Question

What is the difference between a project charter and a project plan? At what phase(s) of the project life cycle is each done?

Answer 1

Project charter:

A project charter is a kind of documentation which is described by the managers of the project and this acts as a guideline for the team to understand the project in detail and achieve the goals and complete the desired tasks in timely basis. This helps in a long-term base for the project and lower the gaps. It supports leadership, support and commitment towards their project. It acts as a contact between stakeholders, project managers and the team.

Project plan:

A project plan is always adoptable when a project starts, project planning can be seen in both developing and developed countries. The principle to bring out this aspect is to make changes as required and complete the activities which are essential to be unique and not on repetitive state. A project plan tends to create a balance between the constraints occurred in the project and how to achieve the desired goals. It also provides time and cost estimates for a project as required. It always focuses on setting tasks and completing them in a given period and helps in taking timely decisions.

Difference between project charter and project plan:

• A project plan defines a plan to start a project where as project charter defines the details to understand the project and perform it as required.
• Project plan and project charter always tends to lower the gaps and maintain the relations.
• A project plan and project charter always support leadership, commitment towards work and to achieve desired goals.
• It helps to defines cost estimates and time taken for the project, which helps in taking decision making.

At what phases of the project life cycle is each done:

• Project plan is seen in first stage introduction in a product life cycle, which defines specific planning of a project to perform it as desired and achieve the goals.
• Project charter is seen is growth stage in a product life cycle, which desires to complete the tasks in timely basis and acts as a contract between stake holders and project managers.