Project Charter vs SOW vs SLA

[Gaurav Mantro]

Hi,
Can someone please provide some details on difference between Project
Charter vs SOW vs SLA?

Thanks in Advance

[Salil]

Project Charter: a document which gives a formal recognition to the
project, formally authorises the project manager, and signed by the
sponsor of the project.
SOW: Statement of work on the basis of which various bids are invited
for the work to be done
SLA: it is an agreement between the buyer and the seller. It is called
service level agreement. The project has been awarded to the buyer and
tasks to be performed will be managed by the SLA.
Hope it helps.

Best Regards,
Salil Chaudhry

[Gaurav Mantro]

Consider this scenario,
Customer wants to have a SOW every quarter for a given project. SOW is
what the seller gets paid for. So a high level contract was signed
initially, more like an umbrella. But for every quarter for billing
purposes an SOW needs to be defined and submitted and end of quarter
payment is done against that SOW. Now how does this fit into PMI's
process?

regards,

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[Salil]

when you are defining the SOW every quarter, it means a new set of
requirements are defined every quarter [i.e. scope is defined], and
when the quarter ends, before the payment is made, the work done is
verified against the SOW [i.e. acceptance] if things goes fine payment
must be released, and things are formally accepted. and during the
whole quarter period all the processes defined by PMI, must be
followed.

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[Salil]

The PMBOK says "A performance measurement technique that compares
technical accomplishments during project execution to the project
management plan and schedule of planned technical achievements. It may
use key technical parameters of the product produced by the project as
a quality metric. The achieved metric values are part of the work
performance information."

Since it is the utmost responsibility of the Project Manager to ensure
that work supposed to be done is done as per the planned (budgeted)
cost and schedule, there are no variances, that's why he visits the
site and verifies the work done. Signing off the SOV and payment
requisition means that he is taking full responsibility stating that
work is being done as per the schedule and cost planned/budgeted.

Hope it helps.