A Project Execution Plan (PEP) is a governing document that defines how a project is to be executed, monitored, and controlled. It establishes exactly how the project execution phase of the project will be managed to meet the requirements of the project or contract.
Parts of a Project Execution Plan
The Project Execution Plan can include many activities and attributes. However, there are some essential project execution items that should be included in every PEP.
- Project goals and objectives
- Project stakeholders and their responsibilities
- Cleary defined scope of work
- The work breakdown structure (WBS) or how to manage workflow for all project tasks
- The cost breakdown structure
- KPIs that are to be tracked and reported
- Issue management plan
- Risk management plan, including list of possible risks and mitigation strategies
- How to manage change orders
- Communications plan, including what is to be communicated, to whom and when
- Cleary defined milestones and the process for verifying when milestones are reached
- Clearly defined gateway review process
Go Beyond the Project Execution Plan Template
Project Modeling is a way to make your project execution plan template dynamic. During the initiation phase of the project, Project Modeling enables you to develop more accurate plans in less time, accelerate the sales process, and ultimately, drive better outcomes for your customers.
Download the Project Modeling Whitepaper to learn how to create a streamlined and controlled planning and estimating process for your company.
The Project Execution Plan (PEP) is the basis for the success of a project. It defines how the project will succeed and provides the path for how to get there. Drive better cost control, risk readiness and project delivery with a PEP.