Question

Create a project charter for opening a Target store in Canada. Include the purpose of the project, any assumptions/constraints, scope description, and any milestones the project would incur.

Answer 1

Project Charter for opening a Target store in Canada:

The project charter is a document issued by the project initiator or the sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.

Here the project is: Opening a Target Store in Canada.

Below is the sample Project Charter:

1. Purpose of a project charter:

(1) To get authorization of starting the project

• Stakeholders are shown what the project’s outcomes can be, what risks or constraints it could face, and how much they will need to invest in the project. This gathered information can help them to authorize the projects and rank them accordingly.

(2) Show the stakeholders how you will distribute their budget and resources

• If you create a project charter, it is your perfect chance to identify the main stakeholders and find out their needs and problems. Based on these, you will estimate the costs of the project and name the resources you will most likely need.

(3) Use it as a reference document during project development

• You will likely to use the project charter throughout all project management phases. It is a good starting point for managing the project’s scope as you have already outlined its basics.

2. Project Risks, Assumptions, Constraints, and Dependencies

• The risk is any event, factor, task, action, or situation that negatively affects a project’s evolution, timeline, costs, resources, goals, and results. A risk that is not controlled nor removed on time can severely damage a project, even end it altogether. For instance conflicts between stakeholders, inadequate team training, system outages, late suppliers, etc.
• But not all risks are bad. Positive risks are kind of risk type which can leave a beneficial mark on a project and even help you reach your project goals. Best way to understand the positive risks is to consider them as being too much of a good thing. For an example, getting more orders than you can deliver with your current resources, receiving so many website visitors that the website temporarily crashes, or getting too many interview requests after a product launch that you just can’t physically attend.
• Assumptions are the statements and situations linked to the project’s progress and you assume that all are true, without getting any solid proof yet. You may expect that a new technology will be available on time, outsourced work will be cheaper during the next two months, all stakeholders will attend your last meeting, and so on.
• Constraints prescribe your limits in terms of costs, time, quality, risk, scope, and resources. Having a constraint actually means that, you have to schedule and execute work by keeping limits in mind. For an example you must finish 20% of all tasks within the first week or only one designer is available for a project when you would really need at least two.
• Dependencies describe all the elements (projects and other operations) that actually influence a project’s schedule. These dependencies can be a part of your risk management plan as well if they pose a threat to the project’s success. Some examples include a project’s start date depends on a previous project’s completion, a partnership influences the existence of a project, a deliverable from a previous project is needed in order to start this project, and more.
• Project dependencies can also refer to the relationship between a project’s tasks. By establishing these will show the right sequence in which you must complete them and if a task depends on any resource whatsoever. These dependencies, however, will be mentioned when you are planning your project, and not in the charter.

3. Project Scope

• This part refers to the project’s limits, what’s fine to work on, and what you should avoid for opening a Target Store. Project scope defines clear guidelines on what your team is allowed or not to do in order to finish a project.

4. Project Milestones

• Your milestones contain not only your most important events but also the date when your project starts and when you should complete it means when your Target Store will be operational.
• If you miss a deadline is not something to worry too much about as long as you have clearly stated this possibility in the project charter. Project delays are normal. It means that these milestones may not be your final dates. Just need to make sure they are justified.