A project charter is crucial in sticking to the project plan as it serves as a reference point for all stakeholders. It outlines the project's goals, scope, technical requirements, risks, constraints, assumptions, and dependencies. This comprehensive information sets expectations and provides a common understanding for everyone involved. It acts as the 'source of truth' that keeps all stakeholders grounded and aligned with the project plan. This alignment helps in avoiding deviations and ensures that everyone is working towards the same objectives, thereby aiding in successful project execution.

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Ultimate Project Management Toolbox

Have you ever wanted to run a project like Elon Musk? What about the ability to predict a project’s success like a financial analyst at Goldman Sachs?...

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To apply the concept of first principles to your own projects, you can use a project charter to unite all internal and external stakeholders around a common purpose. A project charter is not only the "elevator pitch" for your project's goals but outlines the scope of the project as well as its technical requirements, risks, constraints, assumptions and dependencies. These core principles of a project set expectations as the project develops, and can be used as the source of truth that grounds all stakeholders to stick to the plan.

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A project charter serves as a crucial tool in aligning both internal and external stakeholders around a common purpose. It provides a clear understanding of the project's goals, scope, technical requirements, risks, constraints, assumptions, and dependencies. This comprehensive overview sets expectations as the project develops, serving as a source of truth that encourages all stakeholders to adhere to the plan. It not only unites everyone involved but also helps prevent misunderstandings and conflicts, ensuring smoother project execution.

A project charter can be used to manage the expectations of stakeholders in a project by serving as a clear and concise document that outlines the project's goals, scope, technical requirements, risks, constraints, assumptions, and dependencies. It sets the expectations for the project and serves as a source of truth that all stakeholders can refer to throughout the project's lifecycle. This helps to ensure that everyone is on the same page and understands what is expected, which can help to prevent misunderstandings and conflicts.

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