UBS

Project Charter

What is Project Charter In Project Management?

A Project Charter is defined as a short, formal document that contains the objective statement of a project and its execution. This document will describe in detail, the key goals of a project, the roles of team members and their responsibilities, the key stakeholders of the project, and their interests.

It is actually a formally issued document by the project initiator or an investor that formally authorizes the existence of a project and empowers the project manager to invest in organizational resources for project activities.

A good project charter should include:

  • Contain the essence of the project
  • Ensure all stakeholders and sponsors agree on decisions
  • Ensure a shared understanding of the project
  • Be a contract between the project team, sponsor, and stakeholders
  • Help get project sponsor approval when buy-in takes place.

Also, See: Project Management Professional

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