Week 3 Discussion

Page 1 of 1 MGT3035 Fundamentals of Project Management

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Project Planning Hierarchy Project planning has several components. Organizational Mission and Vision: Statements that describe in inspiring terms why the organization exists, its purposes, and the overall goals for itself and its stakeholders. Organizational Strategy: A plan for accomplishing an organization’s mission and realizing its vision, stating major goals and objectives. Project Vision and Mission: Statements that link organizational vision, mission, and strategy to the supportive role of the project towards meeting overall objectives. Project Charter: A document used 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. Project Scope Statement: The narrative description of the project scope includes major deliverables, project objectives, project assumptions, project constraints, and statement of work. It provides a documented basis for making future project decisions and for confirming or developing a common understanding of project scope among the stakeholders. Project Plan: A formal, approved document that defines how the project is executed, monitored, and controlled. It may be a summary of or constituted of the fundamental plans.