Understanding the PMBOK Project Charter

A project charter is a formal document that authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities. It serves as a reference of authority for the future of the project. The project charter outlines the objectives, scope, stakeholders, and overall approach, ensuring everyone involved is on the same page from the beginning.

As you will see from the Prince2 and Agile Project Charter documents, very little differs between them as the Charter is the authorisation document for the project and comprises of many of the same concepts

This particular project charter template is designed based on the PMBOK (Project Management Body of Knowledge) methodology, which emphasizes a standardized approach to project management processes. According to PMBOK, the development of a project charter involves inputs such as business documents, agreements, enterprise environmental factors, and organizational process assets. The primary output is the project charter itself, which formally initiates the project.

Project Charter: Comprehensive Technology Development Project

Project Background:

Our company is embarking on a new technology development project aimed at creating a cutting-edge software solution to enhance our product offerings. This project will leverage PMBOK methodologies to ensure standardized processes, clear roles, and effective control mechanisms, allowing us to adapt to changing requirements and deliver high-quality results efficiently.

Project Objectives:

• Develop a scalable and robust software application within the project timeline.
• Ensure the application meets the identified business requirements and user needs.
• Implement structured project management processes to incorporate feedback and improve the product continuously.
• Complete the project within the allocated budget of $500,000.

Scope:

• Requirement gathering and analysis.
• Design and architecture planning.
• Development of core functionalities.
• Integration with existing systems.
• Quality assurance and testing.
• Deployment and post-launch support.

Deliverables:

• Project charter document.
• Software requirements specification (SRS).
• Design and architecture documents.
• Developed software application.
• Test plans and test reports.
• User documentation and training materials.

Key Stakeholders:

Assumptions:

Constraints:

• Project budget is capped at $500,000.
• Project must be completed by December 31, 2024.
• Development must adhere to company security and compliance standards.

Risks:

• Due to the fact that we are dependent on third-party vendors, there is a risk that potential delays could occur, impacting the project timeline.
• Due to the fact that resource availability may vary, there is a risk that resource availability issues could arise, impacting the project timeline.
• Due to the fact that requirements may evolve during the project, there is a risk that scope creep could occur, impacting project outcomes and quality.

Approach:

The project will follow a PMBOK methodology, with detailed process groups including initiating, planning, executing, monitoring and controlling, and closing. Regular reviews, risk management processes, and communication plans will be conducted to ensure structured progress and timely delivery of project milestones. The project team will use collaboration tools like MS Project and SharePoint to manage tasks, track progress, and document project activities.

Approval:

This project charter has been reviewed and approved by the project sponsor and key stakeholders.