A Project Charter is a one to two page document that acts as a contract between the project sponsor, key stakeholders and the project team. The Project Charter defines the goals of the project, scope of the project, high level timeline of the project, preliminary cost estimate of the project, and identifies key project team members. A Project Charter should include a benefit section which clearly states the business benefits in the language of the business. A Project Charter is used as a contract between the Project Manager and Team Members and is kept up to date with project changes and adjustments. It is a good idea to review changes to a project's project charter in order to keep track --at a high level-- of how much your project has changed and how quickly those changes have taken place. Project Charter's are often used to obtain Manager, Project Sponsor, PMO, and/or Exective level approval for a project.
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