A project charter is a formal, typically short document that describes your project in its entirety — including what the objectives are, how it will be carried out, and who the stakeholders are. It is a crucial ingredient in planning out the project because it is used throughout the project lifecycle.Click to see full answer. Correspondingly, what is included in a project charter?The project charter includes: The purpose and objectives of the project in clear, concise language. Requirements of the project, very high level, not much detail here. You should mark the major milestones so everyone agrees on deliverables or activities that can be expected before the end date of the project. what is the purpose of a charter? A charter represents a document that describes a project, its rationale, its goals and its participants. The purpose of a charter aims at aligning the expectations of all the contributors so that their energy focuses on the project’s priorities. Furthermore, what are the elements of the charter? These four elements are included in the project charter document in addition to the main project charter document sections: business case, problem statement, goals, goal statement, project scope, project plan, and team structure. The R-A-C-I model is also useful when defining the team structure.What is a product Charter?”Product Innovation Charter (PIC): A critical strategic document, the Product Innovation Charter (PIC) is the heart of any organized effort to commercialize a new product. It contains the reasons the project has been started, the goals, objectives, guidelines, and boundaries of the project.