Payment Mechanisms in International Trade
Setting up International Trade Mechanisms involves inter disciplinary processes including Finance, Logistics, Taxation and Supply Chain disciplines. Every Business Manager would need to know the nuances of the trade even though he may or may not be involved in the micro management of the processes. Any Import or Export entails commercial transaction and payment. When […]
Implementation of ERP System – Reengineering vs Customization, Big Bang or Phased Implementation
Implementation of ERP System, is a complex exercise, involving many process alterations and several legacy issues. Organizations need a implementation strategy encompassing both pre implementation and implementation stages. The fallout of a poor strategy is unpreparedness of employees, implementation not in conformity with wider business strategy, poor business process redesign and time and cost overrun. […]
What Caused the Global Economic Crisis ?
The previous article in the module introduced the global economic crisis with a brief overview of the causes. This article looks at the causes of the global economic crisis in depth. For starters, the global economic crisis carries a distinct “Made in the USA” tag which means that the origins of the crisis are to […]
How to Draw a Fishbone Diagram
Given the usefulness of the fishbone diagram, it is essential that every student of quality and six sigma know how to use it. To aid the students in learning, here is a step-by-step procedure of how a fishbone diagram must be drawn: Step 1 – List The Effect (Problem) to the Right: A fishbone diagram […]
Spare Parts Logistics
In a computer spare parts supply chain, usually the network consists of the country depot that stocks all the parts required to support the field. The number of parts in such depots run very high depending upon the volume of sales and can range from 15000 SKUs to 35000 SKUs, depending upon the model and […]
A Project charter is a 5 to 6 page document which collects all the information that has been developed in the previous steps and puts it in a central location.
The Project charter serves as the constitution which governs the working of the project and disputes if any that may arise during the execution of the project.
The project charter is the final deliverable document that is required at the end of the first step of the Define Phase.
This document serves as a proof of the activities that have been performed up to this stage and the agreement that has been reached amongst the members of the team, the stakeholders as well as the management.
This charter is constantly used to see whether the project is doing what it was expected to do, within the time frame it was expected to do, so on and so forth. At the end of the project the actual benefits are compared with the forecasted benefits to declare the project a success or a failure. The Project Charter plays a vital role in the control of the project.
A Project charter usually has 5 - 6 elements. They can be more or less depending upon the nature of the project and its requirements. However the usual elements of most Six Sigma project charters are as follows:
The Project Charter must be stored in a shared location and must be accessible to all at any time. This is because this document and its interpretation is critical to ensuring that the project progresses in the right direction.
However, the Project Charter is like the Bible of the Project. Modifications must not be allowed under normal circumstances. However. If material information needs to be included or corrected in the project charter, then it must be done after due diligence and everyone must be informed about the change. This will ensure that all the people working on the project have the exact same information all the time.
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