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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 in all of its details.

Project charter refers to the fundamental project documentation that provides essential information about the project and the 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.

  1. The charter templates are used in all phases of project management.
  2. The project charter is a little different from the project scope of work.
  3. It is a formal comprehensive document that describes the project scope, objectives, deliverables, and systematic.
  4. 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 Project Charter Template Excel

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 specifications 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 of 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.

free project charter template

It also serves an important role in developing a clear understanding of the project’s key stakeholders and is used as a marketing tool for getting funds. The fundamental elements of a simple project charter document are;

  1. Introduction
  2. Project statement and scope of the project
  3. Success criteria of the project
  4. Project key requirements and deliverables
  5. An estimated budget of the project
  6. Project schedule and milestones
  7. Project assumptions and constraints
  8. Potential risks and mitigation strategies
  9. The project team and the overall view of the organization
  10. 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;

  1. Do the research and gather information about the project. Discuss the details with the stakeholders and the team
  2. Take and organize the notes of discussions with the stakeholder and teams about the project objectives and deliverables
  3. Use pre-formatted project charter templates for the drafting purpose at the same time and no value-adding efforts.
  4. Include information about the communication channels
  5. Review the drafted project charter with the team leaders
  6. 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 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.

Excel Format of Project Charter Template

Here is the specific format that helps us to make a project charter;

  1. Project Identification
  2. Project Managers Names
  3. Project Objectives
  4. Scope of Project
  5. Purpose of Project
  6. Project Requirements
  7. Risk Management Plan and Risk Factors
  8. Milestones
  9. Success Rate
  10. Project investment capital or Budget
  11. Clients List, Stakeholder requirements
  12. Employees, roles, and responsibilities

Six Sigma Project Charter Excel Template

As we know, DMAIC (Define, Measure, Analysis, Improve, and Control) plays a vital role in Defining Phase, that why DMAIC has important in Project completion. In any Six Sigma project, we can say that Project Charter is the first step towards the Six Sigma project.

Both the Six Sigma Project and Project Charter have Identical points but the Six Sigma project provides us more details about the project.

Here are Points that must include in a Six Sigma Project Charter:

six sigma project charter template

  1. Title: In this section, we write down the project name, identity number.
  2. Black Belt: Where we mention the project manager’s name who is leading the project.
  3. Project Champion: Project champion is the person who makes project execution strategies and assists working for staff in the process of Six Sigma process. This person is also responsible for setting goals, deliverables, creation of a business case, constraints and dependencies, making and assigning tasks among the working staff, etc. In fact, this person has the authority of signing off on Project Charter.
  4. Executive Sponsor: Here we put info about the project executive sponsor name.
  5. MBB Mentor: This person deals with Black Belt person when an issue arises black belt concern with MBB Mentor.
  6. Start Date: This date defines when a project will start or when project leaders start a project.
  7. End Date: Project date of completion is defined by MBB Mentor. This evaluation involves the project/business’s current progress.
  8. Primary Metric: In this section, we put info about direct measuring the process outputs, process objective, improvement goal, etc.
  9. Business Case: B.C explains the purpose of the project and its overall outcomes that could affect a company.
  10. Problem Statement: In this section, we write down except and calculated problems that are going to be dealt with. This statement also defines problems and their impact on a project, where it occurs, scope, and critical-to-quality aspects. For this purpose, we can also use SWOT Analysis Method.
  11. Goal Statement: This Statement defines project goals, evaluated outcomes, and targets that are the project purpose. Note: our Goals must be SMART.
  12. Project Timeline: This section defines project timelines.
  13. Project Constraints and Dependencies: This section explains limitations and project dependencies means which things to do first to complete other tasks.
  14. Project Risk: Where we explain project risk factors and its solution. For this purpose, we use a project risk management plan or risk mitigation plan.
  15. Impact on Stakeholders: This section helps us to identify core stakeholders and their impact on a project. And helps to work for staff how they can communicate with them.
  16. Project Milestone: In this area, we define project milestones and complete the task list.
  17. Financial Benefits: It defines what kind of financial benefits we can get from this project. And how we can save capital.

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