Bharat Darsi(gy2876) AMETEK INC

INTRODUCTION

AMETEK, Inc. is an American global manufacturer of electronic instruments and electromechanical

devices with a headquarters in the United States and over 220 manufacturing sites worldwide.

 The company was founded in 1930.

 The company's headquarters are in Berwyn, Pennsylvania.
 The company's original name, American Machine and Metals, was changed to AMETEK in the
early 1960s, reflecting AME's evolution from a provider of heavy machinery to a manufacturer of
analytical instruments, precision components and specialty materials
 Global manufacturer of high-technology products
 Serve a diverse set of niche markets and applications
 Decentralized operating structure with ~18,000 colleagues
 Annualized sales over $5.0 billion with approximately 50% of sales outside U.S.
 Clear vision and sound strategy built on core values
 Long track record of creating shareholder value by executing the AMETEK Growth Model
 Outstanding cash flow generation and proven ability to deploy capital on value enhancing
acquisitions
 Experienced management team

Mission Statement

“Solving our customers’ most complex challenges with differentiated technology solutions”

Vision

Deliver double digit sales and earnings per share growth over the business cycle resulting in a superior
return on capital for shareholders.

Strategy

Through the implementation of the AMETEK Growth Model, profitably grow and globally expand our
market leading businesses across a diverse set of niche market segments.

The AMETEK Growth Model combines its four growth strategies of

 Operational Excellence,
 Strategic Acquisitions,
 Global & Market Expansion, and
 New Product Development, with a disciplined focus on cash generation and capital deployment

Core Values

Ethical business practices, Respect for the individual, Diversity, Teamwork and Social Responsibility

The firm has two operating groups

 The Electronic Instruments Group and

A worldwide leader in the design and manufacture of advanced analytical, test and measurement
instrumentation, and mission critical communication solutions.
  The Electromechanical Group

A differentiated supplier of automation and precision motion control solutions, as well as highly
engineered electrical interconnects, specialty metals, and thermal management.

Board of Directors currently consists of eight members.

They are Thomas A. Amato, Ruby R. Chandy, Anthony J. Conti, Steven W. Kohlhagen, Gretchen W.
McClain, Elizabeth R. Varet, Dennis K. Williams, and David A. Zapico.

Custom Supply chain Management

AMETEK provides creative supply chain solutions and streamlined supply management to meet the most
challenging requirements. Our Supply Chain Management team works to develop optimal material plans
and sourcing strategies with flexibility to meet the customer’s specific needs and address challenges with
an innovative approach.
AMETEK supplied data, source inspection and dock-to-stock programs relieve the customer’s burden of
receiving inspection and delivers data ahead of shipments for streamlining the customers receiving
process.
Material Kanban stocking programs shorten lead times and ensure material availability to facilitate quick
response times.
AMETEK’s global sourcing footprint ensures efficient sourcing, manufacturing and distribution functions.
Quality Policy
AMETEK EMC’s Harmonized Quality Policy for all facilities and their employees are responsible for:
A. Delivering defect free products and services on time.
B. Meeting or exceeding all customer requirements and expectations.
C. The continued suitability and effectiveness of the Quality System.
Business Planning

Approximately 50% of AMETEK sales come from outside the U.S.

Continued sales and service investment in key growth regions AMETEK Europe and Asia teams facilitate
international sales growth

Focus on expanding into niche, adjacent market segments Growth Kaizen process driving attractive
expansion opportunities

