Have Teams Complete a Charter Before Starting a Project

It’s perilously easy for corporate innovators to skate past the why and the how, particularly those working in new-growth groups or incubators. One mechanism some companies use to deal with this problem is to have each team complete a charter before it starts to work, detailing the project’s strategic intent (the why), specific goals (the how), strategic options that are on and off the table, critical uncertainties, project resources (both people and money), identification of who is responsible for making which decisions, key strategic milestones, and the next project checkpoint.

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