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There will be at least 10+ questions about the Project Charter on the PMP exam. Keep in mind that although the project manager may study the project requirements, risks, assumptions and then write them down in the project charter document, the project manager is not the one to sign the project charter. Project charter Input/Output. Wrap Up. It has helped thousands of project managers achieve the PMP certification within 6-8 weeks. A direct way for senior management to formally accept and commit to the project. Develop Project Charter implies working with stakeholders to create the project charter, the foundation document for the project. We have also listed the names of project sponsors who will authorize the project. A project charter is the statement of scope, objectives and people who are participating in a project. It also explains the reason for project identification and selection. a document issued by the project initiator or sponsor that formally authorizes the existence of a project Looking to Understand the Project Charter? Develop Project Charter is the process of developing a document that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities. The objectives should be S.M.A.R.T – Specific, Measurable, Acceptable, Realistic and Time Bound. The project charter is needed to provide initial, and continuous guidance to the project manager, and the entire project team about the scope, high lever deliverables and helps to set boundaries for the project. The project charter provides political and financial support for the project, telling everyone in the company why the project is needed and providing the project manager authority to manage the project. Learn more. Stakeholders get the confidence from the Project Charter. Pla… Of the 47 processes in the PMBOK Guide, Sixth Edition (applicable for PMP exam starting from July 2013 onwards), the Develop Project Charter in the first listed process. The business case is a tool or technique of the “Develop Project Charter” process. A project charter, on the other hand, is formal documentation of how a project will be managed, list of initial assumptions, risk, issues, scope, high-level timeline etc. Identification of project scope: Scoping is a critical activity to create a boundary of what work to be done and what not to be done. Project Charter Definition of Project Charter from the PMBOK Guide. Is the term Project Charter new to you? Project Charter. Other reasons may involve changes to the EEFs/OPAs that are being used as INPUTS to the Develop Project Charter process. The project charter is ideally created by the project initiator – the person who came up with the initial idea for the project. Do you need to memorize ITTO for the PMP Exam, Difference between Contract Closure & Administrative Closure for PMP Exam. If you did not receive a SOW, then you can still proceed on the basis of the remaining documents, and start a fact finding mission to fill in the missing information. Use them, tweak them to suit your needs. Provide a simple but precise statement of the project.Example 1: Rice University is planning to create a store to sell computer supplies. This is not the judgment of the project manager … rather, it is the subject matter experts (SME) who can provide the best ways to gather information and create a solid, robust, flexible and workable project charter that can be achieved. That’s because the manager external to the project is not going to run the project on their own, but will provide the budget, time, resources to the project manager. Creating a project charter is a job that a good project manager should be able to handle. If you are serious about getting the PMP certification, you better study, understand and master the key concepts of the project charter thoroughly. The sponsor is the person who provides time, money, resources to the project manager to do the project. All The project manager and project sponsor (or the person who kicked off the work, if a longer-term sponsor has yet to be appointed) should sign and date the document. The project charter provides political and financial support for the project, telling everyone in the company why the project is needed and providing the project manager authority to manage the project. In the beginning, nobody on the project team may have a very clear idea about the project. You will never know whether you have achieved the objectives or not. Configuration Management & Change Management System: Differences, Simple Formula Questions Part 1 – Three Point Estimates, How to Answer Situational Questions in the PMP Exam, PMP Exam Testing Center Moves to Pearson VUE, Project Need / Opportunity / Justification for the Project. On the other hand, we can not proceed with planning until we have agreed on the project objectives. Provides clarity to the project manager and the team about the end result, the end deliverable of the project. And you can’t authorize yourself to do any project on the organization’s behalf. It is written in broad terms, so that minor changes to the project can be handled easily, without having to change the charter. Having said that, a change of project manager should not have any impact on the Project Charter. Difference between Fixed Cost and Direct Cost, How To Get PMP Certification in Just 30 Days, PMP Exam Question Distribution Chart here, better understanding of the ITTOs from this method, Online PMP Exam Preparation Coaching workshop, helped thousands of project managers achieve the PMP certification, PMP Strategy: How to answer PMP Questions, How to Pick The Right Answer When All Choices Seem Correct in PMP exam, Practice on over 1800 questions for the PMP exam, https://www.youtube.com/watch?v=Ri3KFCoQuUo&list=PL6lTcPjBaSdW2mygJ0VA_Q9Nzesmg6VGc&index=5&t=0s, 3 Point Estimate: Triangular Distribution vs Beta Distribution (PERT), Cost Plus Incentive Fee Calculations For PMP Exam, Point of Total Assumption Calculations on PMP Exam. A success be affected by the organization/management to the project Work or the PMBOK ( 5th )... High-Level details and may reference … Tools & Techniques, and related process people:. 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