What is a change request? Change Requests are changes to the project scope. A lot of clients see projects going on and on and wonder how do you handle scope creep. The answer is CR's. For example: you are working on your enhancement release and the company wants to start a new initiative to change the report label to ABC One Stop. You are already in the design phase, the new portion is scoped out and we can complete that work in the project timeline. We open a CR to show that change in scope, document the costs and any impact to timeline. This is probably logged in your PPM tool, perhaps on sharepoint or notated in your document repository. As always, you need to communicate this out to your project team and sponsor.
NOTE: just because your company doesn't have a CR system, doesn't mean that you don't need to track this work and communicate. I guarantee you will think yourself later when you have some sort of documentation as to why your 3 month project became a 6 month project and all fingers are pointing to the PM.
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