Process report topic identify project charter and stakeholders

HO CHI MINH CITY UNIVERSITY OF ECONOMICS AND FINANCE UE UNIVERSITY OF ECONOMICS & FINANCE PROCESS REPORT TOPIC: IDENTIFY PROJECT CHARTER AND STAKEHOLDERS Course Title: E-Commerce

HO CHI MINH CITY UNIVERSITY OF ECONOMICS AND FINANCE

UE

UNIVERSITY OF ECONOMICS & FINANCE

PROCESS REPORT

TOPIC: IDENTIFY PROJECT CHARTER AND

STAKEHOLDERS

Course Title: E-Commerce Project Management

Course code: EBUII22E Class: AO2E Lecturer: Ms Nguyen Phuong Lien

Ho Chi Minh City, 27 February, 2024

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Table of contents

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I WHAT IS A PROJECT CHARTER:

A project charter is a formal document delineating the project's purpose, scope, stakeholders,

objectives, and comprehensive plan This document should guide all subsequent decisions

and actions

Essentially, a project charter is like a project's roadmap It communicates what the project is

about, who's involved, and how it will be done It's the go-to guide for all project decisions,

helping keep the project on track and aligned with its orginal goals

Il WHAT IS A PROJECT CHARTER IN E-COMMERCE PROJECT

MANAGEMENT

Imagine you're building a website to sell stuff online Before you start digging in, you need a

plan, right? That's where a project charter comes in It's like a blueprint for your project,

outlining the "what," "why," "who," and "when" of everything Think of it as a clear, concise

document that:

Defines the boundaries: What are you selling? What features will your website have? What

won't it have?

Sets the goals: What do you want to achieve with this website? Increase sales? Attract new

customers?

Gathers the crew: Who's involved in making this happen? Designers, developers, marketers,

and maybe even you!

Sets the timeline: When will each part of the project be done? Think of it like a roadmap to

your launch date

Count the pennies: How much will this all cost? Budget wisely!

Lists the goodies: What are the key things you need to deliver? A functioning website, happy

customers, and maybe even a trophy for your shelf!

The project charter is usually written early on, like packing your backpack before a big trip It

helps everyone involved understand the project, get on the same page, and agree to work

together to make it a success

In project management, a project charter is the foundation of a successful project, offering

clarity and direction to the team and ensuring everyone is on the same page

When starting a new project, it’s essential to have a clear plan in place to ensure success

That’s where a project charter comes in

As a project timeline reference document, the project charter is there to help you navigate

issues that arise proactively

There are 5 perspectives that we have to pay attention to:

Specific:

Is the detail in the information sufficient to pinpoint problems or opportunities? Is the

objective sufficiently detailed to measure real-world problems and opportunities?

Measurable:

Can a quantitative or qualitative attribute be applied to create a metric?

Actionable:

Can the information be used to improve performance? If the objective doesn’t change

behavior in staff to help them improve performance

Relevant:

Can the information be applied to the specific problem faced by the marketer?

Time-bound:

Can objectives be set for different periods as the targets to review against?

IV THE PROJECT CHARTER OVERVIEW

1 Project Objectives and Constraints

First, outline what your main objectives are for the project and identify potential constraints

or obstacles that could prevent you from achieving them

When considering constraints, think about your available budget, team member capacity, and

other factors such as stakeholder requirements

2 Timeline

Determine the estimated start and end dates for the project, along with any milestones you

should hit along the way You can then translate this information to a dynamic timeline

model in your project management software to track progress in real-time

3 Key stakeholders

Identify and list every stakeholder with a vested interest in the project and its success Detail

what their role is about the project, what you might need from them, and how you can contact

them

4, Risks identified

Create a plan for mitigating or avoiding risks that pose a threat to the completion of your

project First, identify what they might be, then figure out what the best course of action

would be for each

5 Benefits of the project

Describe the expected advantages or improvements that the project will bring to the

organization or stakeholders Benefits can be tangible, such as cost reductions or revenue

increases, or intangible, like improved customer satisfaction or brand reputation Articulating

the benefits helps justify the project's investment and aligns the project with organizational

goals

6 General overview of the budget

Provides an initial estimate of the project's financial requirements, including both capital and

operational expenses This overview should outline major cost components, such as labor,

materials, technology, and any other significant expenses This can help you avoid going over

budget and also provide stakeholders with a summary of the project finances

V HOW TO CREATE A PROJECT CHARTER:

There are four simple steps to creating a project charter

Step 1: Understand key project goals and objectives

Identify the project vision and determine the scope of the project This step is crucial to

creating a project charter as it sets the tone for the rest of the project by establishing what is

to be accomplished and what constraints or limitations exist within the project scope

Step 2: Define project organization

List all of the essential roles for the project, including customers, stakeholders, and the day-

to-day project team The project charter should clearly outline the responsibilities of each

team member, as this helps to ensure everyone involved in the project is aware of their

respective roles and can work together effectively

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Step 3: Create an implementation plan

Outline major milestones, dependencies, and the timeline for the entire team and

stakeholders The implementation plan is a critical component of the project charter, as it

provides a roadmap for how the project will be executed, including key deliverables This

allows the project team to stay on track and ensure that the project schedule is met

