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In this video tutorial, Jennifer Whitt discusses the importance of a project charter, which is crucial at the start of a project. She clarifies that project charters may be known by different names in various organizations, such as SOW, ERD, ABC, or simply a quote. Regardless of the name, the project charter serves as formal authorization for a project. Common elements found in a project charter include setting the project objectives and scope, identifying key stakeholders, and outlining roles and responsibilities.