Outlining a project's essential details, a project charter is an essential document in project management. This is an outline of its principal elements and significance:
Important Project Charter Elements
• Project Summary: An overview of the project, outlining its goals and purpose in brief.
• Scope: Establishes the project's limits and specifies what will and won't be included.
• Objectives: Defined targets that the project seeks to fulfill.
• Stakeholders: Lists all stakeholders with an interest in the project, such as the manager, team members, and sponsor.
• Roles and Responsibilities: Identifies the project's accountability structure.
• Budget: An approximation of the needed funds.
• Schedule: Important dates and checkpoints.
• Risks: Possible difficulties and the plan for handling them.
Importance of a Project Charter
• Authorization: This formally approves the start of the project and grants the project manager the power to utilize resources.
• Alignment: Ensures that the objectives and scope of the project are understood by all parties involved.
• Guidance: Serves as a point of reference and aids in maintaining project focus throughout its duration.
• Communication: Offers a concise synopsis that can be distributed to interested parties in order to inform them.
Creating a Project Charter
1. Initiation Phase: During this stage, the project manager usually drafts the charter.
2. Consultation: To obtain the required data, consult with important stakeholders.
3. Documentation: Outlining the goals, objectives, scope, and other pertinent information.
4. Approval: The project sponsor or other important stakeholders examine and approve the charter.
Example
Consider a project to create a fresh mobile application. The following would be included in the project charter:
• Overview: Create an easy-to-use mobile shopping application.
• Scope: App development, testing, launch, and design.
• Goals: In the first year, raise online sales by 20%.
• Project managers, sponsors, development teams, and marketing teams are among the stakeholders.
The marketing team is in charge of promoting the app, while the development team is in charge of building it.
• Budget: A $100,000 estimate is made.
• Timeline: From start to launch, six months.
• Risks: Possible budget overruns and development delays.
A well-written project charter ensures that everyone is on the same page and clearly defines the project's route, which lays the groundwork for a successful outcome.
Please read my book on Project Charter Impact on project life cycle.
0 Comments