Question

for a project internal to your company the business objectives of the project are defined by :

a) the sponser

b) the project manager

c) the project team

d) costumers and the market place

Answer 1

Ans.d) customers and the market place

The commercial or business adjectives of a project internal to a company are for providing the customers in a marketplace certain offering that they want. For instance, a company producing soaps may get to know about the new consumer trend of buying the fragrant soaps through market research. It might consequently work on an internal project to produce the new fragrant soaps following the requirements that are defined by the marketplace and the customers.

Commercial objectives are explanations or reasons that point out or detail the expectations of customers from a business, and the reasons for the existence of the company. Commercial objectives an also take the form of objectives or goals of a project internal to an organization may be based on market analysis, and require setting the appropriate goals and objectives and choosing the right pricing strategies, strategies.

Internal projects are not sponsored by any external party or client, but by the company itself. The project team tries to find out the remedy to problems that may be posed by the marketplace and the customers. There may be a difference is the skill requirement for team members and project managers handling internal and external projects. Teams handling external projects will have more experience in handling issues that the clients of the company face in their marketplace. Teams for internal projects should hence have knowledge, information, and skills in areas pertaining to their own environment and market base. Handling of internal projects can be relativity easier for the project manager and the project management team as they may be already aware of many of the objectives and goals of the organization, the internal culture of the company where they work, as well as its strength and weaknesses. There is a reduced fewer probability of data leaks as well as the project team is aware of the different security issues as well as the policies that apply to project management.