Here we present the minimum standards for defining a project. These should be followed in order to clearly communicate the objectives to all people involved. This project definition stage forms the basis for a more detailed concept and for the further project development. The project definition should include – at least - the following essential basic data:

WHAT WOULD YOU LIKE TO ACHIEVE?

• Which problem are you addressing?

• Why is this project needed?

• Who will benefit from the result(s)?

• Set out the clear objective of the project

HOW WILL YOU ARCHIEVE YOUR OBJECTIVE?          

• Do you have the necessary resources? Internal and/or external ones?

• Which tasks do you have to fulfil to reach your objective?

• What is your time schedule?

• Which information is still missing?

• Define a clear workflow

HOW WILL YOU FINANCE YOUR PROJECT?

• Calculate the project budget (including staff costs, production cost, costs for external services/partners, cost for material, cost for eventual travel expenses and so on)

• Are you able to finance your project without help? If not: Check if you can find appropriate funding programmes, and/or prepare for loan application with your bank

• Prepare for finding investors

• Set up a transparent and understandable budget plan

WHO IS RESPONSIBLE FOR WHICH TASKS?

• Who is the project manager?

• Who is in the project team and with which responsibility?

• Who has to deliver what and when?

• Who will monitor the project?

• Define clear rules and responsibilities and write them down

WHY IS YOUR PROJECT INNOVATIVE?

• Do you develop something new?

• Do you optimize an existing product/service?

• Clearly describe the customer’s benefit

DO YOU KNOW YOUR MARKET?

• Do you have sufficient information on market needs?

• Do you know your competitors? Are they working on a similar idea?

• Are there any major technical and or economical risks?

• Update your business model (business plan)