Lead Student Assignment - Essay Example

The team then identifies the feasibility of the project. Next, project is defined and enters its planning phase. The team prioritizes its tasks, calculates a budget, drafts a schedule and determines the required resources. After that, project is launched or executed, which involves distribution of resources and allocation of responsibilities for the team members. When the project is up and running the manager performs project performance and control by comparing the status and progress of the project with the actual plan.

Schedules and the budget may need re-adjustment during this phase. Finally, after the project accomplishes its objectives and the client becomes satisfied, the project is closed with an evaluation being the last step. A project charter in project management can also be referred to as a project statement or project definition. It constitutes of the project’s scope, the participants and its objectives (Carreira & Bill 45). The project charter gives a preliminary delineation of the responsibilities and roles, identifies the key stakeholders, outlines objectives of the project and defines the PM’s authority.

Its main role is to serve as an authority reference for the project’s future. Taking the example of an organization that wants to create a framework for employee recognition, a project charter would first include the identification of the project, i.e. the name of the project, its description, sponsor, project manager and the resources of the project team. The second part involves the business reasons for the project, such as improve the organization’s ability to recruit candidates of high quality, complementation of HR values, complementation and building upon activities already in existence.

The third part involves the purpose, in this case implement and develop activities aimed at corporate