• No results found

ISO 10006 - Project Management

N/A
N/A
Protected

Academic year: 2021

Share "ISO 10006 - Project Management"

Copied!
26
0
0

Loading.... (view fulltext now)

Full text

(1)

%5,7,6+67$1'$5'

%6,62



4XDOLW\PDQDJHPHQW ¦

*XLGHOLQHVWRTXDOLW\LQ

SURMHFWPDQDJHPHQW

,&6

(2)

%6 ,62

7KLV%ULWLVK6WDQGDUGKDYLQJ EHHQSUHSDUHGXQGHUWKH GLUHFWLRQ RIWKH0DQDJHPHQW 6\VWHPV6HFWRU%RDUGZDV SXEOLVKHGXQGHUWKHDXWKRULW\ RI WKH6WDQGDUGV%RDUGDQG FRPHV LQWRHIIHFWRQ )HEUXDU\ ‹%6, ,6%1

1DWLRQDOIRUHZRUG

7KLV%ULWLVK6WDQGDUGUHSURGXFHVYHUEDWLP,62 DQGLPSOHPHQWVLW DVWKH8.QDWLRQDOVWDQGDUG 7KH8.SDUWLFLSDWLRQLQLWVSUHSDUDWLRQZDVHQWUXVWHGWR7HFKQLFDO&RPPLWWHH 063URMHFWPDQDJHPHQWZKLFKKDVWKHUHVSRQVLELOLW\WR ¦DLGHQTXLUHUVWRXQGHUVWDQGWKHWH[W ¦SUHVHQWWRWKHUHVSRQVLEOHLQWHUQDWLRQDO(XURSHDQFRPPLWWHHDQ\ HQTXLULHVRQWKHLQWHUSUHWDWLRQRUSURSRVDOVIRUFKDQJHDQGNHHSWKH8. LQWHUHVWVLQIRUPHG ¦PRQLWRUUHODWHGLQWHUQDWLRQDODQG(XURSHDQGHYHORSPHQWVDQG SURPXOJDWHWKHPLQWKH8. $OLVWRIRUJDQL]DWLRQVUHSUHVHQWHGRQWKLVFRPPLWWHHFDQEHREWDLQHGRQ UHTXHVWWRLWVVHFUHWDU\ &URVVUHIHUHQFHV 7KH%ULWLVK6WDQGDUGVZKLFKLPSOHPHQWLQWHUQDWLRQDORU(XURSHDQ SXEOLFDWLRQVUHIHUUHGWRLQWKLVGRFXPHQWPD\EHIRXQGLQWKH%6,6WDQGDUGV &DWDORJXHXQGHUWKHVHFWLRQHQWLWOHG§,QWHUQDWLRQDO6WDQGDUGV&RUUHVSRQGHQFH ,QGH[¨RUE\XVLQJWKH§)LQG¨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

(3)

%6 ,62

‹%6, L

&RQWHQWV

3DJH 1DWLRQDOIRUHZRUG ,QVLGHIURQWFRYHU )RUHZRUG LLL 7H[WRI,62 

(4)
(5)
(6)

%6,62 

LL

&RQWHQWV

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¦ 5HIHUHQFHV WR WKH,62  IDPLO\RIVWDQGDUGV  $QQH[% LQIRUPDWLYH 8VHRISURJUHVVHYDOXDWLRQVIRUTXDOLW\  $QQH[& LQIRUPDWLYH %LEOLRJUDSK\  7DEOH¦'HVFULSWLRQRISURMHFWPDQDJHPHQWSURFHVVHV  'HVFULSWRUV4XDOLW\DVVXUDQFHTXDOLW\DVVXUDQFHV\VWHPVTXDOLW\PDQDJHPHQWSURMHFW PDQDJHPHQWUXOHV LQVWUXFWLRQV 

(7)

%6,62 

‹%6, LLL

)RUHZRUG

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

(8)
(9)

%6 ,62 

‹%6, 

,QWURGXFWLRQ

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ªVVWDWHGDQGLPSOLHG QHHGVDUHXQGHUVWRRGDQGPHWWKDWRWKHU VWDNHKROGHUVªQHHGVDUHHYDOXDWHGDQGWKDWWKH RUJDQL]DWLRQªVTXDOLW\SROLFLHVDUHWDNHQLQWR DFFRXQWIRULPSOHPHQWDWLRQLQWKHPDQDJHPHQWRI WKHSURMHFW

6FRSH

7KHVHJXLGHOLQHVXVHSURMHFWPDQDJHPHQWSURFHVVHV WRVHUYHDVDIUDPHZRUNWRGLVFXVVWKHLUDSSOLFDWLRQ 7KLV,QWHUQDWLRQDO6WDQGDUGLVDSSOLFDEOHWR SURMHFWVRIYDU\LQJFRPSOH[LW\VPDOORUODUJHRI VKRUWRUORQJGXUDWLRQLQGLIIHUHQWHQYLURQPHQWV DQGLUUHVSHFWLYHRIWKHNLQGRISURMHFWSURGXFW LQFOXGLQJKDUGZDUHVRIWZDUHSURFHVVHGPDWHULDO VHUYLFHRUFRPELQDWLRQVWKHUHRI 7KLVPD\ QHFHVVLWDWHVRPHWDLORULQJRIWKHJXLGDQFHWRVXLWD SDUWLFXODUSURMHFW 7KLV,QWHUQDWLRQDO6WDQGDUGLVQRWDJXLGHWRSURMHFW PDQDJHPHQWLWVHOI