Collaborative Design

AMETEK bridges the technology-solution gap that often exists between big ideas and successfully
manufactured products.
AMETEK team of industry experts work side by side with our customer’s teams to develop optimal
solutions for diverse medical device challenges. Our customers tap into our expertise and leverage our
knowledge and capabilities to develop the right solution for their requirements. The value we provide
delivers assurance throughout the journey from ideation to realization. AMETEK EMC creates an
immersive experience through collaboration in:
Design Inputs and Outputs Development
Concept design and development
Prototyping and Testing
 Design for Manufacturability
Material Selection, Analysis, and Qualification
Process and Equipment Design
Product Development Activities and Planning
Validation Planning and Execution
Commercialization Planning and Scaling
Precision Engineering
AMETEK offers technical expertise and precision engineering to support customers in the
development and manufacture of the most demanding applications.
Understanding what our customers need is key in the process of engineering the right solution to fill
that need. Our team of experts collaborate with customers to develop and define requirements to
establish the desired target for a solution. We leverage our expertise in a wide range of technologies
including: laser processing, fine wire twisting and cabling, termination, high-speed automation,
machine vision, insert moulding, liquid silicone moulding, potting, gluing, custom interconnects and
cable assembly, catheter components and systems, implanted lead components, ultrasound
assemblies, precision laser machining services and more to map from requirements to solution
output.
 Let us design and fine tune a custom interconnect to pair with your custom device. Our
Engineering teams have the expertise to design a purpose-built assembly down to each
component necessary to meet the device’s requirements.
 Not sure what material to use or how to design something with a specific material in mind?
We can optimize the design for materials and can help you understand specific properties,
geometrical, and manufacturability challenges to help make the right decision for your product.
 Tight tolerances or restrictive requirements? Our Engineering teams are well versed in
analysis techniques that provide a high degree of confidence in a design meeting those
requirements.
 Our Engineering and Operations teams are experts in manufacturing. We can customize a
process and scale it to meet specific requirements leveraging our knowledge in a range of
processes from manual operator to fully-automated solutions.
 If you have quality issues with an existing product, our team can help identify root causes
and engineer a solution from minor changes in design or process to a total reimagination of the
component or assembly.

PESTEL ANALYSIS

AMETEK, Inc. PESTEL analysis is a strategic tool to analyse the macro environment of the organization.
PESTEL stands for - Political, Economic, Social, Technological, Environmental & Legal factors that impact
the macro environment of AMETEK, Inc.

Changes in the macro-environment factors can have a direct impact on not only the AMETEK, Inc. but also
can impact other players in the Diversified Machinery. The macro-environment factors can impact
the Porter Five Forces that shape strategy and competitive landscape. They can impact individual firm’s
competitive advantage or overall profitability levels of the Industrial Goods industry.

PESTEL analysis provides detail about operating challenges AMETEK, Inc. will face in prevalent macro
environment other than competitive forces. For example, an Industry may be highly profitable with a
strong growth trajectory, but it won't be any good for AMETEK, Inc. if it is situated in unstable political
 environment.

Spanish oil giant Repsol had to face a similar instance. It started an above average profitability operations
in Argentina and made strong returns in 5-7 years. But the business was later expropriated by the Left-
Wing government. So, the decade long profits didn’t materialize in the end.

Political Factors that Impact AMETEK, Inc.

Political factors play a significant role in determining the factors that can impact AMETEK, Inc.'s long term
profitability in a certain country or market. AMETEK, Inc. is operating in Diversified Machinery in more
than dozen countries and expose itself to different types of political environment and political system
risks. The achieve success in such a dynamic Diversified Machinery industry across various countries is to
diversify the systematic risks of political environment. AMETEK, Inc. can closely analyse the following
factors before entering or investing in a certain market-

 Political stability and importance of Diversified Machinery sector in the country's economy.
 Risk of military invasion
 Level of corruption - especially levels of regulation in Industrial Goods sector.
 Bureaucracy and interference in Diversified Machinery industry by government.
 Legal framework for contract enforcement
 Intellectual property protection
 Trade regulations & tariffs related to Industrial Goods
 Favoured trading partners
 Anti-trust laws related to Diversified Machinery
 Pricing regulations – Are there any pricing regulatory mechanism for Industrial Goods
 Taxation - tax rates and incentives
 Wage legislation - minimum wage and overtime
 Work week regulations in Diversified Machinery
 Mandatory employee benefits
 Industrial safety regulations in the Industrial Goods sector.
 Product labelling and other requirements in Diversified Machinery

Economic Factors that Impact AMETEK, Inc.

The Macro environment factors such as – inflation rate, savings rate, interest rate, foreign exchange rate
and economic cycle determine the aggregate demand and aggregate investment in an economy. While
micro environment factors such as competition norms impact the competitive advantage of the firm.
AMETEK, Inc. can use country’s economic factor such as growth rate, inflation & industry’s economic
indicators such as Diversified Machinery industry growth rate, consumer spending etc to forecast the
growth trajectory of not only --sector name-- sector but also that of the organization. Economic factors
that AMETEK, Inc. should consider while conducting PESTEL analysis are -

 Type of economic system in countries of operation – what type of economic system there is and
how stable it is.
 Government intervention in the free market and related Industrial Goods
 Exchange rates & stability of host country currency.
 Efficiency of financial markets – Does AMETEK, Inc. needs to raise capital in local market?
 Infrastructure quality in Diversified Machinery industry
 Comparative advantages of host country and Industrial Goods sector in the particular country.  
 Skill level of workforce in Diversified Machinery industry.
 Education level in the economy
 Labour costs and productivity in the economy
 Business cycle stage (e.g. prosperity, recession, recovery)
 Economic growth rate
 Discretionary income
 Unemployment rate
 Inflation rate
 Interest rates

Social Factors that Impact AMETEK, Inc.

