Project Charter is a primary document that states contains initial requirements for a project to meet the expectations of stakeholders. Formally, Project Charter is an agreement between an organization which is committed to producing a product/service and a customer which requests and receives the product/service. Practically, Project Charter is a planning tool that helps set obligations, rights and privileges for all groups and individual involved within a project.
Project initiation stage – Project Initiation Document (PID). Duties of project owner and project team
The project initiation is the first project stage which usually entails generation of concept behind a new project (project conceptualization). The primary purpose of the project initiation stage is to establish the scope of project, discover its boundaries and specify what the project should accomplish.