It Works: Applying Project Management Techniques to Due Diligence Efforts
The basic techniques of project management, when applied in their rawest form, provide a framework for informed decision making for even the most complex and potentially predetermined organizational actions.
Project management techniques establish order and clear responsibilities in the conduct of an organizational-level, strategic, due diligence effort. The application of these concepts by business leaders in their rawest form provide invaluable tools for successful implementation of due diligence efforts. The use of a work breakdown structure (WBS) assists in developing a structured review framework in a rapid, organized, and cost-effective manner.
The developed structure from the WBS can also prevent organizational biases in one area of the company from influencing the decision-making process across the whole organization, resulting in a collaborative, research-based opinion. Additionally, the use of traditional organizational communication paths leveraged by project coordinators can reduce the time it takes to develop a due diligence team within an organization.
The use of project management techniques that are expanded past the traditional project environment can serve as a framework for a due diligence review effort. The concepts of...
- Work breakdown structures (WBS),
- Project schedules,
- Reporting structures,
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