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 information about the project manager, key stakeholders, and the overall timeline. The project charter also helps to align expectations and provides a reference point throughout the project lifecycle. By clearly defining roles, responsibilities, and deliverables, it ensures that everyone involved, including team members and sponsors, understands their contributions to the project's success.