A project charter is also known as a project definition report or a project declaration. It outlines the project’s scope, goals, and stakeholders who will participate. Project managers usually use this document to authorize the project, act as a contract, and serve as a baseline throughout the project. The charter is the undisputed source of project-related information. Although it’s brief, it can provide links to more informative records.
Get to know more about project charter by reading the following.
In an organization, a project charter explicitly specifies a project. It includes the project’s aims, individual involved, achievements, schedule, and potential risks. Typically, it is a short paper that explains the project in detail, including what the priorities are, how it will work, and who the stakeholders are. Since it is part of the project lifecycle, it is a critical component in developing the project.
If your company doesn’t have a project charter template, you should fill in the blanks for any detail you want. The more detailed your project charter is, the more persuasive and helpful it will be as a guide. Therefore, you should include the following categories.
In creating the name of your project, make sure to be specific. A project’s name like “Software Update” doesn’t describe why you like to perform this project. Also, it will take time to differentiate from other project charters. Therefore, create titles that will define your goals right away, like software update to enhance UX for mobile payments.
How will you know the purpose, goal, and specification of your project? Well, you can determine these by asking yourself why you want to implement the project, what impact it will give to the company, and what main point it’ll alleviate. These questions might sound simple, but they can have a significant result on your project charter.
Before you start a project, make sure to set your budget. Explain how much the project will cost and where the fund will come from. Also, in this section, list down the additional resources needed to accomplish your plan.
If you plan to complete each phase of your project, be sure to set a timetable. The anticipated start and end dates are the most relevant data in this section, but a complete timeline would provide additional information.
Although project charters are internal records, you’ll almost certainly be collaborating with and reporting to external partners. Some of such are customers, project managers, and teams within the organization.
By performing a stakeholder review and incorporating these people in the project charter, you and your team will be accountable to the people influenced by the project.
The scope, goals, and people involved in a project are all specified in the project charter. Begin by determining the roles and responsibilities of each team member. And the project’s aims and objectives. The project charter further specifies the key stakeholders and establishes the project manager’s authority.
The word “charter” refers to reserving a ferry, bus, or plane for personal use. When you rent a boat for the day, this is an example of a charter. A constitution is a text that outlines the ideals, responsibilities, and structure of a corporate entity. The charter of the city.
There are three types of charters. It includes time charter, voyage charter, and demise charter.
If you are still unsure of the document’s relevance, remember that you’re not writing it because you are assigned to create one. A project charter can help establish project member authorities, the overall project creation, and the project approval process. So if you are a manager, make sure to know the proper way to create an effective project charter. You can use the given project charter templates and guidelines above!