1RUPDWLYHUHIHUHQFHV

7KHIROORZLQJVWDQGDUGVFRQWDLQSURYLVLRQVZKLFK WKURXJKUHIHUHQFHLQWKLVWH[WFRQVWLWXWHSURYLVLRQV RIWKLV,QWHUQDWLRQDO6WDQGDUG$WWKHWLPHRI SXEOLFDWLRQWKHHGLWLRQVLQGLFDWHGZHUHYDOLG$OO VWDQGDUGVDUHVXEMHFWWRUHYLVLRQDQGSDUWLHVWR DJUHHPHQWVEDVHGRQWKLV,QWHUQDWLRQDO6WDQGDUG DUHHQFRXUDJHGWRLQYHVWLJDWHWKHSRVVLELOLW\RI DSSO\LQJWKHPRVWUHFHQWHGLWLRQVRIWKHVWDQGDUGV LQGLFDWHGEHORZ0HPEHUVRI,(&DQG,62PDLQWDLQ UHJLVWHUVRIFXUUHQWO\YDOLG,QWHUQDWLRQDO6WDQGDUGV ,624XDOLW\PDQDJHPHQWDQGTXDOLW\ DVVXUDQFH¦9RFDEXODU\ ,624XDOLW\PDQDJHPHQWDQGTXDOLW\ V\VWHPHOHPHQWV¦3DUW*XLGHOLQHV 127( $QQH[$$QQH[%DQG $QQH[&FRQWDLQIXUWKHU LQIRUPDWLRQDQGDGGLWLRQDOUHIHUHQFHVRQDFKLHYLQJTXDOLW\LQ SURMHFWPDQDJHPHQW

'HILQLWLRQV

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ªV TXDOLW\SODQ

(10)

%6 ,62 

 ‹%6, 127( 7KHSURMHFWSODQDOVRLQFOXGHVVXFKRWKHUSODQVDV RUJDQL]DWLRQDOVWUXFWXUHVUHVRXUFHVVFKHGXOHDQGEXGJHW  VWDNHKROGHU DQLQGLYLGXDORUJURXSRILQGLYLGXDOVZLWKDFRPPRQ LQWHUHVWLQWKHSHUIRUPDQFHRIWKHVXSSOLHU RUJDQL]DWLRQDQGWKHHQYLURQPHQWLQZKLFKLW RSHUDWHV >,62 @ 127( ,QWKHFRQWH[WRIWKLVGHILQLWLRQWKHVXSSOLHU RUJDQL]DWLRQLVWKHSURMHFWRUJDQL]DWLRQ 127( 6WDNHKROGHUVPD\LQFOXGH ¦FXVWRPHUUHFLSLHQWRIWKHSURMHFWSURGXFW ¦FRQVXPHUVXFKDVDXVHURIWKHSURMHFWSURGXFW ¦RZQHUVXFKDVWKHRUJDQL]DWLRQRULJLQDWLQJWKHSURMHFW ¦SDUWQHUDVLQMRLQWYHQWXUHSURMHFWV ¦IXQGHUVXFKDVDILQDQFLDOLQVWLWXWLRQ ¦VXEFRQWUDFWRURUJDQL]DWLRQVXSSO\LQJSURGXFWVWRWKH SURMHFWRUJDQL]DWLRQ ¦VRFLHW\VXFKDVMXULVGLFWLRQDORUUHJXODWRU\ERGLHVDQGWKH SXEOLFDWODUJH ¦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

3URMHFWFKDUDFWHULVWLFV

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§SKDVLQJ¨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

4XDOLW\LQSURMHFWPDQDJHPHQW

SURFHVVHV

*HQHUDO 7DEOHOLVWVDQGVXPPDUL]HVWKHSURMHFW PDQDJHPHQWSURFHVVHVZKLFKDUHFRQVLGHUHGWREH DSSOLFDEOHIRUWKHPDMRULW\RISURMHFWV1RWDOOWKH SURFHVVHVGLVFXVVHGLQWKLV,QWHUQDWLRQDO6WDQGDUG ZLOOQHFHVVDULO\H[LVWLQDSDUWLFXODUSURMHFW ZKHUHDVLQRWKHUVDGGLWLRQDOSURFHVVHVPD\EH QHFHVVDU\

(11)

%6 ,62 

‹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¦VDWLVIDFWLRQRIWKHFXVWRPHUªVDQGRWKHU VWDNHKROGHUVªVWDWHGDQGLPSOLHGQHHGVLV SDUDPRXQW ¦DSURMHFWLVFDUULHGRXWDVDVHWRISODQQHGDQG LQWHUGHSHQGHQWSURFHVVHV ¦DIRFXVRQWKHTXDOLW\RIERWKSURFHVVHVDQG SURGXFWVLVQHFHVVDU\WRPHHWWKHSURMHFW REMHFWLYHV ¦PDQDJHPHQWLVUHVSRQVLEOHIRUFUHDWLQJDQ HQYLURQPHQWIRUTXDOLW\ ¦PDQDJHPHQWLVUHVSRQVLEOHIRUFRQWLQXDO LPSURYHPHQW 7KLVVXEFODXVHJLYHVJXLGDQFHRQFRQVLGHULQJWKHVH FRQFHSWVLQWKHVWUDWHJLFSURFHVV*XLGDQFHRQ FRQVLGHULQJWKHVHFRQFHSWVLQWKHRWKHUSURFHVVHVLV JLYHQLQ DQG  7KHDFKLHYHPHQWRITXDOLW\LQWKHVWUDWHJLFSURFHVV LVGHSHQGHQWRQHQVXULQJWKDWWKHVHFRQFHSWVDUH FRQVLGHUHGLQDOOSURFHVVHV 6DWLVIDFWLRQRIWKHFXVWRPHUªVDQGRWKHU VWDNHKROGHUVª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ª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

(12)

