The Impact of COVID-19 on Start-ups
Startups had become an important part of the modern economic system. Most of the companies which have achieved billion-dollar valuations in the past few years have come out of the startup ecosystem. Companies like Uber, Twitter, Facebook, and Airbnb are testimony to this fact. The startup system has often been viewed as a risky place. […]
Canada’s Protectionist Economic Policies
Canadian Prime Minister Justin Trudeau is often seen criticizing American President Donald Trump for his protectionist trade policies. Trudeau has openly criticized the Americans and Trump in particular for breaking up the NAFTA and for pulling out of the Paris Accord. Trudeau also wants to project Canada’s image as a country wherein immigrants are welcome. […]
Identify the Vital Inputs in Six Sigma Project
The list derived from the detailed process map needs to be shortlisted. This can be done in multiple ways. The different tools that are commonly used in six sigma projects to meet the purpose have been written down. They are as follows: Cause Effect Matrix: The cause and effect matrix takes the list of inputs […]
Facility Layout – Objectives, Design and Factors Affecting the Layout
Introduction For an organization to have an effective and efficient manufacturing unit, it is important that special attention is given to facility layout. Facility layout is an arrangement of different aspects of manufacturing in an appropriate manner as to achieve desired production results. Facility layout considers available space, final product, safety of users and facility […]
Need for Inventory Management – Why do Companies hold Inventories
Inventory is a necessary evil that every organization would have to maintain for various purposes. Optimum inventory management is the goal of every inventory planner. Over inventory or under inventory both cause financial impact and health of the business as well as effect business opportunities. Inventory holding is resorted to by organizations as hedge against […]
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.
Your email address will not be published. Required fields are marked *
