Project Execution Plan: guide plus template
Project Execution Plan: this article explains the Project Execution Plan (PEP) in a practical way. Next to what it is (definition), this article also highlights top define WBS objectives and company goals, the steps required for project fulfillment, other external participants or stakeholders in the project, the components for good project execution plan and a Project Execution Plan template (word) to get started! Enjoy reading!
What is a Project Execution Plan (PEP)?
The Project Execution Plan (PEP) is a document that describes the objectives you want to achieve in a company with the time and resources needed such as costs, quality, benefits, etc. The WBS is a document that controls, executes and monitors the projects.
The importance of the decision making process of the company will make it easier to achieve the fulfilment of objectives to achieve the success of the projects you have.
In order to achieve the goals that the organization has, it is necessary that the project execution plan is in phases, in which each phase is connected to the next in order to achieve the results that are needed.
Those involved in the project are the basis for the completion of the structure, so it is necessary to include the following people for a good WBS Project Execution Plan:
- Project Manager
- Customer
- Organization executing the plan
- Project team members
- Project management team
- Sponsors
- Influential
Points that a WBS should include:
- Scope of work
- Project objectives
- Recruitment strategy
- Communications Plan
- Technology and information
- Roles and allocation of responsibilities
- Human resources
- Project control
- Budget
- Timeline
- Quality management
project execution plan: Define WBS objectives and company goals
Decision on the size and timing of the project
It is very important that a company is decisive regarding the duration of the project they want to carry out.
Choosing the type of employees needed for the achievement of the goals, the budget during the process and the materials and technology needed for the achievement of the project.
Step by step you will make the stipulated time necessary for the fulfilment of deliveries.
Identify the objectives and goals to be achieved (feasible and quantifiable)
What do you want to achieve with the project such as reducing costs, entering new markets, creating a new product/service and making it successful, changing or renewing the structure of some work process, implementing new raw materials and making employees feel at ease etc.
And the business goals such as achieving more economic income, optimizing processes in the organization, fulfilling the stimulation to employees to be happier in the working environment.
Agreement of the goals with the stakeholders
Bring together the people who need to be involved in the project, whether they are employees or suppliers. Meetings for consensus on responsibilities or decision making are vital for achieving the objectives.
Implementation of method for monitoring project execution
Establish success indicators, with which you can measure, observe and control the project process. Economic value can be essential for project plan execution metrics such as money saved, benefits being earned, team performance, etc.
Steps required for project fulfillment
- Building a good team
- Determine the tasks that are necessary to achieve the project objectives
- Identify possible risks that may arise
- Organize the documents that are necessary for the execution of the plan such as: risk plan document, tests and software
- Backup system or plan B for the phases of the project process
Brainstorming with the team
Most of the time people have many ideas, but they don’t know how to put them in order or how to make our way of thinking and methodology known to the people you are working with. This is why brainstorming for the Project Execution Plan can be the outcome of what you want to do, how to do it and what you want to achieve.
This is why when you have already selected your team, the brainstorming can be the icebreaker to structure the execution of the project plan. Each person can express their ideas and comments to enrich the field of work they are in.
With the brainstorming the formation of the plan can be more creative and each member is given the opportunity to share ideas, comments or opinions regarding the project they will be working on.
Work plan and budget
It is valuable to know the hierarchical order of the information that is collected in the execution of the project plan. It is necessary to have a budget of the expenses that can be presented in each phase of the project and also a forecast of the future expenses already finished the project.
The budget can be with a monthly chronogram to have the necessary order in the temporality that is needed in the fulfilment of goals. Look at the following example of how you could organize your cost schedule with the objectives and tasks of the project plan execution.
Objectives -> Task -> Activity -> Responsible -> Results -> Date
This order gives clarity on the schedule people need for project costs and also the fulfilments of each phase.
With the Gantt Chart it is possible to have a more correct structure for the tasks and their temporality in the necessary stages for the fulfilment of objectives in quarters, semesters or annuities.
The time factor depends on the project and its components, according to the previous study you can choose which temporality is better for your project.
Other external participants or stakeholders in the project
Since we are focused on the execution of the project plan, it is necessary to visualize the environment in which the company is or wants to be involved, either in an internal environment with the same employees or in the external environment with customers, investors or other interested parties in the project being structured.
