It is mainly a document officially starts a project and includes every detail of the project. From start to end, the document also includes project authorization. This document lists all the top-level requirements as per the stakeholders and the outcomes of the project.
A project charter is a formal document that authorizes the initiation of a project. It outlines the project’s objectives, scope, stakeholders, resources, timelines, and other key information. It serves as a foundational reference point throughout the project lifecycle, providing clarity and direction to the project team and stakeholders. Key components typically included in a project charter are:
- Project Purpose/Objectives: Clearly states the reason for undertaking the project and what it aims to achieve.
- Scope: Defines the boundaries of the project, including what is included and what is not.
- Stakeholders: Identifies individuals or groups who have an interest or involvement in the project and outlines their roles and responsibilities.
- Project Manager: Designates the individual responsible for overall project leadership and management.
- Constraints and Assumptions: Describes any limitations, dependencies, or assumptions that may impact the project.
- Milestones and Deliverables: Sets forth key milestones, deliverables, and deadlines for the project.
- Budget and Resources: Outlines the financial and human resources allocated to the project.
- Risks and Risk Management: Identifies potential risks to the project and outlines strategies for mitigating or managing them.
- Approval: Specifies the authority responsible for approving the project charter.
The project charter is typically developed during the initiation phase of the project and is approved by the project sponsor or other relevant stakeholders. It provides a foundation for project planning, execution, monitoring, and control, helping to ensure that the project stays on track and achieves its objectives.