Contemporary Project Management Study Set 2

The project charter serves as a formal legal contract between the project team and the project sponsor.

The signing of the project charter signals the transition from the high-level project initiating stage into the more detailed project planning stage.

The signing of the project portfolio statement signals the transition from the high-level project initiating stage into the more detailed project planning stage.

In contrast to the case that exists with a legal contract,the parties to a signed project charter are merely obligated to the spirit of the charter since specific details will certainly change.

One purpose of the project charter is to help the project team and sponsor commit to the project.

A charter is used to quickly screen potential projects and to eliminate the poor choices.

Charters used in different industries and in different companies have somewhat different elements and formats.

The scope overview and business case sections of the project charter provide the high-level "what and where" of the project.

A well-written business case should persuade decision-makers to support the project.

The project business case provides a high-level description of what the project will accomplish and how it will be done.

A background statement is often added to a project charter to help stakeholders better understand the background behind the scope overview and business case.

A background statement is a mandatory element of the project charter that sets the stage for creation of the scope overview and business case.

The project master network is a summary-level schedule that identifies the major schedule milestones or significant points and events in the project.

A deliverable is any unique and verifiable product,result or capability to perform a service that is required to be produced to complete a process,phase,or project.

A key concept in agile projects is that something of value will be delivered at each iteration.

Assumptions identified in the project charter include events that,if they occur,will have either a positive or a negative effect on a project's objectives

Risks,assumptions and constraints are included in the project charter so that key participants will be aware of what could prevent them from successfully completing the project.

At the time the project charter is prepared there is typically a very general understanding of the project,so if a budget is included it can only be a rough estimate.

Which of the following documents serves as an informal contract between the project team and the project sponsor?

The project charter grants the project team the right to: