6 Project Management Terms and Concepts Post University Professor: Dr. Kathy Milhauser Introduction Project management involves a process that leads a team to achieve a project's goals and objectives. It is the use of particular techniques, tools, skills, and knowledge in delivering a valuable aspect to the customers. Implementation of a project entails numerous stakeholders with respective roles to play in successfully completing the process. It also encompasses risks that affect the outcome of the implementation process. The impact risk factors might have on the process heavily relies on the techniques the project management will decide to utilize. The Project Overview The article chosen is about the project that Samsung recently unveiled. The project involves the construction of Samsung's first semiconductor fabrication facility in Taylor, Texas. The facility, which is intended to be located near Austin, Texas, is estimated to amount to a budget of $17 billion. It was set to begin this year and be completed by 2024 (The Guardian, 2021). The project cost estimation covers the buildings, machinery and equipment, and property improvement. Once completed, the project is said to be the substantial leading investment of the South Korean project in the United States. Samsung has operated a chip manufacturing entity in Austin since the late 1990s and has consistently shown its need to advance its chip operations within the country to curb stiff competition offered by larger entities like Apple, Google, and Amazon located within the geographical region. The company aims to take advantage of its technical experience to earn a significant share in the market of chip manufacturers globally. It is one of the leading technology-based organizations globally that drives the global market's largest share.     Components of the Project The Project Qualification In essence, a project is termed to be a project if it is a temporary endeavor and the entity responsible undertakes it for the creation of a unique product or service intending to solve a problem in the market. The first qualification that qualifies for the Samsung project is its satisfying qualities in a set of requirements. Following the rapid increase of chips' demand across the globe as technology continues to advance and expand, the company intends to fill the gap of needing more products to satisfy the market needs. Another qualification trait is its sequenced schedule of activities (San Cristóbal et al., 2018). Samsung has highlighted the sequence of when and how different tasks will be carried out within a certain period. The project also has a well-stated scope, time, and cost estimate that defines its starting and completion points. Project Objectives The company's objective with the project is to diversify its manufacturing operations globally geographically. Currently, the company is known for its diversified products and services it supplies to the marketplace. It aims at widenin.

1. 6
Project Management Terms and Concepts
Post University
Professor: Dr. Kathy Milhauser
Introduction
Project management involves a process that leads a team to
achieve a project's goals and objectives. It is the use of
particular techniques, tools, skills, and knowledge in delivering
a valuable aspect to the customers. Implementation of a project
entails numerous stakeholders with respective roles to play in
successfully completing the process. It also encompasses risks
that affect the outcome of the implementation process. The
impact risk factors might have on the process heavily relies on
the techniques the project management will decide to utilize.
The Project Overview
The article chosen is about the project that Samsung recently
unveiled. The project involves the construction of Samsung's
first semiconductor fabrication facility in Taylor, Texas. The
facility, which is intended to be located near Austin, Texas, is
estimated to amount to a budget of $17 billion. It was set to
begin this year and be completed by 2024 (The Guardian, 2021).
The project cost estimation covers the buildings, machinery and
equipment, and property improvement. Once completed, the
project is said to be the substantial leading investment of the
South Korean project in the United States. Samsung has
operated a chip manufacturing entity in Austin since the late
1990s and has consistently shown its need to advance its chip
operations within the country to curb stiff competition offered

