What is a project charter? Describe different components of project charter? What are the various elements and steps of project planning? Briefly mention about various project planning tools.
Please answer in more than 400 words, if possible.
Answer:
Project charter: Project charter is the first piece of information on the project which will explain the project objective, project scope, project reason, budget, resources and benefits from the project to the approval team so that they can review and approve for project start.
Different key components of project charter are as below
Project charter is defined as the initial business case prepared for the project on the given subject which states the key business objective that are going to achieve in this project. The project charter explains the key reason for the need of this new project for the business. The project charter will explain the background environment around the need and importance of this project for the business. The project charter will state the key benefits the business is going get from the successful completion of this project. The project charter will help to state the scope of this project and what is the deliverable for the project. The project charter will also state the tentative team members who will be supporting this project. This project charter will also state the timeline and budget needed for the project execution.
Project Planning: Project planning is nothing but the planning execution of the project work with respect to the project budget and project resources availability meeting the customer expectation. The project planning will have detail project activities along with their individual target lead time with sequencing so that project can be optimized with adequate sequencing of the activities based on their order of execution.
Project Planning Elements are as below
Steps of project planning are as below
Various key project planning tools are as below
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