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Finite States Methodology


Project Management Methodology
Finite States will use its Project Management (PM) methodology to manage this project. Finite States will track progress against the project weekly plan, and will provide a weekly written status report to the client. Finite States will utilize the status report format that is currently being used by the client, which consists of:

  • Project Summary
  • Overall Status
  • Accomplishments of this period
  • Activities Planned for the Next Period
  • Milestones/Deliverables Status
  • Open Issues and Risks
  • Budget
  • Additional Information

In addition, a weekly project status meeting will be held with key stakeholders of the project to discuss the current status. In addition to these formal status reports, we will inform the client project manager assigned to this project immediately if anticipated changes or other factors threaten to increase our estimated costs or schedule.

Project Management
The primary objectives of this activity are to define the project, manage the production of deliverables, manage the project schedule, and ensure that the client is informed of the project's progress. Project management is an ongoing activity through the project.

The following tasks will be performed during this activity:

  • Develop a Statement of Work, schedule, and project plan
  • Prepare status reports
  • Track the project progress against the project plan
  • Manage Finite States's resources to ensure delivery of the agreed upon milestones
  • Manage and resolve issues
  • Manage risks
  • Maintain a project notebook
The following deliverables will be produced during this activity. Each deliverable requires a sign-off by the client, as documented in the Acceptance Procedure:
  • Statement of Work(SOW): The SOW defines the requirements and issues of the project, and states both Finite States's and client expectations. The SOW describes the approach and highlights the responsibilities of both Finite States and client.
  • Detailed Project Plan: Finite States will develop a detailed project plan at the beginning of this project. This plan will identify all milestones, activities, and tasks to be performed within this effort, and assign resources, durations, and deliverables to each task. This project plan will be updated on a weekly basis with actual hours worked, and revised estimates to complete. This plan will be made available to the client on a weekly basis.
The following work products will be produced during this activity. Work products do not require sign-off by client:-
  • Weekly Status Reports: The project manager will develop and submit to the client, weekly status reports using the status report format that is currently being used by Fireman's Fund.
  • Issues Log: The project manager will maintain an issues log describing any problems that arise, the action to be taken to correct the problem, and who is responsible for taking the action.
  • Risk Management: Risk Management and Mitigation.
  • Project Notebook: The project manager will maintain a project notebook containing all project components including the SOW, Project Plan, PSS Reports, Status Reports, Signed Change and Acceptance Forms, etc.