Why You Need A Project Charter To Deliver Success

If you’re a project manager or just managing a project, then one crucial document should be part of your toolkit: the Project Charter.

What is a project charter?  A project charter is an essential document for any successful project. It provides a clear statement of the project’s goals, scope, and objectives and serves as an agreement between all stakeholders on what needs to be accomplished.

What are the key elements found in a project charter?

• Project title: The project’s name should be clearly stated at the top of the document.
• Project background: This section should explain why the project is necessary and how it will benefit the organization.
• Project scope: It should define the boundaries of the project and what is included and excluded from the project.
• Project objectives: It should be specific, measurable, achievable, relevant, and time-bound (SMART).
• Project timeline: It should include the start and end dates of the project and any key milestones.
• Project budget: It should outline the estimated project cost, including any resources needed.
• Project stakeholders: The project charter should identify all stakeholders, including project sponsors, project team members, and external stakeholders.
• Risks and assumptions: The project charter should identify any potential risks and assumptions associated with the project.
• Project management approach: It should outline the methodology and processes used to manage the project.
• Project deliverables: It should be clearly defined, including any reports, products, or services that will be produced as a result of the project.

How does the project charter help you as the project manager deliver successful projects?

1. Helps determine the value of the project.

Is it worth starting it at all? How realistic are the goals of the project? Will there be enough demand for it? Are the resources enough?

2. Defines project objectives

The project charter outlines the goals of a project and clarifies what needs to be accomplished. Without a clear understanding of the objectives, it would be difficult to develop an effective plan and ensure that all stakeholders are on board with the project.

3. Saves time

The project charter should enable you to minimize the time that you might need to spend on negotiations and troubleshooting.

4. Can serve as a marketing instrument

If you distribute it outside your project team, it can double as a sales document that helps you to justify expenses and investment.

5. Inspires confidence and boosts team morale.

If your team realizes their work is well-structured and efficiently coordinated, they will be more motivated. Their performance will increase and they will make fewer mistakes. When professionals feel confident in what they do, it should become easier for them to meet the deadlines and allocate resources most reasonably.

6. Acts as a reference point

Since it helps clearly define project objectives and goals, the document can act as reference for future decisions made about the project. Also, incase mistakes or mishaps happen during the project one can go back and retrace their steps and see what solutions are viable.

7. Serves as a contract between the project manager and sponsor

It defines the roles and responsibilities of each party and outlines what will happen if the project is not completed on time or within budget. It also sets expectations for all stakeholders and ensures everyone is working towards the same goal. Additionally, the project manager is given authority to take actions on behalf of the sponsor.

Finally…..

Having a charter helps ensure the project is completed on time, within budget, and with minimal conflict. Attending Project Management certification classes raises the bar even further. It gives you the skills necessary to plan, coordinate, implement, and make projects successful in any field.

You are one step closer to being a successful project manager, sign up for classes today!