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Chapter 6

A project charter formally authorizes a project and gives the project manager authority over resources. It should contain elements like the purpose, objectives, schedule, resources, personnel, risk management plans, and evaluation methods. Project planning involves dividing work into segments like concept evaluation, requirements identification, design, implementation, test, integration, validation, customer evaluation, and operations & maintenance. This results in a hierarchical work breakdown structure (WBS) that organizes the total project scope. Risk management involves identifying, analyzing, and responding to risks through processes like risk planning, identification, analysis, response planning, monitoring, and using a risk register.

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17 views2 pages

Chapter 6

A project charter formally authorizes a project and gives the project manager authority over resources. It should contain elements like the purpose, objectives, schedule, resources, personnel, risk management plans, and evaluation methods. Project planning involves dividing work into segments like concept evaluation, requirements identification, design, implementation, test, integration, validation, customer evaluation, and operations & maintenance. This results in a hierarchical work breakdown structure (WBS) that organizes the total project scope. Risk management involves identifying, analyzing, and responding to risks through processes like risk planning, identification, analysis, response planning, monitoring, and using a risk register.

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lawrence-15-2019813060
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Project Charter Elements

A project charter is a foundational document that formally authorizes the existence of a project and
provides the project manager with the authority to allocate resources and perform project-related
activities.

should contain the following elements:


1. Purpose
2. Objectives
3. Overview
4. Schedules
5. Resources
6. Personnel
7. Risk Management Plans
8. Evaluation Methods

Project Planning in Action/ Project planning process


Using a planning process oriented around the life-cycle events common for software and

hardware product developers, they divide the project into nine segments:

1. Concept evaluation
2. Requirements identification
3. Design
4. Implementation
5. Test
6. Integration
7. Validation
8. Customer test and evaluation
9. Operations and maintenance

The Work Breakdown Structure (WBS)

The hierarchical planning process results in a work breakdown structure known as a WBS.
The Work Breakdown Structure (WBS) is a hierarchical decomposition of the project scope into smaller, more
manageable components called work packages. It organizes and defines the total scope of the project in a
structured manner, allowing for better planning, control, and management. Image
integration management
The intricate process of coordinating the work and timing of the different groups is called integration
management. The term interface coordination is used to denote the process of managing this work
across multiple groups.

PROJECT RISK MANAGEMENT

Project Risk Management involves identifying, analyzing, and responding to risks that might
impact a project's objectives. It aims to minimize potential negative effects on the project
and maximize opportunities for positive outcomes. Here's a breakdown of its key
components:

1. Risk Management Planning—deciding how to approach and plan the risk management activities
for a project.

2. Risk Identification—determining which risks might affect the project and documenting their
characteristics.

3. Qualitative Risk Analysis—performing a qualitative analysis of risks and conditions to prioritize


their impacts on project objectives.

4. Quantitative Risk Analysis—estimating the probability and consequences of risks and hence the
implications for project objectives.

5. Risk Response Planning—developing procedures and techniques to enhance opportunities and


reduce threats to the project’s objectives.

6. Risk Monitoring and Control—monitoring residual risks, identifying new risks, executing risk
reduction plans, and evaluating their effectiveness throughout the project life cycle. We add here a
seventh subprocess, based on the discussion concerning the identifi cation of risks in PMBOK®.

7. The Risk Management Register—creating a permanent register of identifi ed risks, methods used
to mitigate or resolve them, and the results of all risk management activities

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