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requires more time to complete, as it involves more and any other parties involved in the project. 5.

tasks and deliverables. o If time is limited, the scope Resource Allocation and Budget Approval • The
may need to be reduced to meet the deadline, leading charter typically includes a high-level budget,
to fewer deliverables or less complexity. Managing resource requirements, and constraints. This ensures
the Triple Constraints Project managers must that resources (financial, human, or material) are
constantly monitor and manage the Triple Constraints allocated and provides a rough estimation of costs for
to deliver a project successfully. • If the scope is fixed, the project. 6. Risk Identification and Assumptions • A
the manager might have to either extend the timeline Project Charter often highlights major project risks
or increase the budget to ensure the deliverables are and assumptions, providing the project team with
completed at the desired level of quality. • If the early awareness of potential challenges. 7.
scope of the festival increases (e.g., adding more food Establishing Project Boundaries and Deliverables •
stalls or events), more time and resources will be The charter clearly identifies the deliverables that the
required, thereby impacting the time and cost of the project is expected to produce. • Budget and
event. Resource Confusion: Without the charter, resources
8) “As per project management without a charter may not be properly allocated or justified, leading to
there is no project.” Elaborate the statement and potential underfunding or resource shortages. •
highlight the importance of charter. The statement Scope Creep: Without a clearly defined scope in the
"As per project management, without a charter, there charter, the project is more susceptible to scope
is no project" emphasizes the critical role that a creep, which leads to increased costs, delays, and
Project Charter plays in the initiation and success of a confusion about project goals. • Authority Issues: The
project. The Project Charter is the foundational project manager may lack the formal authority to
document that formally authorizes the existence of a make decisions, and stakeholders might not take the
project and provides the project manager with the project seriously, hindering progress.
authority to allocate resources, define project 9) Explain the project management process group.
objectives, and commence work. Without a charter, a The Project Management Process Groups are a set of
project lacks formal recognition and guidance, which interrelated actions and processes that are followed
can lead to confusion, lack of alignment, and potential to effectively manage a project. These process groups
failure. Importance of Project Charter A Project are established by the Project Management Institute
Charter is an essential document for the following (PMI) and are an essential part of the PMBOK (Project
reasons: 1. Formal Authorization of the Project • The Management Body of Knowledge) framework. They
Project Charter is the formal document that help in organizing and guiding project activities from
authorizes the project to begin. It acts as a "contract" initiation to closure. There are five process groups in
between the project sponsor (or client) and the project management: 1. Initiating Process Group This
project manager, granting the project manager the process group involves the processes required to
authority to allocate resources, make decisions, and define a new project or a new phase of an existing
proceed with project activities. 2. Clear Definition of project. It is the first step in the project management
Project Scope, Objectives, and Deliverables • The lifecycle, where the need for the project is identified
charter helps define the scope of the project—what is and authorization is obtained to begin the project. Key
and isn’t included. It outlines the project objectives, Activities: • Develop Project Charter: The project
major deliverables, and the project's high-level goals. charter is created, which formally authorizes the
3. Alignment with Organizational Goals and Strategy • project, defines high-level goals, and establishes the
A Project Charter aligns the project with the project manager's authority. • Identify Stakeholders:
organization’s overall strategy and goals. It ensures Identifying and analyzing stakeholders is critical to
that the project contributes to the broader vision and understanding their needs, expectations, and how to
objectives of the organization. 4. Establishes effectively communicate with them throughout the
Stakeholder Roles and Responsibilities • The Project project. Example: In a construction project, the
Charter identifies the key stakeholders, including the initiating process group will involve getting approval
project sponsor, project manager, team members, from the client and other key stakeholders to start the
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