A Project Charter is a document that presents the objectives, schedule, costs and potential risks of a future project and lists the stakeholders involved. It is a key asset in the project management process and helps improve both project planning and execution.
The Project Charter can also act as a contract between the project sponsor, key stakeholders, and the project manager. In Customer Relationship Management the Project Charter is referred to as Project Definition Report.
Project Background: describes the business case and help identify the project. Here you should write about the reasons for undertaking the project.
Scope and Objectives: here you should present your plan to solve the issue at hand.
Project Schedule: you should elaborate on and set dates for the key milestones of the project. A milestone can be anything from team forming to quality checks.
To authorize the project
Help keep the project in scope during execution
Pitch the project to sponsors
The project manager is usually the one who oversees the development of the charter, but other teams may also have to pitch in. Once the Project Charter is accepted and signed by all parties involved, it grants authority to the project manager to execute the project and use company funds.
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