Part 1 Project Charter At The End Of Week Two You Are To Cre

Part 1 Project Charterat The End Of Week Two You Are To Create And

At the end of week two, students are required to create and submit a comprehensive project charter. This document serves as the first official stage of project documentation and must be reviewed and approved by the project sponsor. The project charter should include key components such as the project title, purpose, description, objectives, success criteria or expected benefits, funding details, major deliverables, acceptance criteria, milestone schedule, key assumptions, constraints, major risks, approval requirements, project manager information, reporting requirements, sponsor designee, and approval signatures.

Paper For Above instruction

The project charter plays a pivotal role in establishing the foundation and scope of a project. It formally authorizes the project, aligning stakeholders and setting clear expectations from the outset. For effective project initiation, the charter must be thorough, well-structured, and communicative of all critical components that influence project execution.

To begin with, the project title should be succinct yet descriptive, capturing the essence of the project. The purpose describes the primary reason the project exists, aligning with organizational strategic goals. The project description provides an overview, including the background, scope boundaries, and overarching goals. Objectives clearly specify what the project aims to accomplish, ensuring measurable success criteria are defined to evaluate progress and completion effectively.

Funding details are essential for resource allocation, encompassing the total budget allocated, funding sources, and financial constraints. Major deliverables delineate tangible outputs or outcomes expected from the project. Acceptance criteria specify the standards and conditions that deliverables must meet for approval by stakeholders. The milestone schedule outlines significant checkpoints and completion dates, providing a timeline for tracking progress.

Key assumptions, constraints, and major risks are identified to inform planning and risk mitigation strategies. Assumptions represent factors believed to be true for planning purposes, while constraints define limitations such as resources, time, or scope restrictions. Risks indicate potential events that could threaten project success, necessitating proactive management strategies.

Approval requirements specify the criteria and administrative procedures necessary for formal project approval at various stages. The project manager designated is responsible for planning, executing, and closing the project, and reporting requirements clarify how progress, issues, and changes are communicated to stakeholders. The sponsor designee acts as a liaison and decision-maker for project approvals, with signature approval required to formalize project commencement and key milestones.

Development of this comprehensive project charter ensures alignment among stakeholders and provides a solid basis for subsequent planning phases. It serves as a formal agreement, setting expectations, responsibilities, and scope boundaries that underpin project success.

References

• Project Management Institute. (2017). A Guide to the Project Management Body of Knowledge (PMBOK® Guide) (6th ed.). PMI.
• Heldman, K. (2018). PMP Project Management Professional Exam Study Guide. John Wiley & Sons.
• Shim, J. K., & Siegel, J. G. (2017). Financial Management and Accounting in the Public Sector. Routledge.
• Kerzner, H. (2014). Successful Project Management. Wiley.