Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated: 1 1 00:00:01,230 --> 00:00:04,240 Now, let's document the project manager, 2 2 00:00:04,240 --> 00:00:07,553 their mandate, and the planning budget and schedule. 3 3 00:00:09,200 --> 00:00:11,750 The charter formally identifies the project manager 4 4 00:00:11,750 --> 00:00:13,580 for preparation of the project plan 5 5 00:00:13,580 --> 00:00:16,353 and subsequent execution if the plan is approved. 6 6 00:00:17,620 --> 00:00:21,690 Very importantly, the charter also includes a mandate 7 7 00:00:21,690 --> 00:00:24,920 empowering the project manager in the eyes of others. 8 8 00:00:24,920 --> 00:00:28,100 With language, something like, the project manager 9 9 00:00:28,100 --> 00:00:30,440 shall prepare a plan to carry out the project 10 10 00:00:30,440 --> 00:00:32,650 documenting the scope, schedule, budget, 11 11 00:00:32,650 --> 00:00:34,793 and risks for sponsor review. 12 12 00:00:35,940 --> 00:00:37,816 The project manager may call on internal 13 13 00:00:37,816 --> 00:00:40,504 and external resources as required 14 14 00:00:40,504 --> 00:00:43,393 to prepare a complete and accurate plan. 15 15 00:00:45,070 --> 00:00:47,940 This mandate language, sent as part of the charter 16 16 00:00:47,940 --> 00:00:50,700 by the sponsor to all the stakeholders, 17 17 00:00:50,700 --> 00:00:54,950 is very useful in publicly empowering the project manager 18 18 00:00:54,950 --> 00:00:56,610 to obtain the support of the organization 19 19 00:00:56,610 --> 00:00:58,963 they will need in the planning stage. 20 20 00:01:00,790 --> 00:01:03,060 The charter should also provide the project manager 21 21 00:01:03,060 --> 00:01:05,263 with a budget and schedule for planning. 22 22 00:01:06,220 --> 00:01:08,940 The planning budget is typically 5% 23 23 00:01:08,940 --> 00:01:11,880 of the initiation estimate of the project cost, 24 24 00:01:11,880 --> 00:01:15,550 although it can be as little as 2.5% for simple projects 25 25 00:01:15,550 --> 00:01:19,969 in well known domains, or very rarely as much as 7.5% 26 26 00:01:19,969 --> 00:01:23,910 for the most complex projects in new domains 27 27 00:01:23,910 --> 00:01:26,453 requiring significant requirements analysis. 28 28 00:01:27,731 --> 00:01:29,670 And a date is provided by which the plan 29 29 00:01:29,670 --> 00:01:30,920 must be ready for review. 30 30 00:01:32,610 --> 00:01:34,390 You now have everything you need 31 31 00:01:34,390 --> 00:01:37,100 to prepare a solid initiation charter, 32 32 00:01:37,100 --> 00:01:40,253 completing the first stage in the project life cycle. 2895