Implementing Project Integration Management - Developing the Project Charter
13 important questions on Implementing Project Integration Management - Developing the Project Charter
Who does authorize the project charter?
- an enterprise
- a government agency
- a company
- a program organization
- a portfolio organization
- an authorized organizational representative
This does not need to be the project sponsor
How can the project manager define the reasons why the project is chartered?
What should be included in the project charter (directly or by reference to other documents):
- Project Purpose - why the project is being initiated
- Project Requirements for Satisfaction -what it will take to complete the project
- High level requirements - high level purpose, the business need and/ or product requirements
- High level risks
- Milestone schedule
- Summary budget
- Stakeholder list
- Project approval requirements - what does it take for the project to be successful and who signs off on deliverables
- Project manager
- Project sponsor
- Functional Organizations - who and their level of participation
- Contract - needed if the project is completed for another entity
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What should a SOW include?
- The business needs
- The product scope description
- How the project fits within the strategic plan
What should happen with any agreement/ contract?
List the enterprise environmental factors that could impact a project
- Organizational cultures and structures
- Government and industry standards
- Organizational infrastructures, such as facilities and equipment
- The availability of human resources and their competencies
- Personnel administration
- A work authorization system
- Marketplace conditions
- Stakeholder risk tolerances
- Standardized cost estimating databases
- Project management information systems
What do we mean with project selection methods?
- Resolving the unknown, predicting the likelihood of project success and determining expected value of project succes (or cost of failure)
- To be able to select projects to keep and those to discard
Why is the payback period method a weak selection method?
Provide the formulas for calculating PV and FV?
- Future Value (FV) = Present Value (PV) * (1 + interest rate (i)) ^ n (number of time periods
- Present Value = Future Value / (1 +i ) ^ n
What do we need to know about constrained optimization methods?
What is a project plan methodology?
- Simple or complex
- Based upon the project type, requirements of the performing organization or multiple inputs
- led by either hard or soft tools in the organization
What is important about the project plan?
What is expert judgment?
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