Project objectives are meaningful steps towards business goals that are accomplished by a project. They are commonly used to communicate project purpose, direction, value and progress. The following are common types of project objectives.
RevenueRevenue and related targets such as market penetration for a new product.
CostReducing costs such as automation that reduces labor costs.Getting more output for a unit of input. For example, reducing the energy costs of a facility. Getting more output for an hour of work. For example, software applications that speed up work or improve its quality.
Information that improves decisions such as a report.Systems that automate decisions such as an algorithm that approves or rejects access data access requests.Customer experience such as the usability of a product or service.
Brand objectives such as brand image and brand awareness.Developing relationships with customers such as a tool that qualifies leads for a sales process.Improving business processes. For example, using a cell production technique to reduce the downtime of a production line.
Developing business capabilities. For example, a telecom company launches a program to engage universities to hire new graduates.Developing or improving knowledge such as competitive intelligence. In many cases, knowledge is an objective but not an end goal. For example, a feasibility study for a new technology.
Developing data or improving data quality.
IntegrationConnecting things and getting them working together.Compliance with rules, regulations, standards and practices.Reducing your impact on the environment and/or improving the quality of life of communities.
Identifying and treating business risks. For example, a tool that estimates foreign exchange risk based on sales forecasts.Improving your organizational culture such as a office redesign intended to reflect your work processes.
SkillsTraining and tools to improve skills. For example, training employees in a new process, system or application.Improving the quality of your products, services, processes, environments, experiences, systems, knowledge or data.
PerformanceImproving the performance of products, services or processes. For example, improving the turnaround time for customer orders.
NotesGoals are things the business is trying to achieve. Objectives are steps towards goals. For example, a goal is revenue and an objective is launching a new product to achieve revenue. Project objectives often include both objectives and goals.Project objectives should not be confused with project management objectives.Next Read: More Examples of Project Objectives
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