Question

1. What are the elements of a project charter (according to PMBOK 5th Edition)? Please list each element and describe why each section is important and critical to the overall project’s success?

Answer 1

Project charter is a formal document that describes the project in detail showing the scope, assumptions, resource needs, objectives etc

Category: Business Case

1. Project purpose or justification

This sets the direction and goal for the project offering clarity

Category: Scope Management

Measurable project objectives

‘What is not measured is not managed’

Here the purpose of the project is transferred to measurable objectives. This shows the team members what to achieve using the available resources . Objective for cost, quality, customer satisfaction etc are mentioned here

Project success criteria

Show criteria that indicate the successful completion of a project. For e.g. cost objective may be met but quality objective might be lagging. Can w still it consider a successful project? The success criteria help us to decide what makes a project successful

High-level description of the project and boundaries

Specifies the scope and boundaries of the project. It shows what can be expected and what should not be expected from the project

Category: Risk Management

5. High-level risks

Risk management and contingency planning helps us to prepare for uncertainty and events that may disrupt or delay the project objectives

Category: Time Management

Summary Milestone

Shows significant events that show the progress of the project. This helps us to understand where we stand in terms of progress and compare our progress with baseline established. Variations in accomplishing milestones will help us to take alternate actions in the due course of project so that objectives are achieved

Category: Cost Management

Summary Budget

Shows the initial expenditure requirements. This shows the team members the budget constraints and what is expected in terms of cost

Category: Stakeholder Management

List of Stakeholders

This helps in identifying then people affected by the project and those who are interested in, so that we can plan on how to manage them. Successful completion of a project requires stakeholder management

Category: Authority

Project approval requirements

Shows who decides upon the approval of resources and deliverables. This determines the responsibilities and the accountabilities of individuals and managers

Project manager assigned to project

Identifies the project manager and his responsibilities. The project manager acts as the liaison between team members and other stakeholders. He ensures the success of the project

Project Sponsor

The project sponsor is one step above the PM and has the right to control. Identifying him is essential to understand who directs the project.

Project charter is a formal document that describes the project in detail showing the scope, assumptions, resource needs, objectives etc

Category: Business Case

1. Project purpose or justification

This sets the direction and goal for the project offering clarity

Category: Scope Management

Measurable project objectives

‘What is not measured is not managed’

Here the purpose of the project is transferred to measurable objectives. This shows the team members what to achieve using the available resources . Objective for cost, quality, customer satisfaction etc are mentioned here

Project success criteria

Show criteria that indicate the successful completion of a project. For e.g. cost objective may be met but quality objective might be lagging. Can w still it consider a successful project? The success criteria help us to decide what makes a project successful

High-level description of the project and boundaries

Specifies the scope and boundaries of the project. It shows what can be expected and what should not be expected from the project

Category: Risk Management

5. High-level risks

Risk management and contingency planning helps us to prepare for uncertainty and events that may disrupt or delay the project objectives

Category: Time Management

Summary Milestone

Shows significant events that show the progress of the project. This helps us to understand where we stand in terms of progress and compare our progress with baseline established. Variations in accomplishing milestones will help us to take alternate actions in the due course of project so that objectives are achieved

Category: Cost Management

Summary Budget

Shows the initial expenditure requirements. This shows the team members the budget constraints and what is expected in terms of cost

Category: Stakeholder Management

List of Stakeholders

This helps in identifying then people affected by the project and those who are interested in, so that we can plan on how to manage them. Successful completion of a project requires stakeholder management

Category: Authority

Project approval requirements

Shows who decides upon the approval of resources and deliverables. This determines the responsibilities and the accountabilities of individuals and managers

Project manager assigned to project

Identifies the project manager and his responsibilities. The project manager acts as the liaison between team members and other stakeholders. He ensures the success of the project

Project Sponsor

The project sponsor is one step above the PM and has the right to control. Identifying him is essential to understand who directs the project.