Society’s culture and way of doing things impact the culture of an organization in an environment. Shared
beliefs and attitudes of the population play a great role in how marketers at AMETEK, Inc. will understand
the customers of a given market and how they design the marketing message for Diversified Machinery
industry consumers. Social factors that leadership of AMETEK, Inc. should analyse for PESTEL analysis are -

 Demographics and skill level of the population

 Class structure, hierarchy and power structure in the society.
 Education level as well as education standard in the AMETEK, Inc. ’s industry
 Culture (gender roles, social conventions etc.)
 Entrepreneurial spirit and broader nature of the society. Some societies encourage
entrepreneurship while some don’t.
 Attitudes (health, environmental consciousness, etc.)
 Leisure interests

Technological Factors that Impact AMETEK, Inc.

Technology is fast disrupting various industries across the board. Transportation industry is a good case to
illustrate this point. Over the last 5 years the industry has been transforming fast, not even giving chance
to the established players to cope with the changes. Taxi industry is now dominated by players like Uber
and Lyft. Car industry is fast moving toward automation led by technology firm such as Google &
manufacturing is disrupted by Tesla, which has stated an electronic car revolution.

A firm should not only do technological analysis of the industry but also the speed at which technology
disrupts that industry. Slow speed will give more time while fast speed of technological disruption may
give a firm little time to cope and be profitable. Technology analysis involves understanding the following
impacts -

 Recent technological developments by AMETEK, Inc. competitors

 Technology's impact on product offering
 Impact on cost structure in Diversified Machinery industry
 Impact on value chain structure in Industrial Goods sector
 Rate of technological diffusion
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Environmental Factors that Impact AMETEK, Inc.

Different markets have different norms or environmental standards which can impact the
profitability of an organization in those markets. Even within a country often states can have
different environmental laws and liability laws. For example, in United States – Texas and Florida
have different liability clauses in case of mishaps or environmental disaster. Similarly, a lot of
 European countries give healthy tax breaks to companies that operate in the renewable sector.

Before entering new markets or starting a new business in existing market the firm should carefully
evaluate the environmental standards that are required to operate in those markets. Some of the
environmental factors that a firm should consider beforehand are -

 Weather
 Climate change
 Laws regulating environment pollution
 Air and water pollution regulations in Diversified Machinery industry
 Recycling
 Waste management in Industrial Goods sector
 Attitudes toward “green” or ecological products
 Endangered species
 Attitudes toward and support for renewable energy

Legal Factors that Impact AMETEK, Inc.

In number of countries, the legal framework and institutions are not robust enough to protect the
intellectual property rights of an organization. A firm should carefully evaluate before entering such
markets as it can lead to theft of organization’s secret sauce thus the overall competitive edge. Some of
the legal factors that AMETEK, Inc. leadership should consider while entering a new market are -

 Anti-trust law in Diversified Machinery industry and overall in the country.

 Discrimination law
 Copyright, patents / Intellectual property law
 Consumer protection and e-commerce
 Employment law
 Health and safety law
 Data Protection
 PORTER FIVE FORCES
"Five Forces that Shape Strategy", Michael Porter observed five forces that have significant impact on a
firm's profitability in its industry. These five forces analysis today in business world is also known as
-Porter Five Forces Analysis. The Porter Five (5) Forces are -

 Threat of New Entrants

 Bargaining Power of Suppliers
 Bargaining Power of Buyers
 Threat from Substitute Products
 Rivalry among the existing players.

Porter Five Forces is a holistic strategy framework that took strategic decision away from just analysing
the present competition. Porter Five Forces focuses on - how AMETEK, Inc. can build a sustainable
competitive advantage in Diversified Machinery industry. Managers at AMETEK, Inc. can not only use
Porter Five Forces to develop a strategic position with in Diversified Machinery industry but also can
explore profitable opportunities in whole Industrial Goods sector.

