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