Initiation 1.7 - Elements of a Project Charter Flashcards
What 8 elements must a project charter include?
Business need Measurable Business Goals Project Requirements Approval requirements Product Scope description Milestones and deliverables schedule Summary Budget Project Sponsor Approval
Define the “Business Need”
- This is a summarized version of the business case.
- It describes the reason for initiating the project, specifically stating the business problem that the project will resolve.
Define “Measurable Business Goals”
objectives and factors that are deemed critical to the success of a project.
- You can obtain this data from agreements that are in place.
How can you obtain the data for “Measurable Business Goals”?
- You can obtain this data from agreements that are in place.
Define “Project Requirements”
- should state what is needed to perform the work to the required specifications.
- You can obtain this high level information from the statement of work.
Where can you obtain the information for “Project Requirements”?
- You can obtain this high level information from the statement of work
Define “Approval Requirments”
- It should describe the quality objectives for each deliverable in terms of output standards and approval requirements. This includes all the product-related reviews and processes for acceptance testing that will be carried out during the project.
Where are the “Approval Requirements” derived from?
- It is abridged from agreements.
Define “Product Scope Description”
- describes the product to be delivered by the project. This helps you to translate the project objectives into tangible deliverables.
Define “Milestones and Deliverables Schedule”
- The deliverables are a set of outputs for each milestone delivery date.
- provides checkpoints to monitor project progress and revalidate work.
Where are “Milestones and deliverables schedule” derived from?
- abridged from existing agreements.
Define “Summary Budget”
- itemized forecast of estimated or intended expenditures assigned to a particular project activity over a set period.
- You can source this data from the business case.
- Your summary budget specifies an allocated disbursement amount for each phase of the project.
Where is the information for the “Summary Budget” derived?
- You can source this data from the business case.
Define “Project Sponsor Approval”
- Approval indicates an understanding of the purpose and content described and that work should be initiated and necessary resources committed to the project.
What should the “Project Sponsor Approval” do?
- establishes the authority of the named individual to make decisions and lead the project.
- names the person who has ultimate responsibility for and has the formal authority to approve the project charter.
- Formally initiates the project
