Develop Project Charter

The process of developing a document that formally authorize a project or a phase and documenting initial requirements that satisfy the stakeholder's needs and expectations. The initiator's (sponsor) signature on the Charter authorizes the project. The approved Project Charter formally initiates the project.

Project Charter's key aspects are:
► Purpose and project objectives
► Project sponsor or authority
► Project description and requirements
► Success Criteria
► Acceptance Criteria
► Identified Risks
► Initial WBS
► Preliminary Milestones and Summary Budget
► Project Manager Assignment(with responsibility and authority level)

The essential elements of the SOW:
► WHAT is to be done (Product Scope Description),
► The business REASON for doing it (Business Need), and
► HOW the project supports the organization's strategy (Strategic Plan)
► For Internal Projects, the Project Initiator or Sponsor provides it. For External Projects, the Customerprovides it as part of a bid document.

Project Selection Methods:
1- Benefit Measurement Methods:
a. Economic Models, b. Scoringn Models, c. Comparative Approach, d. Benefit Contribution, and e. Murder Board
2- Constrained OptimizationMethods:
a. Linear, b. Non-Linear, c. Dynamic, d. Integer, and e.Multi-objective algorithms

Develop Project Management Plan: The process of documenting the actions necessary to define, prepare, integrate, and coordinate all subsidiary plans. The Project Plan is "a formal, approved document that defines HOW the project is executed, monitored and controlled, and closed.

Direct and Manage Project Execution: The process of performing the work defined in the project management plan to achieve the project's objectives. It occurs any time; we are following the project management plan to create project deliverables. Most of the project resources and costs are expended in this process.
Monitor and Control Project Work: The process of tracking, reviewing, and regulating the progress to meet the performance objectives defined in the project management plan. Any necessary changes in the work or the plan are identified and made in his process.

Close Project or Phase: The process of finalizing all activities across all of the Project Management Process Groups to formally complete the project or phase. It is all about shutting the project down properly. This includes creating the necessary documentation and archives, capturing the lessons learned, ensuring that the contract is properly closed,and updating all organizational process assets.

Change Control System: It is also a collection of formal documented procedures that define HOW project change requests are submitted, validated, recorded, approved or rejected, communicated, and worked within the project. In many areas the Change Control System is a subset of the Configuration Management System.
Configuration control is focused on the specification of both the deliverables and the processes while change control is focused on identifying, documenting and controlling changes to the project and the product baselines.