AMETEK, Inc. Porter Five (5) Forces Analysis for Industrial Goods Industry

Threats of New Entrants

New entrants in Diversified Machinery brings innovation, new ways of doing things and put pressure on
AMETEK, Inc. through lower pricing strategy, reducing costs, and providing new value propositions to the
customers. AMETEK, Inc. must manage all these challenges and build effective barriers to safeguard its
competitive edge.

How AMETEK, Inc. can tackle the Threats of New Entrants

 By innovating new products and services. New products not only bring new customers to the fold
but also give old customer a reason to buy AMETEK, Inc. ‘s products.
 By building economies of scale so that it can lower the fixed cost per unit. 
 Building capacities and spending money on research and development. New entrants are less
likely to enter a dynamic industry where the established players such as AMETEK, Inc. keep defining the
standards regularly. It significantly reduces the window of extraordinary profits for the new firms thus
discourage new players in the industry.

Bargaining Power of Suppliers

All most all the companies in the Diversified Machinery industry buy their raw material from numerous
suppliers. Suppliers in dominant position can decrease the margins AMETEK, Inc. can earn in the market.
Powerful suppliers in Industrial Goods sector use their negotiating power to extract higher prices from the
firms in Diversified Machinery field. The overall impact of higher supplier bargaining power is that it
lowers the overall profitability of Diversified Machinery.

How AMETEK, Inc. can tackle Bargaining Power of the Suppliers

 By building efficient supply chain with multiple suppliers.

 By experimenting with product designs using different materials so that if the prices go up of one
raw material then company can shift to another.
 Developing dedicated suppliers whose business depends upon the firm. One of the lessons
AMETEK, Inc. can learn from Wal-Mart and Nike is how these companies developed third party
manufacturers whose business solely depends on them thus creating a scenario where these third-party
manufacturers have significantly less bargaining power compare to Wal-Mart and Nike.

Bargaining Power of Buyers

Buyers are often a demanding lot. They want to buy the best offerings available by paying the minimum
price as possible. This put pressure on AMETEK, Inc. profitability in the long run. The smaller and more
powerful the customer base is of AMETEK, Inc. the higher the bargaining power of the customers and
higher their ability to seek increasing discounts and offers.

How AMETEK, Inc. can tackle the Bargaining Power of Buyers

 By building a large base of customers. This will be helpful in two ways. It will reduce the
bargaining power of the buyers plus it will provide an opportunity to the firm to streamline its sales and
production process.
 By rapidly innovating new products. Customers often seek discounts and offerings on established
products so if AMETEK, Inc. keep on coming up with new products then it can limit the bargaining power
of buyers.
 New products will also reduce the defection of existing customers of AMETEK, Inc. to its
competitors.

Threats of Substitute Products or Services

When a new product or service meets a similar customer needs in different ways, industry profitability
suffers. For example, services like Dropbox and Google Drive are substitute to storage hardware drives.
The threat of a substitute product or service is high if it offers a value proposition that is uniquely different
from present offerings of the industry.

How AMETEK, Inc. can tackle the Treat of Substitute Products / Services
 By being service oriented rather than just product oriented.
 By understanding the core need of the customer rather than what the customer is buying.
 By increasing the switching cost for the customers.
Rivalry among the Existing Competitors

If the rivalry among the existing players in an industry is intense then it will drive down prices and
decrease the overall profitability of the industry. AMETEK, Inc. operates in a very competitive Diversified
Machinery industry. This competition does take toll on the overall long-term profitability of the
organization.

How AMETEK, Inc. can tackle Intense Rivalry among the Existing Competitors in Diversified Machinery
industry

 By building a sustainable differentiation

 By building scale so that it can compete better
 Collaborating with competitors to increase the market size rather than just competing for small
market.
Implications of Porter Five Forces on AMETEK, Inc.

