1.3 Project Charters Flashcards
What is a Project Charter?
A: Defines the basics of a project, creates clear boundaries and expectations, communicate the value of the project to sponsors, managers, stakeholders, and the team, Document goals and actions for later review, acts as a contract between the sponsor, stakeholders, and the project team to define responsibilities and due dates
Does every project need a project charter? If not, why?
A: If a project can be completed in a few steps, just go do it.
When are charters especially helpful?
A: Involves many people, is complex or has many steps, is very visible to management, has long delays between actions, or has a high potential for scope creep.
We talk about SMART Goals, what does SMART stand for?
A: Specific, Measurable, Attainable, Relevant, and Time bound
Why is it important to have Primary Objectives for the project?
A: The problem statement leads to project objectives. Project objectives demonstrate the success of a project (KPI). The project objectives must be concrete and measurable (KPI). Project objectives lead to project metrics.
We describe the impact of the problem in dollars. What three methods can be used for this?
A: Cost Savings, Risk Avoidance, and Business Opportunity
What is Gap to Goal?
A: Goal performance – Current performance = Gap. Gap= Opportunity for improvement
What is the difference between PRIMARY and SECONDARY metrics for your project?
A: Primary metric (KPI) that we want to improve through the course of the project. Secondary metrics are KPIs that you expect to remain steady while improving the primary metric. Secondary metrics are monitored to prevent collateral damage.
Why is it important to have a project scope?
A: Defines the boundaries of where the project will stop. This is important to put edges to the project so that it can be completed, and it prevents scope creep.
What 4 team categories normally are defined for team members?
A: Champion, Project Lead, Stakeholders, and Subject Matter Experts
What should be considered when setting a completion date?
A: Consider any external deadlines. Most projects should be completed in 2-3 months. Larger projects may take up to 6 months.
What should be done if a project is expected to take longer than 6 months?
A: The project should probably be split into smaller projects.
Why is it important to track action items?
A: Provides a history of tasks accomplished and it also is a reminder of next steps to be taken
Why do we need a business case?
A: Define why it is important to the stakeholders to conduct the project. What KPI is not performing as expected.
Why is it important to have a problem statement?
A: We can’t go forward until we can clearly state the problem. Problem statement becomes our guiding star for the project. NOT a proposed solution.
