* It documents the reasons for undertaking the project.
* Outlines the objectives and the constraints faced by the project. * Provides solutions to the problem in hand.
* Identifies the main stakeholders of the project.
Benefits of Project Charter:
* It improves and paves way for good customer relationships. * Project Charter also works as a tool that improves project management processes. * Regional and headquarter communications can also be improved to a greater extent. * By having a project charter, project sponsorship can also be gained. * Project Charter recognizes senior management roles.
* Allows progression which is aimed at attaining industry best practices. Elements in Project Charter:
Since project charter is a project planning tool which is aimed at resolving an issue or an opportunity, the below elements are essential for a good charter project. For an effective charter project, it needs to address these key elements. * Identity of the project.
* Time: the start date and the deadline for the project.
* People involved in the project.
* Outlined objectives and set targets.
* The reason for a project charter to be carried out often referred to as 'business case'. * Detailed description of a problem or an opportunity.
* The return expected from the...