Project Charter Procurement Template23 May 2017
Procurement Project Charter for Cost Reduction Projects
Procurement uses the project charter template to document and track cost reduction initiatives. Each buyer in the procurement department completes project charters. The project charter slides are typically collated into a purchasing department presentation. The template file format is Microsoft PowerPoint.
Effective procurement teams organize and prioritize key intiatives with the Excel project charter template. Focusing on key priorities enables purchasing power.
This is week eight of ten free procurement templates in ten weeks. Be sure to check blog posts for free procurement templates from weeks one through seven.
Week 1: sourcing strategy
Week 2: request for quotation rfq
Week 3: supplier cost improvement
Week 4: flexible supplier scorecard
Week 5: supplier risk assessment
Week 6: supplier financial viability
Week 7: inbound transportation survey
In a one-page summary, the project charter template provides information about key cost reduction initiatives. Key areas to complete on the project charter template include:
- Team objectives - state the key project objectives; e.g. sourcing strategy for corrugated packaging category.
- Savings Estimates - provide estimated and target savings.
- Approach - provide the approach to be used to achieve the team objectives. An approach could be supplier consolidation or alternate supplier qualification to increase competition.
- Scope - define the specific focus of the project along with addressable spend.
- Key Milestone - state the key tasks and expected completion dates
- Project Team - identify the project resources.
- Project Stakeholders - indicate which key stakeholders this cost reduction project could impact.
- Project Sponsor - name the sponsor of the project.
I believe this template really helps procurement define key aspects of cost reduction projects. Resources are identified along with the project sponsor and key stakeholder alignment.
Here is a screen shot of the project charter template for procurement:
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