2. by larger entities like Apple, Google, and Amazon located
within the geographical region. The company aims to take
advantage of its technical experience to earn a significant share
in the market of chip manufacturers globally. It is one of the
leading technology-based organizations globally that drives the
global market's largest share.
Components of the Project
The Project Qualification
In essence, a project is termed to be a project if it is a
temporary endeavor and the entity responsible undertakes it for
the creation of a unique product or service intending to solve a
problem in the market. The first qualification that qualifies for
the Samsung project is its satisfying qualities in a set of
requirements. Following the rapid increase of chips' demand
across the globe as technology continues to advance and
expand, the company intends to fill the gap of needing more
products to satisfy the market needs. Another qualification trait
is its sequenced schedule of activities (San Cristóbal et al.,
2018). Samsung has highlighted the sequence of when and how
different tasks will be carried out within a certain period. The
project also has a well-stated scope, time, and cost estimate that
defines its starting and completion points.
Project Objectives
The company's objective with the project is to diversify its
manufacturing operations globally geographically. Currently,
the company is known for its diversified products and services
it supplies to the marketplace. It aims at widening the range of
its products and services by venturing into different industries
to earn its market share, with the chip industry being one of its
targets.
Role of Managers, Sponsors, and Team Members
The company's project manager is responsible for controlling
the development and production of the facility's deliverables.
He is assigned the role of managing, planning, and monitoring

3. the project's implementation process until its completion is
achieved. Project sponsors are responsible for financing the
project's operations and activities and supporting its
implementation process. On the other hand, project team
members are obligated to contribute to the project's overall
objectives (San Cristóbal et al., 2018). Their role is to ensure
they successfully complete their respective deliverables and
provide their expertise based on the area of their specialization.
Project Scope
The company also states the project scope clearly in its project
planning management. It intends to continue with its objective
of diversifying its products and services in various industries.
The primary goal is to increase its revenue share and wealth
from a wide range of customer bases it obtained in various
industries. Also, the project is estimated to cost about $17
billion by the end of its completion (The Guardian, 2021). It is
set to begin in 2022 and to have been completed or in operation
by 2024, taking a duration period of approximately two years.
Project Risks/Uncertainty and Outcome
The company's project is more likely to encounter numerous
risks and uncertainty connected to its development in the United
States. Most importantly, following the concerns of chips being
a serious threat to the United States national security, the
project may encounter stiff restrictions that will hinder its
implementation process. Also, uncertainties such as the recent
covid-19 pandemic may cause a barrier to its implementation
process and also its future operations once it is completed. Once
the project is completed, the outcome will boost the production
of hi-tech chips, especially for mobile communication of 5G.
The outcome will also enhance advanced computing processes
and artificial intelligence. The project will help improve supply
chain resilience, especially in the highly competitive
environment of advanced technology and innovative strategies.
Conclusion and Lesson Learned

4. In conclusion, project management involves complex activities
that are meant to guide a project implementation process from
its starting point to its completion. A project is not a project
until it attains certain requirements that give it meaning. For
instance, the project to be undertaken by Samsung in the United
States has defined deliverables such as the budget report,
progress report, scope, and time and tasks schedule, which
qualify it as a project. Project management is a process that
involves planning, executing, and monitoring the process of
project implementation to completion.
References
San Cristóbal, J. R., Carral, L., Diaz, E., Fraguela, J. A., &
Iglesias, G. (2018). Complexity and project management: A
general overview.
Complexity,
2018.
The Guardian. (2021). Samsung to build $17bn semiconductor
factory in Texas. Retrieved from;
https://www.theguardian.com/technology/2021/nov/24/samsung-
to-build-a-17bn-semiconductor-factory-in-texas-us-chip-
shortage
Project Charter TemplatePROJECT CHARTER
TEMPLATEGENERAL PROJECT INFORMATIONPROJECT
NAMEPROJECT SPONSORPROJECT MANAGEREMAIL
ADDRESSPHONE NUMBERORGANIZATIONAL
UNITPROCESS IMPACTEDEXPECTED START
DATEEXPECTED COMPLETION DATEEXPECTED
SAVINGS$0ESTIMATED COSTS$0GREEN BELTS
ASSIGNEDBLACK BELTS ASSIGNEDDESCRIBE THE
PROBLEM OR ISSUE, GOALS, OBJECTIVES, AND
DELIVERABLES OF THIS PROJECTPROBLEM OR
ISSUEPURPOSE OF PROJECTBUSINESS CASEGOALS /

