Explanation/Reference:
Explanation:
4.1.3.1 Project Charter
The project charter is the document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities. It documents the business needs, assumptions, constraints, the understanding of the customer's needs and high-level requirements, and the new product, service, or result that it is intended to satisfy, such as:
Project purpose or justification,
Measurable project objectives and related success criteria,
High-level requirements,
Assumptions and constraints,
High-level project description and boundaries,
High-level risks,
Summary milestone schedule,
Summary budget,
Stakeholder list,
Project approval requirements (i.e., what constitutes project success, who decides the project is
successful, and who signs off on the project),
Assigned project manager, responsibility, and authority level, and
Name and authority of the sponsor or other person(s) authorizing the project charter.
Process: 11.1 Plan Risk Management
Definition: The process of defining how to conduct risk management activities for a project.
Key Benefit: The key benefit of this process is it ensures that the degree, type, and visibility of risk management are commensurate with both the risks and the importance of the project to the organization.
The risk management plan is vital to communicate with and obtain agreement and support from all stakeholders to ensure the risk management process is supported and performed effectively over the project life cycle.
Inputs
1. Project management plan
2. Project charter
3. Stakeholder register
4. Enterprise environmental factors
5. Organizational process assets
Tools & Techniques
1. Analytical techniques
2. Expert judgment
3. Meetings
Outputs
1. Risk management plan
