While Project Charter is really a topic you should study in Integration Management knowledge area, it doesn’t hurt to understand what a Charter really is and how there actually is a charter for Programs and Portfolios too.
Charter is one document that is common across Projects, Programs and Portfolios. A Charter is used to define the objectives, goals and initiate the work. Charter also lists the known constraints and gives the authority to the respective manager to get started.
Before going over the respective charters, you must know the difference between Projects, Programs and Portfolios.
The Project Charter contains project description, summary of project schedule and business case. The Project Charter also lists the name of the Project Manager, thus authorizing him/her to start the project work.
The Program Charter defines the shared benefit that the program aims to achieve as well as the list of projects included in the program. Just like the Project Charter, Program Charter also clearly mentions the name of the Program Manager.
The Portfolio Charter talks about the strategic benefits that a portfolio aims to accomplish. It also contains the list of programs and projects that make up the portfolio. The name of the Portfolio Manager is also mentioned.
You should know much more about Project Charter for your PMP Exam. It is covered in Integration Management knowledge area
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