1. A project charter is a formal document that authorizes the project, outlines its objectives, defines the key stakeholders, and assigns a project manager. It provides a high-level overview of the project scope, timeline, budget, and risks. As a project manager, your responsibilities based on the project charter include:
Defining and communicating project goals and objectives.
Ensuring alignment with organizational strategy.
Securing resources and approvals.
Managing stakeholder expectations.
Monitoring project risks and constraints.
Overseeing project execution and ensuring successful delivery.
2. A Work Breakdown Structure (WBS) is a hierarchical decomposition of the project into smaller, manageable components. It breaks down deliverables into tasks, making it easier to assign work and estimate time and costs.
Why WBS is necessary for project planning:
Provides a clear structure and organization for tasks.
Helps define scope and prevent scope creep.
Improves time and cost estimation.
Aids in resource allocation and task responsibility assignment.
Facilitates tracking and monitoring of project progress.
3. Key lessons from this unit may include:
The importance of a project charter in providing clear direction and authority.
How WBS enhances project planning by structuring tasks efficiently.
Techniques for identifying the critical path and managing project schedules.
The significance of float in ensuring project flexibility.
Effective communication and stakeholder management in project execution.
4. To identify the critical path and float, you can use:
Critical Path Method (CPM): Identifies the longest sequence of dependent tasks with zero slack.
Forward and Backward Pass Calculations: Determines early start, early finish, late start, and late finish for each task.
Gantt Charts: Visualizes task dependencies and durations.
Project Management Software (e.g., MS Project, Primavera): Automates critical path analysis and float calculations.
PERT (Program Evaluation and Review Technique): Estimates task durations based on optimistic, pessimistic, and most likely scenarios.