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Business Understanding
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Table of Content
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What is a Project Charter for a Data Mining Project?
The Project charter is a formal document that serves as an official authorization to start a project or a phase.
It is a document provided by the project sponsor and the Project manager will be able to initiate a project as per the requirements.
Project Charter includes:
- Definition of Business Objectives
- Success criteria for Business as well as Data Mining
- Cost allocation and resource planning (Hardware as well as Software)
- ML and DM techniques and algorithms to be applied including workflow of Data from exploration to deployment
- Project plan for all phases of CRISP-DM with timelines and risks identified at each phase
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What are the components of a Project Plan?
Below are a few components which are part of the Project plan.
- High-level timelines
- Allocated Human Resources
- Allocated Hardware and Software
- Risks and Risk Response Plans
- High-level deliverables along with Success Criteria for each of the 6 phases of CRISP-DM
- Highlight one-time activities and iterative activities pictorially
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