In the project lifecycle, the charter is created during the startup phase. Do you know the incredible value of creating a project charter? If not, here’s everything you need to know to get the perfect project charter.
A project charter is a fundamental project authorization that documents and describes the shared view of project scope, development, and objectives while defining the management team’s roles and responsibilities.
It is a crucial element in planning out the project. The project charter template helps in documenting the complete project. So before heading, let us see what the project charter template is?
“A project charter template helps to document the brief details of a project. Such as purpose scope, deliverables and the staff who are working in this project”.
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About Free Project Charter Template
This Free project charter template identifies project objectives, scope, and
deliverables. Then it creates task lists and resources.
Besides, it makes the financial and quality plans as well to plan the work forward. This template shows the importance of the project and how to address these reasons.
Importance and Roles of Project Charter Template
When starting a project, it would be beneficial to develop a project charter first. So, to make a project successful, you can create a project charter to the first step in the project’s whole life cycle.
Here are some significant benefits of the project charter template.
- The project charter gives a clear understanding of the whole project. It also reflects the results of the project. Our project charter template uses clear and focused business terms, which makes it easy to understand. Moreover, this free project charter template states when the project s going to start, which makes the mind of the project leader and the participants.
- To clearly understand the project, the whole project needs to be precise. Also, if it is vague, the project leader and the participants would not understand the process and procedures outside the project’s scope. Our project charter template excel clearly defines the project scope.
- Our free project charter template also gives you budget clarity. It ensures that the funding is available, and it will release on time. Additionally, it settles your spending authority and budget before starting the project.
- This free project charter template gives you measuring criteria and milestones. So, it provides invaluable guidance to your team as you start to brief out the project. Also, the project charter template helps determine project value for managers and teams. Additionally, it gives budget clarity.
- A team working under a flawed charter will find themselves confused again and again. So, a well-written charter boosts up the team’s morale by giving proper direction for success.
- A well-written project charter creates a shared understanding between stakeholders and the team. Also, the stakeholders can clearly understand what the outcomes of investing in the project will be. It helps them know what they are approving.
Components, Objectives, and Benefits of the Project Charter
There are several components and objectives of a project charter templet excel.
Overview: Gives a precise statement of the project.
Purpose of the Project Charter template: This Project Charter template defines the purpose, objectives, and scope of the project. The main is:
- To deliver an understanding of the project, the reason, and its justification
for starting it
- To establish the project administrator and his authority level
Project Objective: The project charter clearly states the project’s objective, how to access and measure it. It should be:
- Time-based scope
Scope: The project scope includes details, the desired outcome, and why
stakeholders should choose it.
Milestones: An estimated budget of the project: An experienced project manager defines the Timeline and expected expenses of the project.
Project schedule and milestones: The project charter should include the
milestones that are needed.
Major Deliverables: A list of the major deliverables that will come from the
project should be listed.
Project constraints: It is essential to define all limitations on the project or those working on the project.
Potential risks and mitigation strategies: There is always a risk factor in every project. It is vital to define all constraints on the project or those working on the project.
Project managers and staff: List every staff member and their role in the project.
Assumptions: List the assumptions in creating the project.
Business Need or Opportunity: Provide a brief statement of the business need or opportunity that led to the project’s beginning.
Stakeholders: Define stakeholder roles in the project. For example, explain
whether they’re actively involved or beneficiaries. List anyone who can approve or request changes to the project charter.
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Advantages of creating a project charter
A project charter improvement:
- Understanding of individual roles
Without a project charter, the project cant defines its direction. Further, you can avoid miscommunications and wrong expectations of customers, managers, and stakeholders, by having everyone examine and contribute to the project charter.
A project charter can work as a contract. Since it defines staff’s responsibilities and other terms and conditions, there’s less room for argument about whether parties fulfill their obligations.
What Is the Difference Between a Project Charter, a Statement of Work and a Project Proposal?
Let’s clarify the difference between a project management charter and other similar project documents before getting ahead. Here we will discuss, statement of work and a project proposal.
A statement of work (SOW) is a formal document between the client and the agency. Also, it explains the reason for the project and how it will be the outcome.
The SOW is a detailed, legally-binding contract, whereas a project charter is comparatively shorter, high level, and a non-legal overview of the project.
There is no difference between a statement of work and the scope of work. However, a project charter contains the scope of work. As for a project proposal, its purpose is to convince stakeholders of the viability of the project.
Making it clear, we can say the project charter doesn’t start until a project proposal has been approved. Moreover, the ownership of the above documents differs too.
The project director is generally the project proposal owner, and the project manager owns the project charter.
Steps to Make/Write A Project Charter
There are no hard and fast rules to make an OK project charter in project
management. It differs based on project nature. So, here are some general guidelines to write an effective project charter.
- Do primary research and collect information about the project. Then,
introduce the stakeholders to the project.
- Discuss the purpose, objective and deliverables of the project with the
stakeholder and team. And take notes.
- For taking notes, use pre-formatted free project charter templates to
mitigates the efforts.
Include information about the communication channels
- Review the drafted project charter with the team managers
- Authorize the project from stakeholders and other participants to either
start or continue.
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Format of Free Project Charter Template
There is our free project charter template in Word and PDF. This template is fully editable and can be mold according to your project’s requirements. Our project management charter template includes:
- Reasons for the project
- Project Name
- Project managers and staff
- Goals and purpose
- Scope of Project
- Project Requirements
- Risk identified
- Expected outcomes of the project
- A general overview of the budget
- Who the main stallholders are
The Benefits of Having a Project Charter
An efficient project charter is essential in the completion of the project. Without it, a project loses its direction. Below are some benefits of having a good project charter:
- It ultimately reflects all reasons for initiating a project.
- It gives ways to solve any issues or concerns about the project. Also, identifies the major stakeholders and contributors to the project.
- It clearly defines the relationships between all the members involved in the project.
- It shows all objectives of the project.
- Improves the communication between the project manager, the
stakeholders, and all the members. Further, it gives identification to the roles and authority of all the members involved in the project.
- It allows the project to be concise and progress well.
- Approves the project and announces its beginning.
- It justifies the support of the management to the whole project. Also, defines the schedule, scope, budget, restraints, and deliverables of the
- It can act as a basis for gaining project sponsorship.
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Top 6 Frequently Asked Questions about Project Charter
There are many questions in the FAQ list of The Ultimate Guide to Project Charter Template with Samples & Examples. However, the top 6 and the basic ones are:
A project charter template contains a detailed summary of the project.
The sponsor or stakeholder signs the project charter.
Yes, a project charter legally authorizes the launch of the project.
Write Project name, Purpose, objective, Budget, Scope, Deliverables, Stakeholders, milestones, Team roles and responsibilities.
An example of the project charter is when an institute is founded and a document made to define the college’s policies.
A charter template contains a complete summary of the essence of the project. It acts as a document of agreement between the stakeholders, the sponsor, and the project team.
Finally, it was all about the “The Ultimate Guide to Project Charter Template with Samples & Examples”. Please do share your feedback in the comments section and keep visiting us to learn more about Project Management.
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