%6 ,62 

 ‹%6, 0DQDJHPHQWLVUHVSRQVLEOHIRUFUHDWLQJDQ HQYLURQPHQWIRUTXDOLW\ 0DQDJHPHQWRIERWKWKHRULJLQDWLQJRUJDQL]DWLRQ DQGWKHSURMHFWRUJDQL]DWLRQVKRXOGFRRSHUDWHLQ FUHDWLQJDQHQYLURQPHQWIRUTXDOLW\7KHZD\VDQG PHDQVWRFUHDWHVXFKDQHQYLURQPHQWVKRXOG LQFOXGHWKHIROORZLQJ ¦SURYLGLQJDQRUJDQL]DWLRQDOVWUXFWXUHDQG VXSSRUWFRQGXFLYHWRPHHWLQJWKHSURMHFW REMHFWLYHV ¦PDNLQJGHFLVLRQVEDVHGRQGDWDDQGIDFWXDO LQIRUPDWLRQ ¦SURYLGLQJIRUSURJUHVVHYDOXDWLRQVDQGXVLQJ WKHPIRUTXDOLW\ VHH $QQH[%  ¦LQYROYLQJDOOSURMHFWSHUVRQQHOLQDFKLHYLQJWKH TXDOLW\RIWKHSURMHFWSURFHVVHVDQGSURGXFW ¦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¦SURMHFWLQLWLDWLRQDQGSURMHFWSODQ GHYHORSPHQWHYDOXDWLQJFXVWRPHUDQGRWKHU VWDNHKROGHUUHTXLUHPHQWVSUHSDULQJDSURMHFW SODQDQGLQLWLDWLQJRWKHUSURFHVVHV ¦LQWHUDFWLRQPDQDJHPHQWPDQDJLQJ LQWHUDFWLRQVGXULQJWKHSURMHFW ¦FKDQJHDQGFRQILJXUDWLRQPDQDJHPHQW DQWLFLSDWLQJFKDQJHDQGPDQDJLQJLWDFURVVDOO SURFHVVHV ¦FORVXUHFORVLQJSURFHVVHVDQGREWDLQLQJ IHHGEDFN 3URMHFWLQLWLDWLRQDQGSURMHFWSODQ GHYHORSPHQW $SURMHFWSODQLQFOXGLQJDTXDOLW\SODQVKRXOG DOZD\VEHSUHSDUHGDQGNHSWXSWRGDWH7KHGHJUHH RIGHWDLOLQFOXGHGZLOOEHDIXQFWLRQRIWKHVL]HDQG FRPSOH[LW\RIWKHSURMHFW 7KHSURMHFWSODQVKRXOGUHIHUWRWKHGRFXPHQWHG FXVWRPHUDQGRWKHUUHOHYDQWVWDNHKROGHU UHTXLUHPHQWVDQGWKHSURMHFWREMHFWLYHV7KHLQSXW VRXUFHIRUHDFKUHTXLUHPHQWVKRXOGDOVREH GRFXPHQWHGWRDOORZWUDFHDELOLW\ 7KHSURGXFWFKDUDFWHULVWLFVDQGKRZWKH\VKRXOGEH PHDVXUHGDQGDVVHVVHGVKRXOGEHLGHQWLILHGDQG LQFOXGHGLQWKHSURMHFWSODQ &RQWUDFWUHYLHZVVKRXOGEHSHUIRUPHGLIWKHSXUSRVH RIDSURMHFWLVWRIXOILOWKHUHTXLUHPHQWVRIDFRQWUDFW 'XULQJSURMHFWLQLWLDWLRQSURMHFWVWKDWDUHWKHPRVW VLPLODUDPRQJWKRVHDOUHDG\XQGHUWDNHQE\WKH RULJLQDWLQJRUJDQL]DWLRQVKRXOGEHLGHQWLILHGLQ RUGHUWRPDNHWKHEHVWXVHRIIHHGEDFNIURPSUHYLRXV SURMHFWV 7KHSURMHFWSODQVKRXOGLGHQWLI\DQGGRFXPHQWWKH SURMHFWSURFHVVHVDQGWKHLULQWHQWLRQ 7KHTXDOLW\V\VWHPRIWKHSURMHFWRUJDQL]DWLRQ VKRXOGEHHVWDEOLVKHGDQGLQFOXGHSURYLVLRQIRU IDFLOLWDWLQJDQGSURPRWLQJFRQWLQXDOTXDOLW\ LPSURYHPHQW6LQFHTXDOLW\LVDQLQWHJUDOSDUWRI JRRGSURMHFWPDQDJHPHQWWKHTXDOLW\V\VWHPRIWKH SURMHFWVKRXOGEHDQLQWHJUDOSDUWRIWKHSURMHFW PDQDJHPHQWV\VWHP7KHTXDOLW\V\VWHPVKRXOGEH GRFXPHQWHGLQWKHTXDOLW\SODQ

(13)

%6 ,62 

‹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§UHYLHZV¨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¦OLDLVRQZLWKWKHFXVWRPHUDQGRWKHU VWDNHKROGHUV ¦WKHSURMHFWRUJDQL]DWLRQªVFRQQHFWLRQDQG UHSRUWLQJOLQHVZLWKWKHYDULRXVIXQFWLRQVRIWKH RULJLQDWLQJRUJDQL]DWLRQ ¦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

(14)

