Answer questions Assignment Example | Topics and Well Written Essays - 2500 words - 1

Answer questions - Assignment Example Starting a project requires definition of what the project is required to accomplish. A project starts with an idea them the vision that must be associated with the vision of the business. Project charter acts as the starting point where it established the foundation of the project. This must include the business needs and the deliverables to be executed. All the stipulations must be tied up to roles and responsibilities of the project development team. Human and material resources must be well defined (Goldratt, 1997). Often, an organization must put more efforts in estimation of the cost of the project in the chartering stage. The risks affecting the projects are also considered and their effects to the duration and cost of the project evaluated. The benefits and cost estimates must be supported using consistent approaches which provide realistic estimates for both costs and benefits. The establishment of the vision of a project in accordance with the project charter facilitates the success of the project. The project charter must corresponds to the business case put across to demonstrate that the project is viable and will assist in achieving the financial, employee and customer goals. The project chartering phase allows for establishment of an effective process that identifies and resolves various issues and actions that arise during the project development process. The chartering process forms the first step in execution of Lean project (Leach & Lawrence, 2005). Getting the sponsors and management to sign is normally difficult. Only one person is required in championing the project and passing it around. A good charter must be in a position to offer a written documentation that efficiently approves the launch and the requests of the efforts in project planning. Furthermore, the documentation of the project charter allows for collaboration of the major stakeholders and improves the deliverables. This must fairly represent the views of major