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PROGRAM CODE: MAD 115-MAD2205SA COURSE CODE: MAD 115 COURSE TITLE: Project Management ASSIGNMENT-2 Name of topic: Project Charter Purpose of this Assignment: In this assignment you will create your dream home's project charter. A project charter is a 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. Note: This is an individual assignment. "Dream Home Charter" Background One of the objectives of this assignment is for you demonstrate appropriate information content that would be provided in a project charter. (Note: You are not expected to be an expert in house design, and you will not be assessed on the accuracy of the information provided - only on the appropriateness of the information and how the information is presented.) Dream Home Details . For this project, you take on the role of the homeowners creating a project charter to define your dream home. The bank has approved you for a $300,000 loan to build your dream home on lakefront (or riverfront) property (in the town of your choice). The work on the project can be divided up into several main areas: . 1) Landscaping (excavation, foundation, grading, driveway); 2) House Construction (frame, roof, siding); . 3) Inside Work (floors, ceilings); . 4) Infrastructure (electrical, plumbing and mechanical); . 5) Management (management activities); and 6) Other (inspections and milestones). With this minimal, high-level information, you can now begin the journey to your dream home by defining the project charter. Project Charter Writing Guide This writing guide provides critical background information for the project charter assignment. What follows are some general guidelines and then specific section-by-section guidance on how to approach the assignment. Follow the template: When creating your assignment, be sure to attempt each section, as grades have been allocated to each section and grades cannot be awarded for information that is not called for in the template. Third-Party Material: While research for this project is encouraged, you need to both cite and reference any third-party material that you use in your assignment. You are free to use any standard citing and reference methodology. Identification: Please ensure that your name and the course title are clearly indicated on all assignment submissions What follows is a section-by-section guide as to the type of information that needs to appear in your assignment. 1. Title Page: You can have fun with your title page (illustrations and graphics), but at a minimum, the title page must have the following information on it: Your name and student ID The course name The assignment name The date submitted, and Instructor's name 2. Table of Contents: The Table of Contents must be generated using your word processor's built-in "Table of Contents' generation feature (found within the [Reference] Tab of WORD. If you have not worked with the Table of Contents feature in the past, then this is a good chance to learn some of Microsoft Word's additional features. 3. Project Background: In this section you can provide relevant project related information that would have been previously published and used as an input to the project charter. This information has not been provided for you; instead you can make up' appropriate background information. Examples of the types of information that you can present in this section include: Business need: Why is this project needed? Strategic Plan: You can include information on how this project aligns with the organization's strategic plan- in this case, your strategic plan (as it is your dream house). 4. Project Purpose (Goal): Assume that the reader is unfamiliar with this project and provide a short (one or two sentences), concise statement as to what the project's purpose for goal) is. In this section you will be evaluated on your understanding of the term "project purpose and on how well you can practically demonstrate the use of that term as it relates to this project. 5. Project Objectives: In this section, you should state what your dream house project's objectives are. You should demonstrate between 2 and 3 objectives for this project. For this section you will be evaluated on your understanding of the term "project goal" and on how well you can practically demonstrate the use of that term. 6. Project Exclusions (Out-Of-Scope work): Identify examples of work that would be commonly associated with a project of this nature but will not be completed as part of the project. In this section, you should list several out-of- scope items to demonstrate your understanding of this concept 7. High-Level Requirements are "conditions that are required to be present in a product, service, or result to satisfy a contract"-in this section you are to provide examples of how the customer would explain what they want for their dream home. Essentially, give examples of how a customer might describe what features, style or elements they would like in their dream home (keep in mind your project scope, and restrict your requirem to only those that are relevant to the project scope). 8. High-Level Constraints: Provide examples of 2 to 3 external constraints that would have a direct impact on the project planning. Also provide a very brief description of their impact. (Note: The project's budget and schedule would be considered internal constraints and cannot be used in this section.) 9. High-Level Risks: "Project risks really refers to uncertainty on the project. Uncertainty can be negative or positive (either threats or opportunities). In this section you provide the following information: Risk Tolerance the project cannot be protected from all risks. The customer must indicate which of the project triple constraint (budget, schedule, and quality) must be prioritized over the others. Indicate for which of the triple constraints you have the least tolerance for variation (this constraint then becomes your highest priority to protect). Indicate why you feel that this constraint needs to be prioritized in its protection from potential risk threats. The following table can be used to present your high-level project risks: Risk Project Risk Risk Description Risk Strategy Strategy Action 2 10. Project Milestones: Review the definition of a project milestone and then complete the following milestone table with 2-3 examples of milestones that would be appropriate for a project of this nature. Milestone Name Milestone Description Milestone Date 11. Project Stakeholders: Identify 2 to 3 project stakeholders who would be appropriate for a project of this nature. Consider the following types of information when describing your stakeholders: a. Identify the stakeholder (for this assignment, identify them by the title the or role that they play in the project) b. What elements of the project are they involved in? c. How do they contribute to the project? d. What do they need from the project? (Information? Or otherwise?) e. Who do they report to? Stakeholder Requirements: In this section, provide examples of 1-2 stakeholder requirements - the type that would be defined by the project sponsor or customer. Note: Stakeholder requirements are different from the project's detailed solution requirements that we will encounter in our project plan assignment. High-level stakeholder requirements are the types of things that an average customer would ask for (for example, what do you want as part of your dream house?) Remember to align your requirements to your project's goals, objectives and the general scope of the project. 12. Summary Budget: Develop a spending framework for the project that conveys the project sponsor's funding priorities. Keep in mind that this is a high-level budget, and it is not to the same level of detail as there would be in the project plan budget. Your summary budget should convey the project's sponsor's spending priorities. 13. Project Manager Responsibilities and Authority Level: In this section, you need to define the following: a. Identify who the project manager will be for this project. b. What the main responsibilities of the project manager are; and c. What authority has been assigned to the project manager to carry out their responsibilities? 14. References: Provide proper citation of all open-source resources that you have used in preparing your assignments. You will most likely be required to do research to complete this assignment-research is greatly encouraged but drawing information directly from third-party material is not. You should minimize the use of third-party material, and if you need to use it, then it is important that you cite it within your work. At a minimum