%6 ,62 

 ‹%6, 7KHFORVXUHRIWKHSURMHFWVKRXOGEHIRUPDOO\ FRPPXQLFDWHGWRUHOHYDQWVWDNHKROGHUV 6FRSHUHODWHGSURFHVVHV )RUWKHSXUSRVHVRIWKLV,QWHUQDWLRQDO6WDQGDUG §VFRSH¨LQFOXGHVDGHVFULSWLRQRIWKHSURMHFWSURGXFW LWVFKDUDFWHULVWLFVDQGKRZWKH\DUHWREHPHDVXUHG RUDVVHVVHG 7KHVHSURFHVVHVDLPWR ¦WUDQVODWHWKHFXVWRPHUDQGRWKHUVWDNHKROGHU UHTXLUHPHQWVLQWRDFWLYLWLHVWREHFDUULHGRXWWR DFKLHYHWKHREMHFWLYHVRIWKHSURMHFWDQGWR RUJDQL]HWKHVHDFWLYLWLHV ¦HQVXUHWKDWSHRSOHZRUNZLWKLQWKHVFRSH GXULQJWKHUHDOL]DWLRQRIWKHDFWLYLWLHV ¦HQVXUHWKDWWKHDFWLYLWLHVFDUULHGRXWLQWKH SURMHFWPHHWWKHUHTXLUHPHQWVGHVFULEHGLQWKH VFRSH 7KHVFRSHUHODWHGSURFHVVHVDUHWKHIROORZLQJ ¦FRQFHSWGHYHORSPHQWGHILQLQJWKHEURDG RXWOLQHVRIZKDWWKHSURMHFWSURGXFWZLOOGR ¦VFRSHGHYHORSPHQWDQGFRQWUROGRFXPHQWLQJ WKHFKDUDFWHULVWLFVRIWKHSURMHFWSURGXFWLQ PHDVXUDEOHWHUPVDQGFRQWUROOLQJWKHP ¦DFWLYLW\GHILQLWLRQLGHQWLI\LQJDQG GRFXPHQWLQJDFWLYLWLHVDQGVWHSVUHTXLUHGWR DFKLHYHWKHSURMHFWREMHFWLYHV ¦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§DFWLYLWLHV¨§WDVNV¨DQG§ZRUN SDFNDJHV¨DUHXVHGIRUWKHHOHPHQWVRIWKLVVWUXFWXULQJDQGWKH UHVXOWLVXVXDOO\NQRZQDVDZRUNEUHDNGRZQVWUXFWXUH :%6  )RUWKHSXUSRVHVRIWKLV,QWHUQDWLRQDO6WDQGDUGWKHWHUP §DFWLYLW\¨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¦DFWLYLW\GHSHQGHQF\SODQQLQJLGHQWLI\LQJ LQWHUUHODWLRQVKLSVDQGWKHORJLFDOLQWHUDFWLRQV DQGGHSHQGHQFLHVDPRQJSURMHFWDFWLYLWLHV ¦GXUDWLRQHVWLPDWLRQHVWLPDWLQJWKHGXUDWLRQ RIHDFKDFWLYLW\LQFRQQHFWLRQZLWKWKHVSHFLILF FRQGLWLRQVDQGZLWKWKHUHVRXUFHVUHTXLUHG

(15)

%6 ,62 

‹%6,  ¦VFKHGXOHGHYHORSPHQWLQWHUUHODWLQJWKH SURMHFWWLPHREMHFWLYHVDFWLYLW\GHSHQGHQFLHVDQG WKHLUGXUDWLRQVDVWKHIUDPHZRUNIRUGHYHORSLQJ JHQHUDODQGGHWDLOHGVFKHGXOHV ¦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¦FRVWHVWLPDWLRQGHYHORSLQJFRVWHVWLPDWHVIRU WKHSURMHFW

(16)

%6 ,62 

 ‹%6, ¦EXGJHWLQJXVLQJUHVXOWVIURPFRVWHVWLPDWLRQ WRSURGXFHWKHSURMHFWEXGJHW ¦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¦UHVRXUFHSODQQLQJLGHQWLI\LQJHVWLPDWLQJ VFKHGXOLQJDQGDOORFDWLQJUHOHYDQWUHVRXUFHV ¦UHVRXUFHFRQWUROFRPSDULQJDFWXDOXVDJH DJDLQVWUHVRXUFHSODQVDQGWDNLQJDFWLRQLI QHHGHG 127( 7KLVVXEFODXVHDSSOLHVWRWKHTXDQWLWDWLYHDVSHFWVRI SHUVRQQHOPDQDJHPHQWRQO\ZKHQUHJDUGHGDVDUHVRXUFH7KH RWKHUDVSHFWVDUHFRYHUHGLQ EHFDXVHWKHLUPDQDJHPHQW GLIIHUVVLJQLILFDQWO\IURPWKDWRIRWKHUUHVRXUFHV

(17)

