Project Procurement Management Essay Example | Topics and Well Written Essays - 750 words

Project Procurement Management - Essay Example A signed Charter authorizes the Project Team to begin work on the project. Project Schedule gives planned dates for starting and completing activities and milestones. Project schedule could be an addendum to the project charter or be part of the charter document itself to provide a high-level timeline of the project to the management and the stakeholders. The Project charter should contain rough estimates for the management to budget for the project or choose to approve this project over other projects that are in contention for the funding. This could also be included in the charter document itself or be a separate supporting document as an enclosure. Expense item Costs$ Capital costs Hardware $25,000.00 Software $106,000.00 Infrastructure $83,000.00 Installation $12,000.00 Professional Services - implementation and training $200,000.00 Others $53,000.00 Total Capital Costs $479,000.00 First Year Operating Costs Salaries $300,000.00 Computer Operational costs $85,000.00 Contracted Services $200,000.00 Professional services $150,000.00 Others $75,000.00 Total first year operational costs $810,000.00 Total budget cost estimate $1,289,000.00 References: 1. Project Charter defined Authority Documentation Comparing Prince2 with PMBOK http://www.maxwideman.com/papers/comparing/authority.htm 2. What should a project charter contain A Project Charter template http://www.vita.virginia.gov/projects/