What is a project charter?

A project charter is a foundational document that plays a crucial role in project management. It is created at the beginning of a project and serves to formally authorize the project, which is essential for establishing its legitimacy and ensuring that all stakeholders are aligned on the project’s goals and scope. The charter outlines key elements, such as the overall objectives of the project, the stakeholders involved, and the roles of the team members. This clarity and formal authorization help in setting expectations and providing guidance throughout the project lifecycle.

The other options, while related to project management, do not capture the essence of what a project charter is. A list of project tasks and deadlines pertains to project planning and scheduling, which happens after the project charter has been approved. A contract between the project manager and stakeholders refers to the agreements or obligations binding the parties involved, which is a different aspect of project management. A budget estimate, on the other hand, focuses solely on financial aspects and does not encompass the broader scope of project authority and objectives defined in a charter. Thus, the project charter is integral in laying a solid foundation for successful project execution.