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4.1.3.1 PROJECT CHARTER The project charter is the document issued by the project initiator or sponsor that formally authorizesthe existence of a project and provides the project manager with the authority to apply organizationalresources to project activities. It documents the high-level information on the project and on the product,service, or result the project is intended to satisfy, such as: + Project purpose; + Measurable project objectives and related success criteria; 9 High-level requirements; 4} High-level project description, boundaries, and key deliverables;4» Overall project risk; 0 Summary milestone schedule; ¢ Preapproved ï¬Ânancial resources; Q Key stakeholder list; + Project approval requirements (i.e., what constitutes project success, who decides the projectis successful, and who signs off on the project); Q Project exit criteria (i.e., what are the conditions to be met in order to close or to cancel theproject or phase); 0 Assigned project manager, responsibility, and authority level; and0 Name and authority of the sponsor or other person(s) authorizing the project charter. At a high level, the project charter ensures a common understanding by the stakeholders of the keydeliverables, milestones, and the roles and responsibilities of everyone involved in the project.
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