What should be included in a project charter?


Project PlanPlease submit your final term project. Remember, your project should include:Title PageProject Charter (1 page)Stakeholder Identification ( 1/2 page)WBS (1 page)Estimated Time (1/2 page)Estimated Budget (1/ 2 page)Project Schedule (Gantt Chart or similar tool) (1 page)Communications Plan (1-2 pages)Risk Analysis (all risks identified; 3 most important risks quantified & qualified) (1 page)Risk Response Plan (for 3 most important risks only) (1 page)References

For all students enrolled in the project management course, the final term project is a significant and demanding task that demands careful planning, execution, and management. To ensure that each student’s project meets the required standard, this project plan outlines all the necessary components that must be included on the final submission. It is important that each student follows these guidelines to ensure that their project meets the required standard.

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The final term project is an essential component of the project management course. This project is designed to help students understand the practical application of the concepts learned in the course. To ensure that each student’s project is comprehensive and well-structured, the project plan outlines all the necessary components. These components include a project charter, stakeholder identification, a work breakdown structure (WBS), estimated time and budget, project schedule, communications plan, risk analysis, risk response plan, and references. Each of these components is discussed in detail below. Please ensure that you follow these guidelines carefully to ensure that your project is of the required standard.

– Develop an understanding of the essential components necessary to complete a successful project plan.
– Demonstrate the ability to apply project planning knowledge by creating a comprehensive project plan.

Learning Outcomes:
– Identify the key elements of a project charter, stakeholder identification, and WBS.
– Create an accurate project work estimate and budget.
– Effectively present a project schedule using Gantt chart or similar tool.
– Develop a comprehensive communication plan for a project.
– Identify, assess, and quantify potential risks in a project plan.
– Create and execute a risk response plan for the three most critical risks in a project.
– Apply proper referencing techniques to a project plan.

– Understanding and Applying Project Planning
– Key Elements of a Project Plan
– Estimating Project Work and Budget
– Presenting Project Schedule
– Developing Communication Plan
– Identifying Risks
– Creating Risk Response Plan
– Referencing Techniques

Solution 1: Emphasizing Collaborative Efforts

The final term project can be challenging, but it can be achieved successfully with proper collaboration and communication. Thus, the following steps could be implemented:

1. Schedule a kickoff meeting: To ensure that everyone in the team is on the same page, schedule a kickoff meeting, preferably in-person or virtual.

2. Communication Plan: Develop a communication plan that outlines the tools and methods you will use to communicate, such as Slack, Google Meet, Email or Zoom. Identify how often you plan to meet, what you will discuss, and how you will share project updates.

3. Stakeholder Identification: Clearly identify all stakeholders and their respective roles and responsibilities.

4. Create a Shared Project Plan: Generate a collaborative document for the project plan so that every team member can edit, modify or suggest changes.

5. Risk Management: Analyze, identify and evaluate potential risks ahead of time. Also, establish a risk response plan to support the management of risks that may arise during the project.

6. Monitor Progress: Monitor the project progress using Gantt charts or similar tools to track key milestones and project timelines.

7. Motivation: Provide feedback and recognition to motivate team members to achieve project goals and boost their moral.

Solution 2: Investing in Robust Project Management Software

There are several software tools to help in managing project plans, tasks, and policies. Investing in a reputable project management software tool offers a more robust alternative for managing the final term project. For instance, the following features can be employed.

1. Project Plan: The project management software must have a feature to create and share a collaborative project plan that outlines explicit principles and workflow.

2. WBS: It should allow for the creation of WBS and assignment of tasks and assignments to every team member.

3. Estimated Time and Budget: The tool should be able to track the estimated timeline, cost and budget for each project task.

4. Gantt Charts: The tool should provide Gantt charts or similar visually means to track project timelines and progress.

5. Risk Management and Response Planning: The application should have an inbuilt Risk Management and Response Planning module.

6. Communication: Having a communication module that facilitates email, chat, and file-sharing.

7. Customizable Dashboards: The tool should provide the ability to customize project dashboards and reports to the project managers’ specifications.

By utilizing modern project management software, we would have a flexible, efficient, and data-driven final term project management approach.

Suggested Resources/Books:
1. Project Management: A Managerial Approach by Jack R. Meredith and Samuel J. Mantel Jr.
2. The Project Management Book: How to Manage Your Projects Successfully by Richard Newton
3. The Fast Forward MBA in Project Management by Eric Verzuh
4. A Guide to the Project Management Body of Knowledge (PMBOK Guide) by Project Management Institute

Similar asked questions:
1. What is a project charter and why is it important?
2. How do you identify stakeholders for a project?
3. What is a WBS and how does it support project management?
4. How do you estimate time and budget for a project?
5. What is a Gantt chart and how is it used in project scheduling?

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