature you want to release to your customers:
The development team creates and tests the new feature thoroughly in a staging environment.
Then, the QA team reviews the new feature to ensure it meets the company’s quality standards and works as expected.
The product management team reviews the new feature to confirm it aligns with the overall product strategy and customer needs.
The legal team reviews the new feature to make sure it complies with legal or regulatory requirements.
The executive team then reviews and approves the new feature for release to customers.
The new feature is released to customers.
By having a clear approval process in place, the company can ensure that they are releasing high-quality features that meet the needs of their customers while minimizing the risk of any legal or regulatory issues.
This approval process example is more or less the starting point we’d like to see when releasing a new feature.
Now, let’s move on to what you don’t want to be doing.
Let’s say you work for a marketing agency, and your approval process for creating new marketing campaigns is as follows:
This approval process has a few issues:
There is no involvement from other teams, such as legal, compliance, or even the client’s marketing team.
This can lead to potential legal or compliance issues and a lack of alignment with the client’s strategy.
The approval process includes multiple rounds of revisions, which can delay the campaign launch and increase costs.
Before seeking approval for a project, you should define what the project intends to achieve and the scope of work needed.
This will help ensure that stakeholders clearly understand what the project is for.
Identify and involve all stakeholders
Determinate all stakeholders impacted by the project and involve them in the approval process.
When I say “stakeholders”, I mean, for example:
Involving relevant people in the approval process will ensure the project aligns with their needs and requirements.
A detailed project plan that outlines all project tasks, timelines, and dependencies is essential for getting approval for the project.
The project plan should be comprehensive, outlining all aspects, from initial scoping to final delivery.
Try to establish as transparent and streamlined approval process as possible.
This could include:
Effective communication is crucial throughout the project approval process.
Stakeholders should be kept informed of progress, milestones, and any changes to the project plan or scope.
Once the project is approved, it’s you can monitor progress to ensure that the project is staying on track and meeting its objectives.
Provide regular progress reports to stakeholders, and address any issues promptly.
While you could deal with all the approvals yourself, there is a better and faster way to do this – software.
With Process Street, you’ll create custom workflows that align with your specific project approval criteria so all projects are properly vetted and meet the necessary standards before proceeding.
One of the key benefits of using Process Street is the ability to automate the approval process, such as:
Here is a free process management process checklist that you can start to use right now. This template provides the basic framework to keep every one of your projects on track and on target.
So why not take a look at Process Street’s website to see how we can help your project approval process?
There’s no doubt that a clear and effective project approval process is essential for success.
By having a project approval process in place, you’ll:
Yes, implementing a project approval process may come with challenges and pitfalls, but these can be overcomed by careful planning.
And don’t be afraid of utilizing relevant tools and software! These can come significantly speed up the whole process and streamline your operations, too.
So involve your stakeholders in the development process, communicate clearly and frequently, and establish clear metrics for success.
If you do, the project approval process will be implemented, and your business will achieve its goals.