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The targets that you have identified up to now help you to draft a project charter with the most significant people in the project. It should include the following points:

Project performance objective [5]
What do you have to achieve by the end of the project?

Project time objective
When will the project start and when will the performance objective be achieved? Have you remembered to allow for float time?

Project cost objective [6]
How much money will have been spent by the end of the project? Does that include contingency funds?

Prioritising objectives [7]
Which objective has priority A: quality, time or cost compliance? Which things have subordinate priority?

Project cost centre
If the project is an internal one, a project cost centre is set up as the basis for reliable cost management (cost budgeting, cost monitoring).

Project release
Now, the customer can release the project, which means that you are able to plan, implement and finalise it.

The project charter specifies the project manager's role in the project and in the steering committee. Both the project manager and the customer are members of the steering committee. The steering committee should have as few members as possible and meet on a regular basis.

If there is need to make any changes, they will be directly reflected in the quality, time and cost objectives and the consequences of any changes will be evident.