Explanation
The project charter is the document that is created first after the project is awarded and the statement of work is handed over to the project manager. The project charter is a high-level document that formally authorizes the initiation of the project and defines the project vision, objectives, scope, deliverables, stakeholders, roles and responsibilities, assumptions, constraints, risks, and success criteria. The project charter also identifies the project sponsor, the project manager, and the project budget and schedule. The project charter provides the direction and guidance for the project and serves as a reference point for future decisions and changes. The project charter is usually created by the project sponsor or the customer, in collaboration with the project manager and the business analyst, and approved by the key stakeholders. References: [IIBA BABOK Guide v3], section 5.1.1, page 161; CBAP / CCBA Certified Business Analysis Study Guide, chapter 6, page
233; CBAP Sample Questions, question 243.