About this lesson
In many organizations, a final report is prepared after all project activities have been completed and the impact of the project results have been demonstrated in business performance metrics.
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Quick reference
Final Report
In many organizations, a final report is prepared after all project activities have been completed and the impact of the project results have been demonstrated in business performance metrics.
When to use
A final report is just that, final. It is the last thing completed by the project manager on the project; and is often prepared by the project management office after the project team has been disbanded. It is most commonly used with large projects or those funded by an external customer who requires it as a deliverable. It is seldom prepared for small projects.
Instructions
The final report is typically used as an “executive summary” of what happened on the project. The report will provide a brief overview of the project purpose and the project approach. It will then summarize the final results of the project execution and the impact that the project is making on the business performance metrics. The report will often include a summary of the results of the lessons learned session.
The final report can be used for several purposes.
- It may be required by contract if the project was funded by an external funding source such as customer or government agency.
- It is used for continuous improvement activities within the project management office or with stakeholders who are responsible for projects. The best practices and lessons learned are used to improve project planning and execution on future projects.
- It is used by business operating managers. The results of the project, such as sales impacts, cost impacts, or productivity impacts, are used by the operating managers when making decisions about what future projects are funded and the likelihood of success. This allows them to improve both long term strategic planning and short term performance metrics.
- It is used when a project audit must be accomplished for legal or governance reasons. The report provides a summary of what happened and guides the auditors in their analysis.
- The report is used to assist functional managers when doing personnel performance appraisals for project team members. When operating in a matrix organization, the functional managers may not have had an opportunity to oversee an individual’s work. The final report will help to document the business impact of the project effort.
As can be seen from all these uses of the report, it is often read by many people. The report should be taken seriously. It is the long-term record of the project. Also, the report should be a stand-alone document. Many of the readers will not have a deep knowledge of the project, how it was planned, executed, and performed.
Login to download- 00:03 Hi, I'm Ray Sheen.
- 00:05 Let's wrap this up now by talking about the project final report.
- 00:11 >> The final report has many potential uses.
- 00:14 But one of the most important is that of continuous improvement.
- 00:17 When we think of continuous improvement we often think of the shoe hard cycle plan,
- 00:21 do, check, act.
- 00:22 Professor had explained it this way.
- 00:25 The first step is to plan.
- 00:26 We decide to take some action to improve the business.
- 00:29 In our case, it was we decided attempt the project.
- 00:33 So the next is to do.
- 00:35 We implement the project plan and conduct the work of the project.
- 00:39 Then we check.
- 00:40 We complete the project deliverables, and we check to see if our plan worked and
- 00:43 whether the deliverables had the business impact that we expected.
- 00:47 Finally, there's act.
- 00:48 In this case, we take the results of the project to improve what we will do next.
- 00:53 This is why this continuous improvement.
- 00:55 The actions from the previous project will have changed the business,
- 00:58 hopefully for the better.
- 01:00 We'll build on the successes of the previous project
- 01:03 to do an even better job on the planning and execution of the next project.
- 01:07 And we'll leverage the results of the project in the selection of
- 01:09 the next project to get even better business performance.
- 01:14 The final report should be viewed as executive summary of the project.
- 01:17 It does not need to have every project documented and deliverable.
- 01:21 But it does need to explain the story of the project.
- 01:24 It should explain why the project was initiated in the original goal.
- 01:28 It should have an outline of what was done the project highlight the obstacle and
- 01:32 success.
- 01:33 It should explain the impact on project had on business matrix.
- 01:37 And finally, should include the summary of the lessons learned for
- 01:40 use on future projects.
- 01:42 Incidentally, success or
- 01:43 failure is not just project management success of on time and on budget.
- 01:47 It needs to include the perspective of the projects sponsoring key stake holders.
- 01:51 Did the project achieve the goals and objectives that were the foundation for
- 01:54 the business case?
- 01:56 That's why the final report is often prepared
- 01:58 after the project is being completed for short time, such as two or three months.
- 02:03 By that time, the project impact should be evident.
- 02:06 That the new sale materialized then we realized the cost savings or
- 02:10 cycle time improvement.
- 02:11 This is the key part of determining the ultimate success or
- 02:14 failure of the project.
- 02:16 In that way the final report will be used to help the selection and
- 02:19 initiation of future projects.
- 02:21 The stakeholders who have a better understanding of what types of projects
- 02:25 are viable.
- 02:26 They will be better able to make reasonable estimates
- 02:29 about project activity and business impact.
- 02:32 Ultimately, this will improve the business's ability to develop and
- 02:35 implement its strategy.
- 02:37 The last thing I wanna add with the discussion of the final report
- 02:40 is that a personal performance appraisal.
- 02:43 Any individual will improve when they get good feedback.
- 02:46 By good feedback, I mean appropriate positive and negative feedback.
- 02:50 Positive feedback for what they're doing well and should continue.
- 02:54 Negative feedback for the areas that are inadequate with recommendation for
- 02:58 how they should change.
- 03:00 The final report can be a valuable reference when doing the annual
- 03:03 performance appraisals and providing feedback to employees.
- 03:07 Project work is often done in a matrix organization.
- 03:10 The consequences that the supervisor of many team members may not be familiar
- 03:15 what the team member has been doing on a day to day basis.
- 03:18 And they may not fully understand the business impact of the project work.
- 03:22 The final report can help them manage or preparing the performance appraisal to
- 03:27 make a better assessment of the business impact of that individuals effort.
- 03:31 The final report is not just a meaningless document that gets thrown together at
- 03:36 the end of the project.
- 03:37 It's the permanent record, it's used in business strategy,
- 03:41 continuous improvement and for performance appraisals.
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