Making a good project description and forecast for new clients

A project description is the structured representation of an idea for a particular venture or project whereas forecasting refers to the prediction of future probabilities that the individual or a company might face. Besides, a new client is unbiased and will be more than likely to compare your results with your rival firms.

Making a good project description

Apart from the name of the organization, project title, time taken and the name of the author, a good project report should incorporate the following essentials:

  • An initial compact project summary.
  • Required documentation, duly attached.
  • A list of project contacts, i.e. people who are associated with the project, along with their contact information and professional details.
  • A detailed project summary elaborating on the questions of How? What? When? And Where?
  • Project background or a brief description of the central theme of the project report and why is it important.
  • A hierarchy of objectives, listing the most important at the top.
  • Project methodology delineating how objectives will be achieved and how potential problems will be addressed.
  • Project schedule outlining a time frame for each task.
  • Estimated overall project costs including a detailed project budget and budget narrative justifying the proposed costs.
  • And last but not the least; your project report should include a conclusion and an appendix complete with the charts, graphs and illustrations alluded to in the report.

Tips for great forecasting

  • Give importance to historical statistics and data.
  • Being aware of the organization market position and risk bearing capacity.
  • Making provisions for the worst case scenario while hoping for the best outcome.
  • Conduct thorough research and be informed about the market dynamics.
  • Graphical and tabular representation of data is always welcome as it helps to make your presentation more interactive and attracts the client.

Making an appealing project description and a valid forecast for a new client is a daunting task mainly because it requires immense self conviction on part of the project manager in order to successfully convince his clients.

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