A project charter is a formal document that outlines the purpose, scope, and stakeholders of a project. It is typically created during the initiation phase of a project and often considered the foundational document of a project, serving as a reference point for all project-related decisions.   Typical components of a project charter include: • Project Purpose or Justification • Project Description • Project Scope • Project Objectives • Project Constraints and Assumptions • Project Risks • Stakeholder List • Project Authority • Project Resources • Project Timeline • Project Approval