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The project charter is a document that officially starts a project or a phase. It formally authorizes the existence of the project and provides a reference source for the future. The charter gives a direction and a sense of purpose to the management from start to end.

The project charter typically documents the following parts of the project: Project objectives and constraints. Key stakeholders. Risks identified. Benefits of the project. General overview of the budget.

It is a high-level document that does not include the project details. The specifics of project activities will be developed later. It includes the summary level preliminary project budget.

A project charter should always include an overview, an outline of scope, an approximate schedule, a budget estimate, anticipated risks, and key stakeholders. Each of these sections should be brief, but as thorough as possible.

Reviewing your charter helps you to monitor the progress, alignment, and feasibility of your project. It also helps you to identify any gaps, risks, or conflicts that may arise and need to be addressed.

Project charter should remain unchanged unless the project purposes or goals should be revised without the termination of project. Termination should seriously be considered if the original project purposes and goals are not met.

Let's dive into the details: Step 1: Define your goals and objectives. ... Step 2: Set success metrics. ... Step 3: Clarify stakeholders and roles. ... Step 4: Set your budget. ... Step 5: Align on milestones, deliverables, and project dependencies. ... Step 6: Outline your timeline and schedule. ... Step 7: Share your communication plan.