In project management, the first phase is the definition of the project. It includes defining the project scope, objectives and deliverables. It defines the project into all of its details.
Project charter refers to the fundamental project documentation that provides essential information about the project and management team that is responsible to handle it.
Before the presentation of the project plan, the project charter is presented to the investors to let them have an insight into the project.
- The charter templates are used in all phases of project management.
- The project charter is a little different from the project scope of work.
- It is a formal comprehensive document that describes the project scope, objectives, deliverables, and systematic.
- The approach of project completion and the stakeholders of the project.
This is why it’s really important to make an effective, accurate and proper project charter in the first place. As an investor to have a clear understanding of the project, the project charter plays an important role in project management.
About Free Project Charter Template
A project charter template helps to write brief details of a specific project that includes, objectives, the purpose of the project, project scope, and working staff who are participating in this project.
Now, we need some data (information) that covers project specification i.e; project name, type, industry, numbers of employees, project manager name, experience, date of starting and ending dates, etc.
A project is just a contract between the client and the agency while the formal form of SoW is a project charter. Project charter discusses the 7W’s of a project while project SoW just describes the project scope, deliverables, objectives, and assumptions.
Components, Objectives, and Benefits of the Project Charter Template?
A typical project charter is a formal document that covers all the project details with reasoning for everything. The main components of a project charter are; project overview, details, scope, team organization, resource planning, communication planning, signatories and timeline.
It also serves an important role in developing a clear understanding of the project key stakeholders and used as a marketing tool for getting funds. The fundamental elements of a simple project charter document are;
- Project statement and scope of the project
- Success criteria of the project
- Project key requirements and deliverables
- An estimated budget of the project
- Project schedule and milestones
- Project assumptions and constraints
- Potential risks and mitigation strategies
- The project team and the overall view of the organization
- Space for the stakeholder’s approvals
Steps to Make A Project Charter
There is no standard practice to make an effective project charter in project management. It is different based on the nature of the project. Basic guidelines can be described to develop a useful project charter;
- Do the research and gather information about the project. Discuss the details with the stakeholders and the team
- Take and organize the notes of discussions with the stakeholder and teams about the project objectives and deliverables
- Use pre-formatted project charter templates for the drafting purpose to the same time and no value-adding efforts.
- Include information about the communication channels
- Review the drafted project charter with the team leaders
- Present the project charter for approval of sponsors and stakeholders
There are a lot of benefits of project charter in each phase of the project management. It helps to determine the project value, saves time down the road, and gives budget clarity.
It also gives the guidelines to the project team about the project activities, inspires the confidence of core project teams and boosts their morale to play an important role in the success of the project.
Format of Free Project Charter Template
Here is the specific format that helps us to make a project charter;
- Project Identification
- Project Managers Names
- Project Objectives
- Scope of Project
- Purpose of Project
- Project Requirements
- Risk Management Plan and Risk Factors
- Success Rate
- Project investment capital or Budget
- Clients List, Stakeholder requirements
- Employees, roles, and responsibilities