Contemporary Project Management Chapter 3 PDF

CONTEMPORARY PROJECT MANAGEMENT, 4E Timothy J. Kloppenborg Vittal Anantatmula Kathryn N. Wells 1 Chapter 3 Chartering Projects 2  Chapter 3 Core Objectives: Describe what a project chart...

CONTEMPORARY PROJECT MANAGEMENT, 4E Timothy J. Kloppenborg Vittal Anantatmula Kathryn N. Wells 1 Chapter 3 Chartering Projects 2  Chapter 3 Core Objectives: Describe what a project charter is and why it is critical to project success List elements of a charter and why each is used Create each section of a charter © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.  First Idea: What is a Project Charter? is a formal short document that states a project exists and provides project managers with written authority to begin work. used in project planning to outline the key aims and benefits of a project. A charter should contain all the details decision-makers need to know. Everything that stakeholders need to know about why a project needs to happen should be contained within the project charter. This document: a. Draws up the business case b. Outlines the benefits c. Identifies the resources needed to carry it out © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.  Why is a Project Charter used? 1. Creates a project roadmap. can look to the project charter for guidance. 2. Markets the project to stakeholders. A well-drafted project charter serves as your project’s principal internal marketing document. 3. Prevents scope creep. Project charters give clear definitions to the scope of a project. 4. Authorizes project kickoff. Project managers will use the project charter as the authorization they need to begin adjusting workflows, redirecting resources and spending budget. 5. Provides company continuity. the project charter acts as a vital part of keeping your timelines and objectives on track without the need to adjust too dramatically. © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Assignment 3: Give example about project charter decision matrix for any business When is a charter needed? © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Second Idea: Typical Elements in a Project Charter © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.  A- Scope Overview the precise description of a project’s goals, deliverables, and boundaries. It defines what work is included and excluded from the project and establishes the frame- work for the tasks that must be performed to achieve the project’s goals. ​The project scope statement, a fundamental document in project management, elaborates extensively on a project’s objectives, deliverables, constraints, assumptions, and the criteria required for its accep- tance. Project scope statement functions as a binding agreement, offering a comprehensive and transparent overview of what the project intends to accomplish and the necessary efforts to reach completion © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.  B- Business Case provides justification for undertaking a project, programme or portfolio. is a document that allows decision-makers to determine whether the project is worth the investment. It evaluates the benefit, cost and risk of alternative options and provides a rationale for the preferred solution. The approved business case provides a record of the decisions made by governance about how to achieve the required return on investment from the work. © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.  C- Background ▪ is a formal project management document. ▪ a one-page section of your project proposal that explains the problem that your project will solve. ▪ contains a common description of: 1. what is expected to be done within the project, 2. what prerequisites for the project are, and 3. how to produce the expected amount of work. D- Milestone Schedule with Acceptance Criteria Milestone Schedule ▪ Is a way of planning and tracking the progress and quality of a project by defining specific points or deliverables that must be completed and verified by the stakeholders. ▪ Can help to: 1. Divide a complicated project into smaller and simpler parts 2. Communicate the scope, objectives, and expectations of the project 3. Identify and mitigate risks and issues 4. Ensure customer satisfaction and stakeholder 5. Keep track of how the project is going and how well it is doing © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.  E-Acceptance criteria Acceptance criteria: ▪ Standards or requirements that must be met for each milestone to be considered complete and acceptable by the stakeholders. ▪ Should be clear, concise, testable, and agreed upon by all parties involved but not too restrictive or vague. ▪ Examples of acceptance criteria are functionality, quality, performance, usability, compliance, etc.  F- Assumptions, Constraints, and Risks Project managers are responsible for handling many components of projects, including Assumptions and constraints ▪ is a belief (a project manager may plan a project based ▪ Is a limiting factor of a project. on what they expect to happen forms based on their ▪ can affect the quality and overall success of a project previous experience and analysis of available information. ▪ Project managers infer their assumptions based on their ▪ Project managers know their constraints for certain and experience, they assumed to be true and are proven to be true. ▪ EX: make assumptions about project deadlines, costs, ▪ EX: scope, cost and time, but project managers can also resources, Technology, Project team , Environmental face other constraints. (location) ▪ Can manage constraints by: ▪ manage assumptions by: 1. adjusting them to fit changes in the project and revise the project plan. 2. often document them to manage risks. One major difference between assumptions and constraints is the level of certainty of each. © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.  Project Risks ▪ is an uncertain event (potential circumstance) that may or may not occur during a project ▪ a project risk could have either a negative effect or a positive, and can lead to a project's failure if not managed properly. ▪ affect deliverables, timelines, and budgets. EX: 1. Scope creep: Keeping projects on schedule and on budget are two of the biggest factors in project success. a project requires starts to expand unexpectedly, it can become difficult to adhere to project schedules and budgets. 2. Client dependency risks: project managers should establish clear communication channels with clients and key stakeholders. 3. Budget overruns: misestimating costs during the project planning phase can also lead to projects going over budget. 4. Tight deadlines: Regularly assessing project progress against expected timelines can also help identify potential schedule risks while there is still time to adjust. 5. Market changes: developed the perfect new product or solution, changes in customer behavior or the new technologies 6. Legal and regulatory risk: is a major risk for project managers. Risk Assessment Example © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. G- Resource Estimates ▪ is one of the primary skills for a project manager. ▪ depends on not only understanding project scope and needs, but also having detailed knowledge of how each team member performs, together, and the typical feedback loop between team and client. ▪ Proactively managing resources and capacity planning is key for project managers to succeed. H- A Stakeholder List is an organized documentation that helps identify and categorize all the key players involved in a project or an organization. This list provides essential details about these stakeholders, including their: ( roles, contact information, and interests related to the project). These individuals or groups can be internal (e.g., employees, managers, shareholders) or external (e.g., suppliers, customers, regulators).  H- Team Operating Principles detail how you need to function within a team to operate at maximum transparency and efficiency. aligning you with the company culture but they rarely go deep into how you should operate within a specific team. How to How to conduct accomplish meetings work How to treat How to each other make with respect decisions © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.  I- Lessons Learned the documented information that reflects both the positive and negative experiences of a project. They represent the organization's commitment to project management excellence and the project manager's opportunity to learn from the actual experiences of others. Lessons Learned register ▪ A project document used to record knowledge from past experiences gained during a project, phase, or iteration. ▪ is a centralized database that stores and archives lessons learned from different projects. ▪ used to improve future performance for the team and the organization. ▪ Project teams can add, update, or modify the lessons-learned repositories to ensure that they are always updated, that only useful information is included, and that fluff is removed. © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Contents of the Lessons-Learned Register At a minimum, the lessons-learned register should include the following elements: Problems Solutions Impacts Recommendations  J- Signatures and Commitment the Project Sponsor approves the charter by signing it (or indicating approval digitally). There may be multiple sponsors. The project sponsor, project manager, and core team members show commitment by signing the charter. Once the project charter is complete, it will need to be presented to stakeholders for approval. This step gives the team the green light to kick off work on an approved project. © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Summary A project charter enables the project sponsor, project manager, and core team to agree on the project at a high level. Charters include scope overview, business case, milestone schedule, acceptance criteria, risks, and signatures (other sections optional). A rough draft of the business case and scope overview are written. Sponsor goes over the charter with the project manager and core team. The charter is the document that completes the project initiating stage and begins the planning stage. © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.