3Project Charter Process Research PaperIntroductionProject can be defined as a non-permanent task or activity that creates unique service orproduct. It should have defined terms and objectives such as duration, budget or targets. As theproject is executed, there is are certain phases that a project undergoes. It starts as an idea anddevelops into a project through project charter, implementation and delivery of the requiredproduct or services. To initiate the project, management creates a project charter as it acts as adocument which contains measurement of various goals and targets of a project. This includes tounderstand the project requirements, needs and concerns from the customer. The sponsors of theproject discuss with the project manager to develop a project charter that will be used throughoutthe project to keep track of progress. This paper highlights all the details related to a projectcharter. It includes project objectives, expectations and requirements, checkpoints with timelines,success criteria and key stakeholders. It also includes risk assessment along with process tomonitor, control and overall project management. These features are discussed in detail in thefollowing paper.This document serves as an executive summary for the overall project. It includes all theimportant details that highlights the importance of project. If the sponsors are not satisfied withthe details, it can lead to cancellation of the project also. This document acts as an agreementbetween the stakeholders and sponsors. As the budget should be approved, the project charter canbe used. It becomes a formal authorization document from the leadership to move ahead with theproject. This document defines the project objectives and key goals at a high level. This can be
