Project Charter acts as a first step to develop the complete detail project proposal. Project Charter will be signed off by the management when they are satisfied that the terms of the charter are aligned with the business needs. Project Charter includes: - Executive summary, Project history & objectives, Business Justification (need for execution of the project), Impacts and constraints, Timing & Schedules, Financial statement (funding and assumptions), Project structure, Roles & responsibilities, sensitivity analysis. Objectives of Project Charter 1. To specify the beginning and ending of the project 2. To Identify the exact requirement of project 3. Provide guidance to the project team during the project 4. To measure the success of the project 5. To set performance targets