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The three main uses of the project charter are: To authorize the project - using a comparable format, projects can be ranked and authorized by Return on Investment.; Serves as the primary sales document for the project - ranking stakeholders have a 1-2 page summary to distribute, present, and keep handy for fending off other project or operations runs at project resources.
[2] [3] The entire project should be objectively appraised for the same feasibility study should be taken in its principal dimensions, technical, economic, financial, social and so far to establish the justification of the project or project appraisal is the process of judging whether the project is profitable or not to client or it is a ...
The justification is still valid, The project will deliver the solution to the business need. The result of a review may be the termination or amendment of the project. [27] The business case may also be subject to amendment if the review concludes that the business need has abated or changed, [2] this will have a knock on effect [28] on the ...
The project initiation documentation is a PRINCE2 [1] term representing the plan of approach in project management. It is assembled from a series of other documents, including the business case, the terms of reference, the communication plan, the risk register, the project tolerances, the project plan, and any specific project controls or inspections as part of a departmental quality plan or ...
The justification for the 2017 update was the evolution in practical business practices and feedback from PRINCE2 practitioners in the actual project environment. [9] More recently, in 2023 AXELOS launched PRINCE2 7 - the 7th edition - which is described below.
A phase-gate process (also referred to as a waterfall process) is a project management technique in which an initiative or project (e.g., new product development, software development, process improvement, business change) is divided into distinct stages or phases, separated by decision points (known as gates).
Project determinants are those that refer to the original commitments and decisions made at a project's beginning. This includes general project characteristics and initial financial costs. [ 10 ] Among them, decision risk, opportunity cost information, and information acquisition have been found to have negative relationships with escalation ...
Key project management responsibilities include creating clear and attainable project objectives, building the project requirements, and managing the triple constraint (now including more constraints and calling it competing constraints) for projects, which is cost, time, quality and scope for the first three but about three additional ones in ...