A project charter is defined by the Project Management Institute (PMI) as a document that formally authorises a project and provides a high-level view of the project’s goals, objectives, stakeholders, and key deliverables. It is regarded as a critical first step in the project management process because it lays the groundwork for project planning and execution.
A typical project charter includes the following components:
Name and description of the project: A brief overview of the project’s purpose and objectives.
Goals and objectives: A clear statement of what the project intends to accomplish, including specific, measurable, achievable, relevant, and time-bound (SMART) objectives.
Scope and deliverables: A description of the project’s boundaries and what the project will produce.
List of stakeholders and their roles: A list of the project’s stakeholders, along with their roles and responsibilities.
Project manager and team members: The names and roles of the project manager and team members in charge of project delivery.
Budget and timeline: A cost estimate for the project, as well as a timeline of key milestones and deadlines.
Risks and assumptions: An assessment of the potential risks that may impact the project, as well as any assumptions made during project planning.
Signatures of approval: Signatures of key stakeholders, including the project sponsor, indicating their support and authorization for the project.
The project charter is an essential tool for aligning project team members, stakeholders, and organisational goals. The charter should be created with input from project team members and stakeholders, then reviewed and updated as needed. It assists project team members in remaining focused on the project’s goals, objectives, and deliverables throughout the duration of the project.
To create a fail-proof charter, gather accurate and complete project information, include all relevant stakeholders in the charter development process, and review and update the charter on a regular basis to ensure that it remains aligned with the project’s goals and objectives. Furthermore, it is recommended to have clear, measurable, and achievable project objectives, as well as a clear project scope, deliverables, and stakeholders, as well as a clear project management structure, risks, and assumptions, and a clear budget and timeline.