%6 ,62 

‹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¦SURMHFWRUJDQL]DWLRQDOVWUXFWXUH GHILQLWLRQGHILQLQJDSURMHFWRUJDQL]DWLRQDO VWUXFWXUHWDLORUHGWRVXLWWKHSURMHFWQHHGV LQFOXGLQJLGHQWLI\LQJUROHVLQWKHSURMHFWDQG GHILQLQJDXWKRULW\DQGUHVSRQVLELOLW\ ¦VWDIIDOORFDWLRQVHOHFWLQJDQGDVVLJQLQJ VXIILFLHQWSHUVRQQHOZLWKDSSURSULDWHFRPSHWHQFH WRVXLWWKHSURMHFWQHHGV ¦WHDPGHYHORSPHQWGHYHORSLQJLQGLYLGXDODQG WHDPVNLOOVDQGDELOLW\WRHQKDQFHSURMHFW SHUIRUPDQFH 127( 7KHTXDQWLWDWLYHDVSHFWVRISHUVRQQHOPDQDJHPHQWDUH FRYHUHGLQ  'HILQLWLRQRISURMHFWRUJDQL]DWLRQDO VWUXFWXUH 7KHSURMHFWRUJDQL]DWLRQDOVWUXFWXUHVKRXOG QRUPDOO\EHHVWDEOLVKHGLQDFFRUGDQFHZLWKWKH SROLF\RIWKHRULJLQDWLQJRUJDQL]DWLRQDQGWKH FRQGLWLRQVSDUWLFXODUWRWKHSURMHFW3UHYLRXVSURMHFW H[SHULHQFHVKRXOGEHXVHGZKHQDYDLODEOHIRUWKH VHOHFWLRQRIWKHPRVWDSSURSULDWHRUJDQL]DWLRQDO VWUXFWXUH 7KHSURMHFWRUJDQL]DWLRQDOVWUXFWXUHVKRXOGEH GHVLJQHGWRHQFRXUDJHHIIHFWLYHFRPPXQLFDWLRQDQG FRRSHUDWLRQEHWZHHQDOOSDUWLFLSDQWVLQWKHSURMHFW 7KHSURMHFWPDQDJHUVKRXOGHQVXUHWKDWWKHSURMHFW RUJDQL]DWLRQDOVWUXFWXUHLVDSSURSULDWHWRWKH SURMHFWVFRSHVL]HRIWKHSURMHFWWHDPORFDO FRQGLWLRQVDQGWKHGLYLVLRQRIDXWKRULW\DQG UHVSRQVLELOLW\ZLWKWKHRULJLQDWLQJRUJDQL]DWLRQ 7KLVGLYLVLRQZLOOGHSHQGRQWKHRULJLQDWLQJ RUJDQL]DWLRQDOVWUXFWXUHVXFKDVDPDWUL[RU IXQFWLRQDOVWUXFWXUH6SHFLDODWWHQWLRQVKRXOGEH JLYHQWRLGHQWLI\LQJDQGHVWDEOLVKLQJWKH LQWHUUHODWLRQVKLSVRIWKHSURMHFWRUJDQL]DWLRQZLWK WKHIROORZLQJ ¦FXVWRPHUDQGRWKHUUHOHYDQWVWDNHKROGHUV ¦UHOHYDQWIXQFWLRQVRIWKHRULJLQDWLQJ RUJDQL]DWLRQVXSSRUWLQJWKHSURMHFWSDUWLFXODUO\ LIVRPHDUHLQFKDUJHRIPRQLWRULQJSURMHFW IXQFWLRQVVXFKDVVFKHGXOHVTXDOLW\DQGFRVWV $VVLJQPHQWVRIDFFRXQWDELOLW\DXWKRULW\DQG UHVSRQVLELOLW\VKRXOGEHGHILQHGDQGMREGHVFULSWLRQV SUHSDUHG

(18)

%6 ,62 

 ‹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¦FRPPXQLFDWLRQSODQQLQJSODQQLQJWKH LQIRUPDWLRQDQGFRPPXQLFDWLRQV\VWHPVRIWKH SURMHFW ¦LQIRUPDWLRQPDQDJHPHQWPDNLQJQHFHVVDU\ LQIRUPDWLRQDYDLODEOHWRSURMHFWRUJDQL]DWLRQ PHPEHUVDQGRWKHUUHOHYDQWVWDNHKROGHUV ¦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

(19)

%6 ,62 

‹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¦ULVNLGHQWLILFDWLRQGHWHUPLQLQJULVNVLQWKH SURMHFW ¦ULVNDVVHVVPHQWHYDOXDWLQJWKHSUREDELOLW\RI RFFXUUHQFHRIULVNHYHQWVDQGWKHLPSDFWRIULVN HYHQWVRQWKHSURMHFW ¦ULVNUHVSRQVHGHYHORSPHQWGHYHORSLQJSODQV IRUUHVSRQGLQJWRULVNV ¦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ªVULVNVLWXDWLRQVKRXOGEHPRQLWRUHGDQG UHSRUWVRQULVNVVKRXOGEHSDUWRISURJUHVV HYDOXDWLRQV

(20)

%6 ,62 

 ‹%6, 3XUFKDVLQJUHODWHGSURFHVVHV 7KHVHSURFHVVHVGHDOZLWKWKHSXUFKDVHDFTXLVLWLRQ RUSURFXUHPHQWRISURGXFWVREWDLQHGIRUWKHSURMHFW 7KHSXUFKDVLQJUHODWHGSURFHVVHVDUHWKHIROORZLQJ ¦SXUFKDVLQJSODQQLQJDQGFRQWUROLGHQWLI\LQJ DQGFRQWUROOLQJZKDWLVWREHSXUFKDVHGDQG ZKHQ ¦UHTXLUHPHQWVGRFXPHQWDWLRQFRPSLOLQJ FRPPHUFLDOFRQGLWLRQVDQGWHFKQLFDO UHTXLUHPHQWV ¦VXEFRQWUDFWRUHYDOXDWLRQHYDOXDWLQJDQG GHWHUPLQLQJZKLFKVXEFRQWUDFWRUVVKRXOGEH LQYLWHGWRWHQGHU ¦VXEFRQWUDFWLQJLVVXLQJLQYLWDWLRQVWRWHQGHU WHQGHUHYDOXDWLRQQHJRWLDWLRQSUHSDUDWLRQDQG SODFLQJRIWKHVXEFRQWUDFW ¦FRQWUDFWFRQWUROHQVXULQJWKDWVXEFRQWUDFWRUVª SHUIRUPDQFHPHHWVFRQWUDFWXDOUHTXLUHPHQWV 127( $VQRWHGLQ,62 WKHWHUP§SURGXFW¨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§LQKRXVH¨SURGXFWVZRXOGEHREWDLQHGXVLQJ LQWHUQDODFTXLVLWLRQSURFHGXUHVDQGFRQWUROV)RU §LQKRXVH¨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ª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ªTXDOLW\SROLF\DQGTXDOLW\V\VWHPLI QHFHVVDU\ ,QWHQGHUHYDOXDWLRQDOOGHYLDWLRQVIURPWKH UHTXLUHPHQWVLQDVXEFRQWUDFWRUª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