Step 4: List potential risk and problem areas

By identifying potential problem areas in advance, the team can develop contingency plans to

mitigate risks and address challenges as they arise, ultimately helping to keep the project on

track

VI PROJECT STAKEHOLDERS:

1 Stakeholders

Stakeholders are individuals, groups, or organizations that have an interest or concern in a

particular project, initiative, organization, or system They can be both internal and external

to the project they are associated with

2 How to do a Stakeholders Analysis

2.1 Identify your Stakeholders

Identify who your stakeholders are To do this, draw on your project charter and any other

project plans and documentation to compile a full list of your project stakeholders, both

internal and external

2.2 Prioritize your Stakeholders

- Prioritizing your stakeholders is important because it helps you understand where to invest

your resources

- Mendelow’s Matrix is a useful tool for prioritizing stakeholders’ needs

MENDELOW'S MATRIX

PRIORITY INFORMED

*

aK

¢ Key players: strategy must at least be acceptable to them These stakeholders may even participate in decision-making

¢ Keep satisfied: these stakeholders must be treated with care Will often be passive, but they are capable of moving into key players

¢« Keep informed: these stakeholders do not have a great ability to influence strategy, but their views can affect more powerful stakeholders

¢ Low priority: minimal effort is needed here

2.3 Understand your Stakeholders

To effectively manage stakeholders and ensure the success of a project, it's crucial to understand their expectations, concerns, and how they define success, focusing on:

¢ Their definition of project success

« Any concerns or reservations they have about the project

« Their specific expectations for the project

« The impact of both positive and negative project outcomes on them

¢ Potential conflicts of interest with other stakeholders

3 Stakeholders Management process

3.1 Stakeholder Management

Stakeholder management is the process by which you organize, monitor, and improve your relationships with your stakeholders

It involves systematically identifying stakeholders; analyzing their needs and expectations; and planning and implementing various tasks to engage with them A good stakeholder management process will be the means through which you can coordinate your interactions and assess the status and quality of your relationship with various stakeholders

3.2 Benefits of managing your Stakeholders:

¢ Build mutual understanding

¢ Strengthen relationships

¢ Get more input and insights

« Reduce risks, remove roadblocks, and reduce delays

« Achieve more sustainable outcomes

¢ Improve your reputation

« Gain a social license to operate

¢ Fulfill legal obligations

3.3 Process to Managing Stakeholders

The steps you'll need to follow will depend on the scale and complexity of what you're doing But for most projects, youll need to work through the following stakeholder management process

3.3.1 Stakeholder Identification

- In stakeholder identification, it's crucial to recognize all individuals, groups, or entities that have an interest, influence, or impact on the project or organization Start by brainstorming who your stakeholders are Prepare a list that includes any groups or individuals who might

be impacted by or have an impact on the project; or who you have a statutory requirement to consult

- Understanding and analyzing stakeholders’ goals is a critical aspect of stakeholder identification as it helps in recognizing the diverse interests, motivations, and expectations of stakeholders involved in a project or organization

- Business value articulation to identified stakeholders is essential for ensuring alignment between the project or initiative and the interests, needs, and expectations of stakeholders

3.3.2 Stakeholder Roles & Responsibilities

- A governance model is a framework that outlines an organization's general leadership accountabilities and describes how leaders and members interact with other parties

- Communication plans are what information should be communicated, who should receive that information when that information should be delivered, where (e.g., email, social media, mail) communication will be shared, and how those communications will be tracked and analyzed

- Steering committees are comprised of various people, including board officers, senior stakeholders, experts, executives, department employees, and client representatives Members

of steering committees meet and collaborate to define, prioritize, and control projects

- Program Risk Management covers all activities to identify (risk identification), mitigate (risk mitigation), and avoid (risk avoidance) negative situations that could adversely affect the work of teams Every project, program, and business initiative carries risks

- Driving program adoption within the context of stakeholder management involves strategic efforts to ensure that all stakeholders are not only aware of and understand the program but are also committed to its success Stakeholders can include internal parties such

as employees, management, and shareholders, as well as external ones like customers, suppliers, partners, regulators, and the broader community In stakeholder management, driving program adoption is crucial for achieving project goals, organizational changes, or the successful implementation of new policies or systems

- Defining the program vision, goals, metrics, and roadmap is essential for aligning stakeholders’ expectations, guiding the program's direction, and measuring its success

3.3.3 Continuous Stakeholder Engagement

- Communication management is a critical component of continuous stakeholder engagement, requiring strategic planning and execution to ensure effective information exchange, relationship building, and alignment of expectations throughout the life cycle of a project or program

- Escalation management is a critical aspect of continuous stakeholder engagement, particularly in complex projects or programs where issues may arise that exceed the scope of regular management processes Effective escalation management ensures that problems are addressed promptly and efficiently, minimizing negative impacts and maintaining stakeholder trust and confidence

- Change request management is a crucial aspect of continuous stakeholder engagement, particularly in dynamic projects or programs where adjustments to scope, requirements, or deliverables may be necessary over time Effective change request management ensures that stakeholders are involved in the decision-making process and that changes are implemented smoothly while minimizing disruptions

- Timely reports and notifications are essential components of continuous stakeholder engagement, ensuring that stakeholders are kept informed about project progress, milestones, issues, and decisions on time

- Project plans and status reviews in continuous stakeholder engagement play a crucial role

in keeping stakeholders informed about the progress, performance, and direction of the project

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