The Project Charter document in project management is an important document that describes the parameters of the project.
In this article, we share a real sample Project Charter written by a project management student. See also: Reference: “Real Project Charter example document for project managers“, https://eduwiki.me/real-project-charter-example-document-for-project-managers/
You can use the document for your academic or professional needs. Be sensible though.
Project Charter document: real example
Project Charter document for the “Innovative Product 2022” project
Through the implementation of our project for an innovative and modern product, we will create several competitive advantages for our company.
This will be a product without analog on the currently existing market for similar devices, which will give us a competitive edge over competitors in the segment.
The successful implementation of the project will also increase the reputation of the company, and create a name for us as an innovative, forward-thinking organization – the market leader and trend maker.
In addition, the expanded capabilities of the product – especially in the part allowing the installation of applications will create a whole new field of opportunities for generating additional income within its active, life cycle. See more: “Project Charter – detailed real example for Project Planning phases“, https://www.policymatters.net/project-charter-detailed-real-example-for-project-planning-phases/
If the new product is successful, it can come both from the development and sale of additional applications in-house and from license fees received from third-party developers who wish to develop and offer applications written specifically for our product.
Expanding the company’s existing market share
Increasing the company’s reputation (tracking media publications, reports, and external metrics from relevant sociometric companies)
Realization of additional revenue from application development and/or license fees from third-party developers (directly tied to the realization of goal 1 – upon reaching the predicted market share, the potential to generate an additional revenue stream of $22,450,000 per quarter).
Expanding the company’s market share. Increasing the revenue base. Increase market reputation.
For this purpose, the project will include the following stages (sub-projects):
Product design project
Product OS selection/development project, More on the topic: “Project Charter – real detailed example for Project Planning phases”, https://www.worldforgemagazine.com/project-charter-real-detailed-example-for-project-planning-phases/
Innovative control system design project
Prototype development project
Implementation project (mass production) of the approved final prototype.
New product marketing strategy development project.
Project to ensure logistics and coordination with suppliers and distributors
Distribution project and subsequent control for profitability.
Project: A new generation product – Project Milestones
1. Preliminary analysis (Milestone 1)
Market research with a focus on consumer targets. The potential range of users who would need a product with similar advanced, innovative functionality;
Structure of consumer demand – the percentage of the total number of consumers “in the market” for the new product.
Analysis of the competitive environment – the presence of similar products offered on the market by other companies;
Analysis “Strengths/Weaknesses” of the product offered by us compared to the product/products of the competition;
2. Modeling. (Milestone 2)
Product design – development of a series of preliminary concepts for the exterior including control layout, and user menu view;
Design of internal structure, selection of a suitable set of components – engine, washing drum, electronics, etc.
Development of several sample designs with different characteristics and emphasis – on ease of use, practicality; energy efficiency; a combination of the above;
Selection of the most promising design and approval of the final prototype design.
3. Development. (Milestone 3)
Assignment of specific tasks to different departments of the company – production of external elements, development of user interface, purchase and/or development of the individual components of the product;
Assembly of a prototype of the new product and practical tests – for ergonomics, energy efficiency, and reliability;
Analysis and evaluation of the performed tests. Assessing the need to make adjustments (back to the drawing board);
Approving the final version of the product depending on the results of the tests done;
Presentation of the final prototype to management for final approval and release into production;
4. Implementation. (Milestone 4)
Depending on the preliminary market research, the development of an accurate estimate for the initial quantity of units for production of the new product;
Planning the necessary resources for production. Prepare purchase estimates, and purchase plans for components and materials and present them to senior management for approval before starting the mass production process;
Assigning the relevant units the tasks of procuring the necessary resources and materials. After securing them start the actual production process – component manufacturing, assembly, testing, and control on a large scale;
Development of an advertising strategy for the promotion of the new product; Starting negotiations with distributors and suppliers; Mass advertising before product launch;
Ensuring logistics – concluding contracts with transport companies and/or deciding to transport the new production with its own forces and means. Profitability assessment;
Delivery of the product to the distribution/sales centers;
Follow-up assessment of success – units sold for a fixed time interval, feedback from customers and distributors;
Reference: “Example of Project life cycle”, https://newia.info/example-of-project-life-cycle/
Reference: “Change Management Plan Example“, https://www.powerhp.net/change-management-plan-example/
Reference: “Change Management Plan: Example template”, https://wikipedia-lab.org/change-management-plan-example-template/
Reference: “Risk management plan and analysis: a real example”, https://www.businesspad.org/risk-management-plan-analysis-example/
Reference: “Project change management plan: A real example of a template”, https://brightonbot.com/project-change-management-plan-example/
Reference: “Project life cycle example”, https://ossalumni.org/project-life-cycle-example/
Reference: “Project Life Cycle example”, https://phron.org/project-life-cycle-example/
Reference: “Real Project Life Cycle example: phases and characteristics”, https://bpedia.org/real-project-life-cycle-example-phases-and-characteristics/
Reference: “Business project and project lifecycle example for an innovative product”, https://www.dobrojutro.net/business-project-and-project-lifecycle-example-for-an-innovative-product/
Product Design Project – $110,000
Product OS selection / development project – $88,000
Innovative Control System Design Project – $44,000
A project to develop a module allowing the installation of additional applications. – $33,000
Prototype Development Project – $75,200
Implementation project (mass production) of the approved final prototype. – $55,000
New product marketing strategy development project. – $12,000
Project to ensure logistics and coordination with suppliers and distributors – $45,000.