By analysing all the five competitive forces AMETEK, Inc. strategists can gain a complete picture of what
impacts the profitability of the organization in Diversified Machinery industry. They can identify game
changing trends early on and can swiftly respond to exploit the emerging opportunity. By understanding
the Porter Five Forces in detail AMETEK, Inc. 's managers can shape those forces in their favour.
 SWOT ANALYSIS

SWOT analysis is a strategic planning tool that can be used by Ametek managers to do a situational
analysis of the organization. It is a handy technique to map out the present Strengths (S), Weakness (W),
Opportunities (O) & Threats (T) Ametek is facing in its current business environment.
The Ametek is one of the leading firms in its industry. Ametek maintains its prominent position in
market by critically analysing and reviewing the SWOT analysis.  SWOT analysis a highly interactive
process and requires effective coordination among various departments within the firm such as –
marketing, finance, operations, management information systems and strategic planning

The SWOT Analysis framework helps an organization to identify the internal strategic factors such as
-strengths and weaknesses, & external strategic factors such as - opportunities and threats. It leads to a
2X2 matrix – also called SWOT Matrix.

The Strengths-Weaknesses-Opportunities-Threats (SWOT) Analysis / Matrix enables the managers of

the Ametek to develop four types of strategies:

 SO (strengths-opportunities) Strategies
 WO (weaknesses-opportunities) Strategies
 ST (strengths-threats) Strategies
  WT (weaknesses-threats) Strategies

SWOT Matrix Strategies Objective

The main purpose of SWOT matrix is to identify the strategies that a firm can utilize to exploit external
opportunities, counter threats, and build on & protect Ametek strengths, and eradicate its weaknesses.

Step by Step Guide to Ametek SWOT Analysis

Strengths of Ametek – Internal Strategic Factors

As one of the leading companies in its industry, Ametek has numerous strengths that enable it to thrive in
the market place. These strengths not only help it to protect the market share in existing markets but also
help in penetrating new markets.
 Reliable suppliers – It has a strong base of reliable supplier of raw material thus enabling the
company to overcome any supply chain bottlenecks.
 Automation of activities brought consistency of quality to Ametek products and has enabled the
company to scale up and scale down based on the demand conditions in the market.
 Strong Brand Portfolio – Over the years Ametek has invested in building a strong brand portfolio.
The SWOT analysis of Ametek just underlines this fact. This brand portfolio can be extremely useful if the
organization wants to expand into new product categories.
 Highly skilled workforce through successful training and learning programs. Ametek is investing
huge resources in training and development of its employees resulting in a workforce that is not only
highly skilled but also motivated to achieve more.
 Superb Performance in New Markets – Ametek has built expertise at entering new markets and
making success of them. The expansion has helped the organization to build new revenue stream and
diversify the economic cycle risk in the markets it operates in.
 Highly successful at Go To Market strategies for its products.
 Successful track record of developing new products – product innovation.
 Good Returns on Capital Expenditure – Ametek is relatively successful at execution of new
projects and generated good returns on capital expenditure by building new revenue streams.

Weakness of Ametek – Internal Strategic Factors

Weakness are the areas where Ametek can improve upon. Strategy is about making choices and weakness
are the areas where a firm can improve using SWOT analysis and build on its competitive advantage and
strategic positioning.

 Not very good at product demand forecasting leading to higher rate of missed opportunities
compare to its competitors. One of the reasons why the days inventory is high compare to its competitors
is that Ametek is not very good at demand forecasting thus end up keeping higher inventory both in-
house and in channel.
 Investment in Research and Development is below the fastest growing players in the industry.
Even though Ametek is spending above the industry average on Research and Development, it has not
been able to compete with the leading players in the industry in terms of innovation. It has come across
as a mature firm looking forward to bringing out products based on tested features in the market.
 The profitability ratio and Net Contribution % of Ametek are below the industry average.
 High attrition rate in work force – compare to other organizations in the industry Ametek has a
higher attrition rate and must spend a lot more compare to its competitors on training and development
of its employees.
 Financial planning is not done properly and efficiently. The current asset ratio and liquid asset
ratios suggest that the company can use the cash more efficiently than what it is doing at present.
 Organization structure is only compatible with present business model thus limiting expansion in
adjacent product segments.
 There are gaps in the product range sold by the company. This lack of choice can give a new
competitor a foothold in the market.

