Recently, I had the opportunity to volunteer for a not-for-profit organization to manage its website development project. While working with my portfolio manager, I asked him, “What would be one of the first deliverables that you would expect from me.” He replied, “Delivering the project charter.“ “Why the big fuss about delivering a project charter for a small project like a website development project?”, I wondered. However, while
working with him on the charter, I realized that even for a project like this, a lot of time and effort is required to prepare a charter. As Rita Mulcahy writes in one of her prep books for the PMP certification, “Do not underestimate the value of the project charter. It is such an important document that a project should not be started without one. If the project charter
serves as a definition of how success will be measured, then without a project charter, the project and project manager cannot be successful”. So let us take a look at the importance of a project charter and what the project charter is all about. Interested in project management? Check out
Top Reasons to Become a Project Manager. The project charter is a document that officially starts a project or a phase. It formally authorizes the existence of the project and provides a reference source for the future.
The charter gives a direction and a sense of purpose to the management from start to end. As Randy Tango, a business-driven project practitioner, mentioned in one of his articles: “Take great pride and care in your project charter because this is where you sow the good seeds. It will eventually take care of you.” A project charter names the project manager and defines the authority of the project manager. It gives the project manager the power to utilize organizational resources to
accomplish the project objectives. Learn more about What is Project Management? What are the Project Objectives?
Why Do We Need a Project Charter?As mentioned previously, the primary purpose of a project charter is to authorize the project manager to start the approved project and allow him to use organizational resources to accomplish the objectives of the project. If the charter is created correctly, it also helps executives see the business value of the project. They can also reference the charter to understand how well the project is aligned with the organizational strategies. Josh Nankivel, PMP®, a trainer and principal of PMStudent, said that “A project charter should also serve as an executive overview of your project, one that any new executive can reference to evaluate it. A good project charter can help save you from unnecessary scrutiny or having your project shut down because some executives didn’t see the business value in it from their perspective". Looking forward to enhancing your project management skills? Take our project management certification course today and take your project management career to new heights. When Do We Create a Project Charter?As per the PMBOK® Guide, the project charter is created during the "Define" process. This process is one of the first ones to be performed in a project and is completed during the "Initiating" process domain. Who Signs and Issues a Project Charter?The sponsor or the initiator signs the project charter. The PMBOK® Guide, 4th edition (new one) states: “Projects are authorized by someone external to the project such as a sponsor, PMO or portfolio steering committee. The project initiator or sponsor should be at a level that is appropriate for funding the project. They will either create the project charter or delegate that duty to the project manager. The initiator’s signature on the charter authorizes the project”. It should clearly state who is responsible for funding and who needs to sign the document. Josh Nankivel states in one of his articles, “I have worked with several project managers who ran into funding issues because a particular director or executive who said they would fund a project from their budget didn’t come through. The project charter should clearly state who is responsible for funding, and they need to sign it, too!” You may be interested in learning about how you can save money when implementing a project. Can the Project Manager Be Involved in the Preparation of a Project Charter?Though he is appointed in the project charter, a project manager can still be involved in the preparation of the project charter. The sponsor or the initiator usually creates the charter along with the project management team. The sponsor may lack the skills required to prepare a project charter and may need the help of a Project manager to make a charter. As Cornelius Fichtner, PMP® trainer and host of the PM Podcast, mentions in one of his articles, “The PM is a subject matter expert when it comes to initiating and starting a project. Hence the PM is more qualified to create the project charter. He or she has more experience in doing this and knows what kind of details to add to the project charter ”. Some Key Facts to Be Remembered About the Project Charter for the PMP Certification Exam Are
Learn new trends, emerging practices, tailoring considerations, and core competencies required of a Project Management professional with the PMP Certification course. Project Charter Sample Questions1. The project charter should always include:a.The Schedule Management Plan 2. In which of the following processes is the project manager assigned his or her role in the project?a.Initiating 3. Who issues a Project Charter?a.Customer Answers1. Ans d. 2. Ans a. 3. Ans
d. ConclusionThe project charter is an important part of any project wherein it actually accredits the existence of any project and allows the project manager to start the project. To learn more about project charter and several other project management aspects, the PMP Certification course will help you to understand the role of a project manager and how important project charter is. Are you looking forward to making a mark in the Project Management field? If yes, enroll in the Project Management Fundamental Program now and get a step closer to your career goal! PMP and PMBOK have registered trademarks of the Project Management Institute, Inc. Which documents serves as an informal contract between the project team and the project sponsor?The charter acts as a contract between the project sponsor, key stakeholders and the project team.
What document formally authorizes a project quizlet?Answer: The project charter formally recognizes the existence of a project; identifies a project manager and gives the project manager the authority to assign organizational resources to project activities.
What are the elements of a project charter?The six main parts of a project charter are an overview, an outline of the project's scope, an approximate schedule, a list of anticipated risks, an estimated budget, and a list of key stakeholders. Overview: Outline what the project entails and what it should accomplish.
What elements are part of a scope of work sow select all that apply?Elements of an SOW can include:. Purpose of the project.. Scope of work being performed.. Location of the project, project length, and any work requirements.. Expected deadlines and deliverables.. Acceptance criteria.. Any hardware and software required.. Performance-based standards to be met.. |
Which of the following documents serves as an informal contract between the project team and project sponsor?
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