5. METRICSEXPECTED DELIVERABLESDEFINE THE
PROJECT SCOPE AND SCHEDULEWITHIN SCOPEOUTSIDE
OF SCOPETENTATIVE SCHEDULEKEY
MILESTONESTARTCOMPLETEForm Project Team /
Preliminary Review / ScopeFinalize Project Plan / Charter /
Kick OffDefine PhaseMeasurement PhaseAnalysis
PhaseImprovement PhaseControl PhaseProject Summary Report
and Close OutDEFINE THE PROJECT RESOURCES AND
COSTSPROJECT TEAMSUPPORT RESOURCESSPECIAL
NEEDSCOST TYPEVENDOR / LABOR
NAMESRATEQTYAMOUNTLABOR$0LABOR$0LABOR$0LA
BOR$0LABOR$0MISCELLANEOUS$0TOTAL
COSTS$0DEFINE THE PROJECT BENEFITS AND
CUSTOMERSPROCESS OWNERKEY
STAKEHOLDERSFINAL CUSTOMEREXPECTED
BENEFITSTYPE OF BENEFITDESCRIBE BASIS OF
ESTIMATEEST BENEFITSPECIFIC COST
SAVINGSENHANCED REVENUESHIGHER PRODUCTIVITY
(SOFT)IMPROVED COMPLIANCEBETTER DECISION
MAKINGLESS MAINTENANCEOTHER COSTS
AVOIDED$0DESCRIBE PROJECT RISKS, CONSTRAINTS,
AND
ASSUMPTIONSRISKSCONSTRAINTSASSUMPTIONSPrepare
d by:Date:
IMPORTANT REMINDER
A narrative written charter must
be circulated and signed by the project sponsors. You can attach
a completed version of this template to your narrative written
charter in an effort to keep it short and concise.
Please make sure you meet with the project team and sponsors
before completing this template. Much of the information
required will need to come from a discussion with team
members and sponsors.
- Disclaimer -Any articles, templates, or information provided
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6. strive to keep the information up to date and correct, we make
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about the completeness, accuracy, reliability, suitability, or
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Any reliance you place on such information is therefore strictly
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image1.png
Doc Number
XXXX
Version
XX
Print Date
11/1/02
Page
Page 1 of 1Project Charter
ProjectProject Name
Created By Your Name
DateCreation Date
PhoneYour Phone Number
EmailYour Email
MissionInstructions:
·
You may also want to replace the Key
Consulting logo with the project’s logo.
·
Not all the sections listed here may be

7. needed on a particular project. There may also be items you
need to include that are not included here.
·
Many of these items listed will be visited in
more detail when you start planning. The objective of the
charter is to document the information as it is known at the
beginning of the project – not to get into
the planning itself.
·
Delete the blue instruction text as you move
through the form.
·
The mission, or goal, for the project should
be documented in this row.
What is the project ?
Objectives
Why is it important to achieve the project mission? What do you
hope to achieve by executing the project?
Deliverables
What will the project actually produce? These should be
measurable items.
Stakeholders
Who will be on the team? Who is the project sponsor? What
other stakeholders have already been identified? Include contact
information if possible.
Roles and Responsibilities
Are there some roles/responsibilities that need to be clarified
now before the detailed planning begins? Are you clear on your
responsibilities as the project manager?
High-Level Work Breakdown Structure

8. How will the project being structured at a high-level? WBS is
similar to an outline of a project. High-level WBS divides
project scope into manageable chunks that a project team can
understand.
Project Milestone
List a reference point that marks a major event in a project
In-scope and out of scope
Define the boundaries of a project. Document what will and will
not be included in this project.
Assumptions
What high-level assumptions have already been made about the
project?
Communications
What will be the main channels of communications? Do you
anticipate any communication problems that should be clarified
here? How often will the team meet?
Risks
What are main high-level risks that have already been
identified?
Documentation
Where will project documentation be kept? How will it be kept
up-to-date?
Boundaries
Are there specific items that are NOT within the scope of the
project?
Budget
Include the total amount of money that is allocated for the
project to use.
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