What is a Project Charter in Project Management?
What is a project charter in project management? A project charter is a formal, typically short document that describes your project in its entirety — including what the objectives are, how it will be carried out, and who the stakeholders are. It is a crucial ingredient in planning out the project because it is used throughout the project lifecycle.
Project Charter Overview
The project charter typically documents:
- Reasons for the project
- Objectives and constraints of the project
- Who the main stakeholders are
- Risks identified
- Benefits of the project
- General overview of the budget
How to Create a Project Charter
- Understand project goals and objectives. Identify the project vision and determine the scope of the project
- Define project organization. List all of the essential roles for the project, including customers, stakeholders, and day-to-day project team.
- Create an implementation plan. Outline major milestones, dependencies and timeline for the entire team and stakeholders.
- List potential problem areas. No one wants to be a downer, but adding potential risks and issues to the project charter helps everyone think ahead should the worst happen.