Quiz 4: Organizational Capability: Structure, Culture, and Roles

Business

Charter is the deliverable that offers the team members and project managers the power to maintain the planning stage in a detailed manner. This is a kind of an informal contract between the project team and the sponsor. It includes permission for the following: • Permission to make decision. • Permission to plan the project. • Permission to perform and plan the entire project.

In a project, objective of statement means project charter. This statement also defined roles and responsibilities, detailed project goals, identify the key stakeholders, and a project manager's level of authority. It is like instruction for future projects as well as an important material in the knowledge management system of organization. The purpose of each element in a project charter is given below:- 1. Scope overview - Determine how big the project will be. 2. Business case - Why the project is needed? 3. Background - Optional - if more details are needed. 4. Milestone Schedule - When each intermediate point needs to be done 5. Acceptance criteria - How will the quality of work be judged along the way? 6. Risks - Identify what could go wrong and include in planning 7. Spending approvals - How much cans the project manager spend without further approval? 8. Stakeholder list- Who cares about the project and what are their interests? 9. Team principles - How will we work together? 10. Lessons learned - Let's learn from the success/failure of other projects 11. Signatures - Commitment to the project. .

Scope overview • This includes what the project is all about and why the project is in existence. • The scope overview also includes the elevator speech which is prepared by project managers along with core team members. • This gives description about what is to be accomplished and how it needs to be done. • This is helpful for the prevention of scope creep Business case • It includes the justification statement and the purpose of the project. • The question why the project is into existence is explained properly. • The necessity of the project is described here. • The organizational strategies are clearly stated in the business case. • The benefits and cost estimates of the project are clearly mentioned. • This case persuades decision makers and inspires the team members for the completion of the project.