Project Management: The Essentials the Relevance of Term Paper

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Project Management: The Essentials

The Relevance of a Project Charter

A project charter is, in basic terms, a fundamental document that marks the initiation of a project. It outlines details such as the project's objectives and goals, duration, budget, deliverables and scope (Grisham, 2011). The lead project manager prepares the same, and the sponsors, by appending their signature to it, authorize him or her to undertake any activity that appertains to the project (Grisham, 2011). It is clear from this description that a project charter serves as a formal authorization of "the existence of a project and provides the project manager with the authority to apply organizational activities to project activities" (PMBOK, as cited in Grisham, 2011, p. 164). The absence of a project charter presents a number of risks and problems to the manager. These include high chances of project failure, impediments to authority, unnecessarily long decision-making procedures, difficulty in expectations-management, and low levels of project credibility (Karim, 2012).

The Role of Strong Sponsors and a Properly-Defined Scope in Project Success

The project sponsor links the organization's top management and the project-management department (Bourne, 2012). A project sponsor is, in this regard, responsible for; ensuring the alignment of the project with the organizational goals and culture, effectively arranging resources for the successful completion of the project, communicating the project's progress to the executive management, and supporting the lead manager in decision-making and problem-solving (Bourne, 2012).

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A strong sponsor would ensure the smooth flow, and success of project activities, by effectively and conclusively carrying out these essential functions.

A project's scope defines the work it intends to cover (Schwalbe, 2008). A well-defined scope enhances efficiency in three major ways. First, it ensures the efficient allocation of time and resources among project activities (Schwalbe, 2008). Secondly, it provides a floor for the measurement and control of performance. Third, it clearly defines the duties and responsibilities of individual players, thereby preventing an overlap of responsibilities (Schwalbe, 2008). All these factors are crucial to the timely completion, and success of the project.

Components of a Project Management Plan

A management plan outlines the various areas that are to be covered in all the phases of a project, from the initiation, to the closure. The project overview (reasons and objectives), the team (the players' duties and responsibilities), the communication (the channels, type, and reporting guidelines), to mention but a few, are components of a….....

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