Fundamentals of Project Management

Defining the Project

Using the South University Online Library or the Internet, research, select, and scope out any project of your choice.

The project you select must meet the following criteria:

• It must fit the definition of a project as described in the PMBOK® Guide glossary and text.

• It must be real or realistic.

• It should be large enough for a dedicated organizational commitment (preferably a capital investment) but not too large for one organization to accomplish (minimal outsourcing).

• It must fit into one of the "nonnumeric model" categories as described in the course textbook.

• It must be subject to evaluation through numeric models as described in the course textbook.

Based on your research and project selected, create a project charter as described in Section 4.1 of the PMBOK® Guide. The project charter should include the following:

• An outline of the information indicated in Section 4.1.

• All items indicated in the PMBOK® Guide for which at least some elemental information exists at this point.

• Highlights on how the project you selected meets the selection criteria listed earlier.

• A description of the major components of the strategic management process.

• An explanation of the role projects play in the strategic management process.

• How are projects linked to the strategic plan?

• An explanation of the impact of classifying projects as either compliance, strategic, or operations projects.

• An explanation as to why return on investment (ROI) should not be the sole metric used to choose projects.

• A discussion of the pros and cons of the checklist versus the weighted factor method of selecting projects.

Please provide your answers in a 3- to 4-page Microsoft Word document.