write up what you learned from this chapter?. PLEASE EXEMPLIFY HIGH LEVEL ANALYSIS WITH YOUR WRITING (i.e., 3 Paragraphs Minimum consisting of 5 sentences per paragraph.

in this chapter you need to be able to understand the following questions. What is a project charter? Reasons to create a project charter? What information should be put into a project charter? Who should create/prepare the project charter?

Summary chapter 2

The initiating phase of the project life cycle starts with recognizing a need, problem, or opportunity for which a project or projects are identified to address the need.

Sometimes organizations identify several or many needs but have limited funds and people available to pursue potential projects to address all of those needs. In such cases, the company must go through a decision-making process to prioritize and select those projects that will result in the greatest overall benefit.

Project selection involves evaluating potential projects and then deciding which of these should move forward to be implemented.

Once a project is selected, it is formally authorized using a document referred to as a project charter, sometimes called a project authorization or project initiation document.

In some cases, an organization does not have the expertise or staff capacity to plan and perform the project or major portions of the project, and therefore decides to have the project done by an external resource (contractor) and prepares and RFP.

Once the RFP has been prepared, the customer solicits proposals by notifying potential contractors that the RFP is available.

Not all project life cycles include the preparation of a written request for proposal by a customer and subsequent submittal of proposals from contractors. Some endeavors move right from the initiating phase, where a project is identified and selected, into the planning and performing phases of the life cycle.