Opportunities for Ametek – External Strategic Factors

 New environmental policies – The new opportunities will create a level playing field for all the
players in the industry. It represents a great opportunity for Ametek to drive home its advantage in new
technology and gain market share in the new product category.
 The market development will lead to dilution of competitor’s advantage and enable Ametek to
increase its competitiveness compare to the other competitors.
 Government green drive also opens an opportunity for procurement of Ametek products by the
state as well as federal government contractors.
 New trends in the consumer behaviour can open new market for the Ametek. It provides a great
opportunity for the organization to build new revenue streams and diversify into new product categories
too.
 The new taxation policy can significantly impact the way of doing business and can open new
opportunity for established players such as Ametek to increase its profitability.
 Lower inflation rate – The low inflation rate brings more stability in the market, enable credit at
lower interest rate to the customers of Ametek.
 Economic uptick and increase in customer spending, after years of recession and slow growth rate
in the industry, is an opportunity for Ametek to capture new customers and increase its market share.
 Decreasing cost of transportation because of lower shipping prices can also bring down the cost
of Ametek’s products thus providing an opportunity to the company - either to boost its profitability or
pass on the benefits to the customers to gain market share.

Threats Ametek Facing - External Strategic Factors

 Imitation of the counterfeit and low-quality product is also a threat to Ametek’s product
especially in the emerging markets and low-income markets.
 Intense competition – Stable profitability has increased the number of players in the industry over
last two years which has put downward pressure on not only profitability but also on overall sales.
 Increasing trend toward isolationism in the American economy can lead to similar reaction from
other government thus negatively impacting the international sales.
 Liability laws in different countries are different and Ametek may be exposed to various liability
claims given change in policies in those markets.
 Shortage of skilled workforce in certain global market represents a threat to steady growth of
profits for Ametek   in those markets.
 The company can face lawsuits in various markets given - different laws and continuous
fluctuations regarding product standards in those markets.
 New technologies developed by the competitor or market disruptor could be a serious threat to
the industry in medium to long term future.
 New environment regulations under Paris agreement (2016) could be a threat to certain existing
product categories.

Limitations of SWOT Analysis for Ametek

Although the SWOT analysis is widely used as a strategic planning tool, the analysis does have its share of
limitations.

 Certain capabilities or factors of an organization can be both a strength and weakness at the same
time. This is one of the major limitations of SWOT analysis . For example, changing environmental
regulations can be both a threat to company it can also be an opportunity in a sense that it will enable the
company to be on a level playing field or at advantage to competitors if it able to develop the products
faster than the competitors.
 SWOT does not show how to achieve a competitive advantage, so it must not be an end.
 The matrix is only a starting point for a discussion on how proposed strategies could be
implemented. It provided an evaluation window but not an implementation plan based on strategic
competitiveness of Ametek
 SWOT is a static assessment - analysis of status quo with few prospective changes. As
circumstances, capabilities, threats, and strategies change, the dynamics of a competitive environment
may not be revealed in a single matrix.
 SWOT analysis may lead the firm to overemphasize a single internal or external factor in
formulating strategies. There are interrelationships among the key internal and external factors that
SWOT does not reveal that may be important in devising strategies.
Weighted SWOT Analysis of Ametek

Considering the above-mentioned limitations of the SWOT analysis / matrix, corporate managers
decided to provide weightage to each internal strength and weakness of the firm. Organizations also
assess the likelihood of events taking place in the coming future and how strong their impact could
be on company's performance.

This method is called Weighted SWOT analysis. It is better than doing simplistic SWOT analysis
because with Weighted SWOT Analysis Ametek managers can focus on the most critical factors and
discount the non-important one. It also solves the long list problem where organizations end up
making a long list but none of the factors deemed too critical.

Limitation of Weighted SWOT analysis of Ametek

This approach also suffers from one major drawback - it focuses on individual importance of factor rather
than how they are collectively important and impact the business holistically.

Catch ball

Step 1 Step 3 Step 4

Breakdown Review & Sign Off
Strategy Prioritise Plan Plan Senior Leadership Team

Step 2 Step 4
Refine AO Charter Middle Management
ID IP’s & Initiatives
Metrics

Strategy
Deployment

Step 1

Vision/ Mission/ True North

Breakdown Strategy

3-5 years Breakthrough Objectives

Annual Objectives
Step 2

Refine Annual Objectives

Improvement Priority’s (Projects, Actions, Just Do It, List of initiatives)

Metrics

Step 3

Review & Prioritise Plan

Step 4

Charter Initiatives

Writing Project Scope

Timelines

In/Out Scope

Risk and Issues

Action Planning

Step 5

Review one last time

Sign of Plan