Project Management Flashcards
What is a project charter and what does it include, generally?
A project charter is the outcome of the project’s initiate phase and provides a short, high-level overview of the project and what is required for anyone involved.
It includes:
- the need for the project
- a brief description of its deliverables and components
- a rationale for why the org has undertaken the project
- outline the implications and consequences of the project
Who writes a project charter and who approves it?
The project manager and team write it. The sponsor reviews and approves it.
What topics are included in the project charter? (10)
- justification, purpose, or need for the project
- organizational and project objectives
- cost-benefit analysis
- key stakeholders
- high-level risks
- high-level constraints or boundaries
- budget summary
- critical milestones
- criteria for success
- authority for the project manager and others as required
What are inputs into the charter? (5)
- Business case for project
- Statement of work
- Contracts or agreements, such as MOUs and service level agreements
- Enterprise environment factors, such as market conditions, regulatory requirements, and other constraints
- Org standard policies and processes that may influence charter
Why is a project charter so important?
Provides a start to the project and identifies project manager’s name/authority, timelines, and scope.
It develops a formal record of the project and provides a rationale to senior leaders for acceptance.
What signifies the start of a project?
Without a project charter, officially, there is no project.
4 phases of a project
Initiate - start the project, including writing the charter
Plan - determine schedule, required resources, and budget
Manage - execute or control the work in progress, provide feedback, and resolve differences
Close - end the project, including documentation and a project review
What takes place during the Plan phase of project management? (8)
- Determine key milestones
- Establish a schedule
- Assign resources
- Create a more detailed budget
- Create a communications plan
- Create a change management plan
- Develop a risk management plan
- Defined roles and responsibilities
Ends with a completed project plan.
What takes place during the Manage phase of project management? (6)
- Control work in progress
- Provide status and feedback to key stakeholders
- Resolve conflict
- Manage change
- Leverage governance for decision-making
- Manage risk
How is change handled in a project?
Though the charter doesn’t change, the project will. The manage phase addresses the need to adapt to the unexpected.
All change should be documented and formally approved.
What takes place during the Closing phase of project management? (8)
- Finalize roll-out timeline with client
- Deliver training (as needed)
- Re-allocate staff to their next project
- Meet with stakeholders to discuss ways to make future projects more efficient and effective
- Meet with the project sponsor for project eval
- Publish a post-project review
- Archive pertinent artifacts/documentation (e.g, project charter, project plan) for future use
- Celebrate with the entire team
What are 2 critical items identified during the plan phase?
- How to monitor the status of the project
- Communicating the status to those who need to know
How do project managers monitor project progress? (5)
- Checking the status of individual tasks
- Comparing actual performance to the plan
- Updating current costs and schedules
- Assessing customer and stakeholder requests
- Ensuring continued alignment with org objectives
How should a status update timeline be established?
Sharing project schedule and task status updates builds confidence.
Project sponsors should receive timely and detailed status updates on a fixed frequency. Share what project sponsors want to know, not what the manager wants to share.
While the project manager may be too busy to talk with all stakeholders, brief, regular updates build confidence and collaboration.
