C. Myblog

What is the Objective?

October 30, 2014

Before any project within a credit union is launched, the project manager and project team should construct an appropriate objective statement for the finished project. The objective statement should clearly give anyone who reads it a precise idea of what the project will achieve once implemented.

An objective statement should be SMART:

  • Specific
  • Measurable
  • Attainable
  • Realistic
  • Time-bound

The statement should be written so that it can easily be understood by all stakeholders and easily evaluated at the end of the project. If appropriate, it is helpful to include how the project fits into organizational strategy in order to keep everyone focused on the strategic purpose of the project.

An example objective statement for a project to implement an online account opening system could be:

  • By August 15, 2015, 75% of all applicants applying for membership online will become a member in less than 15 minutes. This supports our strategic initiative to make it easy for our members to do business with us electronically

An example objective statement for a project to implement a new loan origination system could be:

  • By August 15, 2015, at least 75% of all auto loan applicants with a credit score of X or higher will receive a decision within 15 minutes. This supports our strategic initiative to be a highly lending-focused organization

The beauty of a well-written objective statement is that, no matter the size and scope of the project, the objective statement serves as a rallying cry for all involved to complete the mission successfully. When the team knows what it is fighting for, other decisions related to the project can suddenly become easier to manage – paving the way for a well-executed project.

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