(21)

%6 ,62 

‹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

/HDUQLQJIURPWKHSURMHFW

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

(22)

%6 ,62 

 ‹%6,

7DEOH¦'HVFULSWLRQRISURMHFWPDQDJHPHQWSURFHVVHV LQIRUPDWLYH

352&(66 '(6&5,37,21 &ODXVH

675$7(*,&352&(66

6WUDWHJLFSURFHVV 6HWWLQJWKHGLUHFWLRQIRUWKHSURMHFWDQGPDQDJLQJ

UHDOL]DWLRQRIWKHRWKHUSURMHFWSURFHVVHV 

,17(5'(3(1'(1&<0$1$*(0(17352&(66(6 3URMHFWLQLWLDWLRQDQGSURMHFWSODQ

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

(23)

%6 ,62 

‹%6, 

7DEOH¦'HVFULSWLRQRISURMHFWPDQDJHPHQWSURFHVVHV LQIRUPDWLYH

352&(66 '(6&5,37,21 &ODXVH

3(56211(/5(/$7('352&(66(6 2UJDQL]DWLRQDOVWUXFWXUH

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ªSHUIRUPDQFHPHHWV FRQWUDFWXDOUHTXLUHPHQWV 

(24)

%6 ,62 

 ‹%6,

$QQH[$ LQIRUPDWLYH 

4XDOLW\SUDFWLFHVLQSURMHFW

PDQDJHPHQW¦5HIHUHQFHVWRWKH

,62 IDPLO\RIVWDQGDUGV

7KLVDQQH[SUHVHQWVTXDOLW\SUDFWLFHVWKDWDUH DSSOLFDEOHWRPDQ\SURMHFWSURFHVVHV,WLQGLFDWHV ZKHUHIXUWKHULQIRUPDWLRQFDQEHIRXQGLQWKH ,62 IDPLO\RIVWDQGDUGV6RPHRIWKHVH SUDFWLFHVKDYHDOVREHHQFRYHUHGLQFODXVH  $SSURYDOV5HTXLUHPHQWVIRUDSSURYDOVVKRXOGEH HVWDEOLVKHGDQGWKHDSSURYDOVGRFXPHQWHG UHIHUWR ,62,(&*XLGH  &RUUHFWLYHDFWLRQ&RUUHFWLYHDFWLRQVKRXOGEH FDUULHGRXWZKHQHYHUDSSURSULDWHZLWKUHJDUGWRWKH FKDQJHPDQDJHPHQWSURFHVV)XUWKHUJXLGDQFHLV JLYHQLQFODXVH RI,62 7KH GHILQLWLRQRI§FRUUHFWLYHDFWLRQ¨LVJLYHQLQ VXEFODXVH RI,62  'RFXPHQWDWLRQ'RFXPHQWDWLRQLQFOXGHV VSHFLILFDWLRQVTXDOLW\V\VWHPGRFXPHQWVDQG UHFRUGV3ODQQHGDQGDFWXDOLQSXWVDQGRXWSXWVRI SURFHVVHVVKRXOGEHGRFXPHQWHG)XUWKHUJXLGDQFH RQGRFXPHQWDWLRQLVJLYHQLQ,62  FODXVH  UHFRUGV DQGVXEFODXVH  TXDOLW\ V\VWHPGRFXPHQWDWLRQ 7KHGHILQLWLRQRI §VSHFLILFDWLRQ¨LVJLYHQLQVXEFODXVH RI ,62  ,QVSHFWLRQ7KHGHILQLWLRQRI§LQVSHFWLRQ¨LVJLYHQ LQVXEFODXVH RI,62  3UHYHQWLYHDFWLRQ3UHYHQWLYHDFWLRQVKRXOGEH FDUULHGRXWWKURXJKRXWWKHSURMHFW7KHGHILQLWLRQRI §SUHYHQWLYHDFWLRQ¨LVJLYHQLQVXEFODXVH RI ,62  3URFHVVFRQWURO3URFHVVFRQWUROVKRXOGEHFDUULHG RXWWKURXJKRXWWKHSURMHFW)XUWKHUJXLGDQFHRQ SURFHVVFRQWUROLVJLYHQLQFODXVH RI ,62  4XDOLW\DVVXUDQFH7KHGHILQLWLRQRI§TXDOLW\ DVVXUDQFH¨LVJLYHQLQVXEFODXVH RI ,62  4XDOLW\DXGLWV4XDOLW\DXGLWVFDQEHFDUULHGRXW IRUERWKLQWHUQDODQGH[WHUQDOSXUSRVHV7KH\PD\ EHDSSOLHGWRDOOSURMHFWSURFHVVHV)XUWKHUJXLGDQFH LVJLYHQLQVXEFODXVH RI,62 LQ VXEFODXVHV DQG RI,62 DQG ,62 7KHGHILQLWLRQRI§TXDOLW\DXGLW¨LVJLYHQ LQVXEFODXVH RI,62  4XDOLW\LPSURYHPHQW4XDOLW\LPSURYHPHQW VKRXOGEHFDUULHGRXWWKURXJKRXWWKHSURMHFW )XUWKHUJXLGDQFHLVJLYHQLQ RI,62  DQG,62  4XDOLW\SODQQLQJ7KHGHILQLWLRQRI§TXDOLW\ SODQQLQJ¨LVJLYHQLQ RI,62  4XDOLW\V\VWHP7KHGHILQLWLRQRI§TXDOLW\V\VWHP¨ LVJLYHQLQVXEFODXVH RI,62  5HYLHZV6XEMHFWVRIUHYLHZVVKRXOGLQFOXGHLQSXWV DQGRXWSXWVRISURMHFWSURFHVVHVLQFOXGLQJ GRFXPHQWV7KHW\SHVRIUHYLHZVGHILQHGLQ ,62 DUH§PDQDJHPHQWUHYLHZ¨   §FRQWUDFWUHYLHZ¨  DQG§GHVLJQUHYLHZ¨   6SHFLILFDWLRQDQGGHVLJQ*XLGDQFHLVJLYHQLQ FODXVH RI,62  7UDFHDELOLW\7KHGHILQLWLRQRI§WUDFHDELOLW\¨LV JLYHQLQVXEFODXVH RI,62  7UDLQLQJ*XLGDQFHLVJLYHQLQVXEFODXVH RI ,62 DQGVXEFODXVH RI ,62  9DOLGDWLRQRIWRROVDQGWHFKQLTXHV7KH PHWKRGVWRROVWHFKQLTXHVDQGVRIWZDUHXVHG VKRXOGEHDSSURSULDWHWRWKHSURMHFWDQGYDOLG7KH GHILQLWLRQRI§YDOLGDWLRQ¨LVJLYHQLQVXEFODXVH  RI,62  9HULILFDWLRQ2XWSXWVRISURMHFWSURFHVVHVVKRXOG EHYHULILHG7KHGHILQLWLRQRI§YHULILFDWLRQ¨LVJLYHQ LQVXEFODXVH RI,62 )XUWKHU JXLGDQFHRQSURGXFWYHULILFDWLRQLVJLYHQLQ FODXVH RI,62 

