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A Project Charter is a document that serves as a guide for a project. It can be in various formats such as a word document or a PowerPoint presentation. It is equivalent to a project request in some organizations or a Scope of Work (SOW) for external clients. The charter outlines the project's purpose, objectives, scope, and key stakeholders. It is essential for providing clarity and direction for the project team. Stay tuned for a free project charter template at the end of the video.