BADM 634 Final Research Project Patel, Sagar B..docx - 1...

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1Running Head: Project Charter Process Research PaperBADM – 634 - 04Initiating the ProjectTerm Research ProjectProject Charter ProcessInstructor: Dr. Evelyn C. PaschalDate 09-Aug-2020Sagar B. Patel
2Project Charter Process Research PaperContentPart 1. Introduction……………………………………………………………………………...31.General Introduction2.Importance of project charter to project successPart 2. Literature Review……………………………………………………………………….41.Definition2.Elements of Project Charter3.Key ComponentsPart 3. Conclusion………………………………………………………………………...........121.Critical Take away2.Most critical components3.Stakeholder EngagementPart 4. References………………………………………………………………………...........14
3Project Charter Process Research PaperIntroductionProject can be defined as a non-permanent task or activity that creates unique service orproduct. It should have defined terms and objectives such as duration, budget or targets. As theproject is executed, there is are certain phases that a project undergoes. It starts as an idea anddevelops into a project through project charter, implementation and delivery of the requiredproduct or services. To initiate the project, management creates a project charter as it acts as adocument which contains measurement of various goals and targets of a project. This includes tounderstand the project requirements, needs and concerns from the customer. The sponsors of theproject discuss with the project manager to develop a project charter that will be used throughoutthe project to keep track of progress. This paper highlights all the details related to a projectcharter. It includes project objectives, expectations and requirements, checkpoints with timelines,success criteria and key stakeholders. It also includes risk assessment along with process tomonitor, control and overall project management. These features are discussed in detail in thefollowing paper.This document serves as an executive summary for the overall project. It includes all theimportant details that highlights the importance of project. If the sponsors are not satisfied withthe details, it can lead to cancellation of the project also. This document acts as an agreementbetween the stakeholders and sponsors. As the budget should be approved, the project charter canbe used. It becomes a formal authorization document from the leadership to move ahead with theproject. This document defines the project objectives and key goals at a high level. This can be
4Project Charter Process Research Paperused to measure the final success of the project as the project is delivered. It includes the rolesfor project managers and responsibilities for the team members. With all the necessary andcritical information, the charter is referred during the execution of the project as well. It can aidwhenever there are any distractions in project execution or critical decision making involved.

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Project Management, importance of project charter, elements of project charter

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