$QQH[% LQIRUPDWLYH 

8VHRISURJUHVVHYDOXDWLRQVIRUTXDOLW\

%*HQHUDO 7KLVDQQH[LOOXVWUDWHVKRZSURJUHVVHYDOXDWLRQV PD\EHXVHGIRUTXDOLW\SXUSRVHV§3URJUHVV HYDOXDWLRQ¨LVGHILQHGLQVXEFODXVH  3URJUHVVHYDOXDWLRQVSURYLGHDQRSSRUWXQLW\IRU FRQVLGHULQJTXDOLW\VLQFHWKH\ORRNDFURVVSURFHVVHV 3URJUHVVHYDOXDWLRQVVKRXOGEHXVHGWRDVVHVVWKH DGHTXDF\RIWKHTXDOLW\SODQDQGKRZWKHZRUN SHUIRUPHGFRPSOLHVZLWKLW7KH\VKRXOGHYDOXDWH KRZZHOOWKHSURMHFWSURFHVVHVDUHV\QFKURQL]HGDQG LQWHUOLQNHG7KH\VKRXOGDOVRLGHQWLI\DQGHYDOXDWH DFWLYLWLHVDQGUHVXOWVWKDWZRXOGDGYHUVHO\DIIHFWWKH DFKLHYHPHQWRISURMHFWREMHFWLYHV7KH\VKRXOGEH XVHGWRREWDLQLQSXWVIRUUHPDLQLQJZRUNLQWKH SURMHFWDQGWRIDFLOLWDWHFRPPXQLFDWLRQ7KH\ VKRXOGEHXVHGWRGULYHSURFHVVLPSURYHPHQWLQWKH SURMHFWE\LGHQWLI\LQJGHYLDWLRQVDQGFKDQJHVLQ ULVNV 3URJUHVVHYDOXDWLRQVVKRXOGEHXVHGWRSURYLGH LQIRUPDWLRQWRWKHFRQWLQXDOLPSURYHPHQWSURJUDP RIWKHRULJLQDWLQJRUJDQL]DWLRQ %,PSOHPHQWDWLRQ 5HVSRQVLELOLW\IRUPDQDJLQJSURJUHVVHYDOXDWLRQV VKRXOGEHDVVLJQHG3URJUHVVHYDOXDWLRQVVKRXOG LQYROYHWKHLQGLYLGXDOVUHVSRQVLEOHIRUWKHSURMHFW SURFHVVHVDQGPD\DOVRLQYROYHRWKHUVWDNHKROGHUV

(25)

%6 ,62 

‹%6,  7KHSXUSRVHRIHDFKVFKHGXOHGSURJUHVVHYDOXDWLRQ VKRXOGEHGHWHUPLQHGLQFOXGLQJZKLFKSURFHVVHV DUHWREHDVVHVVHGDQGWKHRXWSXWVUHTXLUHGWR HQVXUHWKDWWKHDSSURSULDWHSHUVRQQHODQG LQIRUPDWLRQDUHDYDLODEOH'XULQJWKHHYDOXDWLRQ WKHRXWSXWVVKRXOGEHDVVHVVHGDJDLQVWSUHGHILQHG FULWHULDIRUDFFHSWDEOHSHUIRUPDQFHDQG UHVSRQVLELOLW\DVVLJQHGIRUDFWLRQVUHTXLUHG 7KHSURFHVVHVWREHDVVHVVHGDVVHVVPHQWFULWHULD DQGUHVSRQVLELOLWLHVIRUHDFKSURJUHVVHYDOXDWLRQ VKRXOGEHLQFOXGHGLQWKHSURMHFWSODQLQVXIILFLHQW WLPHWRDOORZIRUWKHPHDVXUHPHQWDQGDVVHVVPHQW

