A Project Charter is a formal document that outlines the purpose, objectives, and scope of a project. It serves as a foundational agreement among stakeholders, detailing what the project aims to achieve and the resources required. The charter typically includes key information such as project goals, timelines, and roles of team members, ensuring everyone is aligned from the start. The Project Charter also acts as a reference point throughout the project lifecycle. By defining the project sponsor, stakeholders, and deliverables, it helps to manage expectations and provides a framework for decision-making. This document is essential for initiating the project and securing necessary approvals.