Definition of Project Charter
The project charter is a formal document outlining the complete project details and its scope. It describes the project objectives and goals, the timeline for the project as well as the stakeholders involved in the project. This provides a shared understanding between all parties involved in the project. Nowadays, businesses are required to sign the project charter as a contract which is the official go-ahead signal for the project.
Project charter includes but not limited to the following details:
- Project objectives and scope
- Project stakeholders
- Project budget and timeline
- The risk involved in the project