Chapter 2
Project Charter
Stakeholders discuss many ideas for possible projects; not all these ideas become projects. Ideas become projects when the beneficiaries of the ideas commit to the planning and execution of the idea. This commitment takes the form of a formal or informal contract. Informal contracts are often incomplete, unclear, verbal, and subject to misunderstanding and inaccurate recollection. Formal contracts are written and approved in writing by the stakeholders doing the work, and the stakeholders paying for the work. A project charter is similar to a formal contract; it solidifies the relationship among key stakeholders and documents the work to be done at a high level.
A project charter documents the commitment to the project, ...
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