1. Project selection methods. Project selection methods are used to determine which project the organization will select. These methods generally fall into one of the two broad categories:
■ Benefit measurement methods that are comparative approaches, scoring models, benefit contribution, or economic models
■ Mathematical models that use linear, nonlinear, dynamic, integer, or multi-objective programming algorithms
2. Project management methodology. A project management methodology defines a set of project management process groups, their related processes, and the related control functions that are consolidated and combined into a functioning and unified whole. A project management methodology may or may not be an elaboration of a project management standard. A project management methodology can either be a formal mature process or an informal technique that aids a project management team in effectively developing a project charter.
3. Project management information system. The project management information system (PMIS) is a standardized set of automated tools available within the organization and integrated into a system. The PMIS is used by the project management team to support generation of a project charter, facilitate feedback as the document is refined, control changes to the project charter, and release the approved document.
4. Expert judgment. Expert judgment is often used to assess the inputs needed to develop the project charter. Such judgment and expertise is applied to any technical and management details during the process. Such expertise is provided by any group or individual with specialized knowledge or training, and is available from many sources, including
■ Other units within the organization
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.