The Project Charter: A Concise Definition
By Jeremy Siegel, Northwest University
The project charter is constantly the subject of misinterpretation by many in the PM realm. Below is an accurate, concise, and clear definition of the project charter. The importance of the below definition is that it highlights the authority of the project charter especially when it comes to clearing out ambiguities and resolving high level conflicts during the execution of the project.
The Project Charter is a document that authorizes the project. It also names and empowers the project manager. Objectives of the project are established, and scope of the project is recorded. Another important aspect of the project charter is that it gives definition to what the finished product should be.
The significance of the charter endures beyond the initiating phase of the project; it serves as the unifying document for the stakeholders for the duration of the project. Read the Complete Article
Project Management – Enterprise Environmental Factors
By Jeremy Siegel
This is a quick Sunday evening read on project management. Usually articles this short are not posted here, but this article is extremely concise and beneficial. We hope you enjoy it! PM Hut
Enterprise Environmental Factors are the realities, outside of one’s control, that affect the project. The factors could be cultural, economic, logistical, or regulatory in nature. For a project spanning two different countries, examples of enterprise environmental factors might include language barriers, foreign business customs, and foreign legal guidelines. Cultural environmental factors can also be seen domestically, in the organizational structure and culture of the sponsoring firm. For example, an organization’s existing staff may be unable to efficiently perform the work required to run the project, or perhaps a firm’s cultural aversion to change might keep the project running at a slower pace than desired.
Economic factors include budget constraints (or windfalls) and general market conditions. Read the Complete Article
Planning Procurements in Project Management
By Jeremy Siegel
The process of planning procurements involves determining the project’s need for materials or services found outside of the organization and documenting those procurements determined to be required. The scope baseline, requirements documentation, and risk register are key inputs for the process. Different tools used include make-or-buy analysis, contract types, and expert judgment. Make-or-buy analysis weighs the pros and cons of making a deliverable internally or buying it externally. Factors such as cost, risk, time, and legal implications should be considered.
The type of contract that governs the procured work should also be decided upon in the planning for procurements phase. Different contracts are appropriate for different situations. For example, if a project’s scope is clearly defined, the buyer might prefer to pay the vendor a fixed price for the work performed because the requirements are known and the cost to the buyer will not increase. Read the Complete Article