HomeSoftware/BusinessGet to Know the Advantages of TOR!

Get to Know the Advantages of TOR!

Have you ever created a document that contains a complete description of project planning? This document can be an overview of how the project will take place later. So, the results of the project can be in accordance with the targets to be achieved. Many people know this document as Terms of Reference or TOR. Check out this article to find out more about TOR and its advantages!

tor

Table of Contents

TOR Definition

Source: Rawpixel.com

Terms of Reference or familiar with the abbreviation TOR is a document that contains a description of the project planning. In other words, TOR is a document that includes a project framework. This document will explain the background, objectives, and vision of the project.

Also read: Here are The 17 Best ERP Software in Singapore You Should Know in 2021

TOR Component

As a document for proposing a project, terms of reference consist of several components. Here are the components of TOR:

  1. Background history
  2. Purpose
  3. Method
  4. Schedule
  5. Product
  6. Evaluation team
  7. Budget and logistics

TOR Advantages

The company will get various advantages from the compiling of terms of reference. With TOR, company directors can know the activities that their employees carry out. Not only knowing the activity, but the company directors can also control the activity. Compiling terms of reference will also be a medium to arrange the project budget. No less important, TOR is a medium for information about project activities, including the preparation process and the final work result.

Steps of Compiling TOR

After knowing the advantages of compiling terms of reference documents, you are surely wondering how to make the right TOR. Compiling the right TOR will certainly make the work progress easier. Here are the steps of compiling terms of reference:

Make project background

In this case, the project background can explain the history of the proposed project. Several important components must be listed on this document, such as the company stakeholder’s role in the project to a brief of the proposed project.

Determine the project goals

Every project has a goal to achieve. This goal should be listed in terms of reference. In this case, this goal is an achievement that is expected after the project has been completed. 

Determine the methods

When the project is in progress, the company uses various methods to achieve the expected target. Therefore, in terms of reference, it is necessary to explain the used methods on the project. The explanation of the used methods should involve the main phase of project implementation, project duration, to tools in gathering the necessary information.

Highlight the issues that will be faced in the project

A project will often face various issues or problems. This will hinder the project progress that leads to failure. For that, in terms of reference, you need to explain all issues or problems that can occur during the project.

Identify expertise

Experts and a reliable team support the project’s success. In terms of reference, it is important to explain the expertise that is needed to be involved in the project. The expertise that must be identified includes abilities required in the project to the staff tasks and responsibilities description. Speaking of staff skills and abilities, nowadays you can assess staff performance easily and computerized with the competency management software

Compile reporting

By compile reporting, the company will be able to know information about the project progress. The existence of reporting can be a medium of consideration for companies to make decisions. Reporting, in this case, includes the project progress from the beginning to the project final result.

Create a work planning

Work planning is a strategy that will be use during the project. With creating work planning, the company and the involved staff can decide to start the project progress. Work planning can be a guideline when the project is in progress. A work plan should contain important things such as problem analysis in terms of evaluation criteria, proposed implementation methods, and the project budget. You also can use accounting system to manage project budget efficiently.

Also read: 5 Main Benefits of ERP Software for Professional Services

Conclusion

Compiling a Terms of Reference or TOR document in proposing a project becomes essential. With this document, the company will know the overview of the proposed project so that the project results can follow the target. Not only that, this document can be a medium in calculating the project budget. For your project to run smoothly as you have planned in TOR, you need a system. You need this system because it can provide a seamless communication platform that helps you distribute tasks effectively and complete the project on time.

The best system for managing your project is Project Management Software from HashMicro. This software will provide many benefits, such as precise coordination, efficient teamwork, ease of use, and controlled budget. With the help of this system, you can easily create TOR and execute projects smoothly. Therefore, you can use HashMicro software to optimize your activity projects to match the TOR you have created before. Currently, many companies have trusted HashMicro to improve their operational efficiency. Click here to optimize your company operations now!

Interest in getting savvy tips for improving your business efficiency?

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Looking for software system to improve your business efficiency?

Get a free consultation with our business expert by filling in this form!

Rachel-Panjaitan

Rachel Panjaitan
Typically replies within an hour

Rachel Panjaitan
Looking for a Free Demo?

Contact us via WhatsApp and let us know the software you are looking for.

Claim up to 80% Productivity Solution Grant for various HashMicro Software!
1:40
+6587776207
×
Book a Demo by WhatsApp