When identifying this environment of possible allies, you must have the time to find out what they want to obtain from the project and why they are interested, so you can work in a more appropriate and specific way with the interested parties.
Components for good project execution plan, the guide
To coordinate and direct, the director must be aware of what is happening in the work team in order to achieve the agreed objectives. The director can organize the meetings and make them productive spaces for the project.
Monitoring and control
Documentation and order is necessary for the good monitoring of the project execution plan which is based on responsibilities, time, costs, communication, reports etc.
This control can be based on the meetings that are formed to look at the progress that has been made with the objectives or in the documentation that is shared with the team where everyone can put their responsibilities and what has been achieved in the temporality that is needed.
Good management of communications
The good handling of communications with the work team will make the execution of the project much more productive, communications can be organized in a personal face to face way or in a systematic and fast way as it is the virtual meetings and the handling of information by the internal channels of the company (online meetings, e-mails etc.)
Human resources
Be aware of the staff that makes up your team is important because it is necessary that employees receive training on a particular topic that is necessary for their productivity, without neglecting the leadership and motivational factor to align the group to develop the activities assigned.
Quality
The project manager must analyse from the beginning to the end the quality of the final product that will be delivered to the clients with the standards and expectations that the organization manages.
Stakeholder
How do the interested parties enter and what do they contribute to the project they are working on? This is important to know what role they play in the project as external people who want but must be aligned with the objectives that the company wants to achieve.
Keep in mind:
- How the stakeholders will be identified
- What type of communications will be held with interested parties
- Level of support they will provide to the project
- Do they need us or do we need them on the project?
- Identify the objectives and what the stakeholders want to achieve with them
- Distribution of project benefits
Conclusion on Project Execution Plan
The Project Execution Plan (PEP) is the basis for the success of a company project since it can achieve significant transformations in the processes of the project that you have in the company and also the economic savings with the schedule that is executed could positively achieve the quality, time and the main objective of the project in good results.
With the PEP developed in a solid and structured way, the project base gives the possibility to take off, and the results are most likely to be realized.
The time factor is essential for the productivity of the employees determining the results they give, that is why a good project start gives a good performance and reduces the number of unforeseen events that can occur in a project.
For the Project Execution Plan to be successful, it is necessary to update the WBS document in each phase of the project with the specific details that are required to meet the objectives.
The PEP must describe the project by observing each stage of the objectives that the company has with the project to be developed and implemented with the organization’s value chain, the scope of the project and the potential risks that may arise, and the team that was satisfied with the due responsibilities that must be met for success.
The Project Execution Plan (PEP) is vital for the director and the team of the project since it establishes the time, the plans, the responsibilities, the reach that is wanted to be achieved of what will be like final product.
It is also a communication tool for the team and its reports, being aware of what each person is doing and how the processes are going in the agreed time frame.
Project Execution Plan template (word)
We invite you to download the Project Execution Plan template in Word format to use in a practical way in your company or business in an easy way.
Download the Project Execution Plan template
This template is exclusively for our paying Toolshero members. Click here to see if a membership is something for you!
Now it is your turn
What do you think? Is the Project Execution Plan important for the structure of a business project? Is the division by phases and temporality for the achievement of objectives essential? Is time a primordial factor for the base of a PEP? Do you use this method in your company for the monitoring of projects? Do you want to add anything else or do you have any suggestions to contribute?
Share your experience and knowledge in the comments box below.
More information
- O’Connor, J. T., O’Brien, W. J., & Choi, J. O. (2016). Industrial project execution planning: Modularization versus stick-built. Practice periodical on structural design and construction, 21(1), 04015014.
- Schilizzi, R. T. (2011). Project Execution Plan Pre-Construction Phase for the Square Kilometre Array (SKA). MGT-001.005, 2011-01012.
- Messner, J., Anumba, C., Dubler, C., Goodman, S. E. A. N., Kasprzak, C. O. L. L. E. E. N., Kreider, R. A. L. P. H., … & Nizic, N. (2011). BIM Project Execution Planning Guide-Version 2.1. Build. alliance, 1-135.
How to cite this article:
Ospina Avendano, D. (2020). Project Execution Plan (PEP). Retrieved [insert date] from Toolshero: https://www.toolshero.com/project-management/project-execution-plan/
Published on: 03/09/2020 | Last update: 12/13/2023
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