You can pick any topic you like that could use a project charter. I'm struggling to find one
Project Management & Financial Analysis PR3150 PR3150 Term Project Due Date: Refer to D2L Dropbox 10% of Course Mark Group Size: 2-3 Part A – The Project Charter The project charter forms the basis for approval or the ‘go ahead’ for a project. A well written and detailed charter is required for a project to proceed. Chose a project of your choice and complete the charter. Your project choice will continue to be included in the remaining parts of this term project. Your fictious project could be based on a commercial building such as the MUN Science Center, a Hydroelectric generating facility such as Muskrat Falls, a GBS such as WWR in Argentia, or you can focus on your Capstone project. If there is a project that interests you more than listed here, use it. The project charter should be a formal document - but short. Limited to two pages (max) double spaced which should include: • Introduction • Business needs: what problem are you trying to solve for the business, what is the objective and benefit of the project. (5 pts) • Requirements of the project - High level requirements to meet the objectives of the business needs, resources. (10 pts) • Shareholders to be included in your project. (5 pts) • Summary schedule - High level, major deliverables, milestones etc., make time estimates (10 pts) • Assumptions and constraints - what assumptions have you made, and what constraints have been placed on the project or process that will limit the execution. Include risks here. (10 pts) • Business case and general budget (fictious estimates), including return on investment. (10 pts) Remember, the charter is a high-level document meant to identify the primary reason for executing the project – what problem are you looking to solve and to bring all stakeholders into agreement on the objective. (See additional Charter reference material at the end of this document) Project Management & Financial Analysis PR3150 PART B – WBS and Gantt Chart Introduction Continuing with the project detailed in Part A (Project Charter), you will create a WBS in MS Word, Excel or Project. After considering and assigning time estimates and relationship dependencies for each activity and task, then create a schedule in the form of a Gantt Chart. 1. WBS : Create at least 10 activities/tasks (25 pts) Create a Work Breakdown structure with a least 10 activates and tasks (in total). Remember your WBS should include all core components of your project, if it’s not in the WBS you shouldn’t do it. The WBS can be created in any software application (Excel, Word, MS Project etc.) you want but make sure to differentiate between actives (primary functions) and tasks (sub functions). There are various WBS formats that can be used, as outlined in the course notes. • Print your WBS as a pdf and save to the dropbox as part of your submission: 2. Generate a Gantt Chart of your Project (25 pts) Generate a Gantt chart of your project schedule. The Gantt chart should contain all the activities listed in your WBS. • The activity duration should match the start and end date of the activity or task. A custom work schedule can be set up within MS Project – however, for this exercise you do not need to do this. This is an exercise in creating Gantt charts – make sure the schedule reflects the activities and tasks of the WBS with the assigned times. Keep it simple. • Link your activities (create dependencies): Create activity relationships so that primary activities are linked to one another. • Print your Gantt chart as a pdf and save to the dropbox as part of your submission: Project Management & Financial Analysis PR3150 Additional Reference Material for the Project Charter What Is a Project Charter in Project Management? A project charter is a formal, typically short document that describes your project in its entirety — including what the objectives are, how it will be carried out, and who the stakeholders are. It is a crucial ingredient in planning the project because it is used throughout the project lifecycle. One of the key parts of any project charter is to establish the authority assigned to the project manager. Other purposes of the document are as follows. What are the reasons for undertaking the project? Note them so everyone is clear about why they are doing what they are doing. What are the objectives and constraints of the project? This is the what part of why you’re undertaking the project. If you don’t have a clear target your project is going to miss the mark. What are the directions concerning the solution to any constraints listed above? You want to have at least an outline of how you’re going to deal with project constraints. Who are the main stakeholders? It’s always crucial to note the stakeholders in any project for they’re the ones who you’ll be reporting to and, in a sense, managing their expectations. What are the in-scope and out-of-scope items? Scope is the boundaries of your project, such as its start date and when it concludes. So, what are the in-scope items, such as those parts of the project process as opposed to tasks or actions that lay outside the step-by-step process of the project? What are the potential risks in the project? Identify all risks that could arise in the project so you’re not taken by surprise. What are the project benefits? A good way to sell the project is to have a sense of what good the project will bring to sponsors and stakeholders. Figure out what those benefits are and list them here. What are the project costs? While you’ll go into greater detail when you create the project budget, here is where you want to get a ballpark figure on what you expect the budget for the project to be and who will have spending authority.