Answer:-An executive summary, is a short document, generated for business purposes, that outlines a longer report or a group of associated reports in such a way that readers can quickly become understand with a colossal body of material without having to read it all. It mostly contains a detailed statement of the problem or proposal included in the major documents, background information, brief analysis and main results. It is intended as an assist to decision making by managers and it has been described as an essentional part of a business plan.
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The executive summary frequently contains brief statements describing that what will be more detailed in the coming proposal. In an average proposal, the executive summary only recommends short information in a rote manner. But an outstanding executive summary presents a roundup of the entire proposal in a way which captivates the client and works to SELL. An executive summary is a document in miniature that may be read in place of the longer document. An executive summary is different from an abstract summary because, an abstract will usually be shorter and is typically intended as an overview rather than being a condensed version of the full document.
Abstracts are extensively used in academic research where the executive summary is not in common usage. Project executive summaries are extremely important, because they help top management to find both relevant information as well as employee attainments rapidly. Since each business project is incomparable project executive summaries also gravitate to be somewhat unequaled every time. However like every other thing in life, there are good rules to loco mote while analyzing project executive summaries. And the things the management needs to check is whether a project executive summary addresses the interests of the stakeholders through its essential five parts,
In this column we concisely go over the five most important parts of a project executive summary, and they may have different titles associated with them in different documents, and may expand to many more parts these remain the essential narrations without which an executive summary would fail to do its job.
Project focus: -This is the first part of any executive summary and it represents the problems that were sought to be addressed through the project. This part also summarizes the business needs that caused the problems the project addressed, for example, these might be needs like increasing sales, opening a new office, expanding market presence, decreasing cunctation among employees, error reduction, restructuring and any other particular business needs determined where the project deliberated to bring about or effect change. This part of an executive summary should not only determine the business needs, but also afford justification for spending resources to address those needs. As a rule, managers try to make this section the most attractive, because otherwise stakeholders would lose interest in reading the rest.
Project Goals:- The next part of a project executive summary commonly relates itself in listing the goals of the project. While the former part lays down the business needs like, opening a new office, this part mentions the critical goals like, renting office, hiring local staff, completing rental agreement, securing finance, and etcetera.
Summary of the executive summary:- The executive summary by itself can become a redoubtable document for many and especially for those who have little time. Hence it is compulsory to involve a summary of the document, once the business needs and project goals have been identified. Experience shows that most top management read the business needs or project focus part and then omit directly to the summary part of the document. If they either like what they see, or are concerned by what they see – they continue. This is why a great deal of attentiveness needs to be given to this section of an executive summary, and in quintessence it should tell the story of how the work was done and goals and productions accomplished. The summary can also include an impact analysis of the project for good measure.
Key Findings of the Project:- The summary is usually followed by the key findings of a project, and the purpose of this section is to make the management conscious at a glint of the key points of value uncovered during project execution. Findings contain what the project team learned including both of opportunities and difficulty as essential for business while doing the project.
Deliverables:- This section identifies the results of the project and what has been combined to the inventory in knowledge and imputable materials. Deliverables can include documents like process overview, elaborated documents, charts, graphs, checklists, implementation plans, training plans, guidelines for future projects and etc. Sometimes, if the number of crucial documents needed to prove professes made in the executive summary or required to highlight are large in number, then it is the custom to create an appendix and attach such documents there. A properly created executive summary is really important for understanding business processes and recycling knowledge. It is also essential for rapidly highlighting business and employee performance.
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