$QQH[& LQIRUPDWLYH 

%LEOLRJUDSK\

>@,624XDOLW\PDQDJHPHQWDQG TXDOLW\DVVXUDQFHVWDQGDUGV¦3DUW*XLGHOLQHV IRUVHOHFWLRQDQGXVH >@,624XDOLW\PDQDJHPHQWDQG TXDOLW\DVVXUDQFHVWDQGDUGV¦3DUW*XLGHWR GHSHQGDELOLW\SURJUDPPHPDQDJHPHQW >@,62 4XDOLW\V\VWHPV¦0RGHOIRU TXDOLW\DVVXUDQFHLQGHVLJQGHYHORSPHQW SURGXFWLRQLQVWDOODWLRQDQGVHUYLFLQJ >@,62 4XDOLW\PDQDJHPHQWDQG TXDOLW\V\VWHPHOHPHQWV¦3DUW*XLGHOLQHVIRU VHUYLFHV >@,62 4XDOLW\PDQDJHPHQWDQG TXDOLW\V\VWHPHOHPHQWV¦3DUW*XLGHOLQHVIRU TXDOLW\LPSURYHPHQW >@,62 4XDOLW\PDQDJHPHQW¦ *XLGHOLQHVIRUTXDOLW\SODQV >@,62 *XLGHOLQHVIRUFRQILJXUDWLRQ PDQDJHPHQW >@,62 *XLGHOLQHVIRUDXGLWLQJTXDOLW\ V\VWHPV >@,62 *XLGHOLQHVIRUGHYHORSLQJ TXDOLW\PDQXDOV >@,62¦ *XLGHOLQHVIRUPDQDJLQJWKH HFRQRPLFVRITXDOLW\ >@,62,(&,QIRUPDWLRQWHFKQRORJ\¦ 6RIWZDUHOLIHF\FOHSURFHVVHV >@,62,(&*XLGH6WDQGDUGL]DWLRQDQG UHODWHGDFWLYLWLHV¦*HQHUDOYRFDEXODU\ >@,(&'HSHQGDELOLW\ PDQDJHPHQW ¦3DUW$SSOLFDWLRQJXLGH¦ 6HFWLRQ/LIHF\FOHFRVWLQJ >@,(&'HSHQGDELOLW\ PDQDJHPHQW ¦3DUW$SSOLFDWLRQJXLGH¦ 6HFWLRQ5LVNDQDO\VLVRIWHFKQRORJLFDOV\VWHPV  7REHSXEOLVKHG

(26)

BSI

389 Chiswick High Road London W4 4AL | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

BSI Ð British Standards Institution

BSI is the independent national body responsible for preparing British Standards. It presents the UK view on standards in Europe and at the international level. It is incorporated by Royal Charter.

Revisions

British Standards are updated by amendment or revision. Users of British Standards should make sure that they possess the latest amendments or editions.

It is the constant aim of BSI to improve the quality of our products and services. We would be grateful if anyone finding an inaccuracy or ambiguity while using this British Standard would inform the Secretary of the technical committee responsible, the identity of which can be found on the inside front cover. Tel: 020 8996 9000. Fax: 020 8996 7400.

BSI offers members an individual updating service called PLUS which ensures that subscribers automatically receive the latest editions of standards.

Buying standards

Orders for all BSI, international and foreign standards publications should be addressed to Customer Services. Tel: 020 8996 9001. Fax: 020 8996 7001.

In response to orders for international standards, it is BSI policy to supply the BSI implementation of those that have been published as British Standards, unless otherwise requested.

Information on standards

BSI provides a wide range of information on national, European and international standards through its Library and its Technical Help to Exporters Service. Various BSI electronic information services are also available which give details on all its products and services. Contact the Information Centre. Tel: 020 8996 7111. Fax: 020 8996 7048.

Subscribing members of BSI are kept up to date with standards developments and receive substantial discounts on the purchase price of standards. For details of these and other benefits contact Membership Administration. Tel: 020 8996 7002. Fax: 020 8996 7001.

Copyright

Copyright subsists in all BSI publications. BSI also holds the copyright, in the UK, of the publications of the international standardization bodies. Except as permitted under the Copyright, Designs and Patents Act 1988 no extract may be reproduced, stored in a retrieval system or transmitted in any form or by any means ± electronic, photocopying, recording or otherwise ± without prior written permission from BSI. This does not preclude the free use, in the course of implementing the standard, of necessary details such as symbols, and size, type or grade designations. If these details are to be used for any other purpose than implementation then the prior written permission of BSI must be obtained.

If permission is granted, the terms may include royalty payments or a licensing agreement. Details and advice can be obtained from the Copyright Manager. Tel: 020 8996 7070.

References

Related documents

The International Sanitary Regulations were revised several times to update the list of notifiable diseases and re-named International Health Regulations (IHR) in

On the other hand, community care, which was mostly provided by the social service sector, socially disadvantaged elders requiring only light care were being provided with

With- out weight compression and using 16-bit parameters, the DRNN achieved an effective throughput of 1.2 TOp/s and MAC computa- tion efficiency of 623.96% with negligible

as they try to complete their program and develop a sense of what the education system can provide them. This section has used elements of pastoral power to make sense of the

Melinda Levin, president of the University Film and Video Association, an academic organization of more than 100 film schools including NYU and the University of Southern

Each student accumulates the newly established “ International Academic Credits” (IACs) as he/ she did so far with traditional credits or ECTS for instance,

This study yielded 14 NT-EPAs and 52 required types of knowledge, skills and attitudes (KSAs) that nurses should possess when executing telehealth activities. Nurses can use

In another study done by the Canada-United States-Ontario-Michigan Border Transportation Partnership Planning on the Regional and National Economic Impact of Increasing Delay and