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 helps in securing approval and funding by providing a clear vision of the project. It acts as a reference point throughout the project lifecycle, guiding decision-making and helping to manage expectations among stakeholders, including project managers, team members, and clients.