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Jennifer Whitt, director of projectmanager.com, discusses the importance of a project charter in this whiteboard session. Many organizations may not realize they are actually creating project charters under different names such as an s o W or a statement of work, an er D or an estimate response document, a B C or a business case, or simply a quote. Regardless of the name, the project charter is crucial at the beginning of a project to formally authorize it. Common elements found in a project charter include the project's purpose, objectives, scope, stakeholders, budget, and timeline.