What to you understand by a project charter?

This is a document where it all begins. Project authorization is done on this document and a project would be initiated with the top level requirements listed in this document. Initial requirements as seen by stakeholders and the outcomes of the project also are listed in it. A project charter is a formal document that … Read more

Can you explain project life cycle?

A project has distinct phases when the range of activities required to carry out the project work differ. There is a distinct “start” phase, followed by an organizing and preparing phase. “Carrying out” is the actual execution part of the project. “Closing” phase makes sure the temporary activities related to the project are closed systematically. … Read more

What are organizational influences?

Every organization has a certain way of doing things, collective wisdom about how things can best be done, etc. and these influences the planning and execution processes. These influences need to be taken into account when estimating, planning for activities related to projects. These are often mentioned as organizational environmental factors. Organizational influences refer to … Read more

Who is a stakeholder?

Any person, organization or an entity whose interest is affected, positively or negatively, because of the project. The influence of stakeholders is an important issue to take into account in any planning and subsequently during execution of it as well. A stakeholder is any individual, group, or entity that is affected by or can affect … Read more

What do you think is the difference between projects, programs and a portfolio?

Projects are undertaken for a specific or a set of related purposes. A program is a set of projects managed in a coordinated manner to achieve different parts of an overall goal. For example the NASA lunar landing program had the development of the command module and the lunar landing modules as separate projects. A … Read more