PM Chapter 4

what are the four purposes of a charter

1. authorize pm to proceed 2. develop common understanding 3. create commitment 4. screen out poor projects

milestone schedule creation steps

1. describe current situation 2. describe successful completion 3. describe acceptance criteria 4. determine key varifiable points 5. determine how each milestone will be judged 6. add completion date

what are the three reasons for teams to look at risks

1. identify negative risks 2. identify positive risks 3. rational for the project if more risks from not doing it

what are some benefits of having a project charter

1. teamwork develops 2. trust and communication develop 3. sponsor less likely to change agreements

what are the 11 parts of a project charter according to the book

1. title 2. scope overview 3. business case 4. background 5. milestone schedule 6. risks, assumptions, constraints. 7. resource estimates 8. stakeholders list 9. team operating principles 10. lessons learned 11. signatures

what should the length be of both the scope overview and the business case

2 to 4 sentences each

constraint

a limiting factor that affects the execution of a project

lessons learned knowledge base

a store of historical info and lessons learned about both outcomes of previous project selection decisions and previous performances

milestone schedule

a summery-level schedule that identifies specific points/events in the project

risk

an uncertain event or condition that, if it occurs, has a positive or negative effect on the project objectives

deliverable

any unique and varifiable product, result, or capability to perform a service that is required to be produced to complete a process, phase, or project.

which part of the charter is purely optional

background: depends on what the stakeholders what

what part of the charter should clearly tie the project to the organization's strategy and explain the benefits

business case

what is the main moral duty of the core team

commit to shared goals that are in the charter

requirements

conditions or capabilities that are required to be present in a product, service, or result to satisfy a contract

who writes the charter typically?

core team

what is the point of the milestone schedule

divide the project into intermediate points whose completion can be verified

assumption

factors in the planning purpose that are considered to be true, real, or certain w/o proof

what else does the business case include

high level estimates of the cost and benefits, ethical reasons for doing the project

what do the team operating principles establish

how meetings will be conducted how decisions will be made how work will get done how everyone will treat each other

what happens if an assumption turns out to be false?

it becomes a risk

why should the budget be called a preliminary budget?

it is only an approximate at this phase.

lessons learned

knowledge gained during a project which shows how project events were addressed and how they should be addressed in the future with the purpose of improving performance

what is another name for a positive risk?

opportunity

what are the things that could cause a project problems?

risks, assumptions, and constraints.

charter

short document that serves as an informal contract between the project team and the sponsor

resource

skilled human, equipment, service, supplies, or funds

acceptance criteria

standards, rules, or tests by which a product, service, or process can be evaluated

product scope

the features and functions that characterize a product, service, or result

scope overview

the project in a nutshell; elevator pitch

what is another name for a negative risk

threat

scope creep

uncontrolled expansion of a product or project scope without adjustments to time, cost, and resources

project scope

work that must be performed to deliver a product, service, or result