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This video tutorial is about developing a project charter, which is used to initiate a project. The project charter is the first document created once a project is assigned. It assigns ownership of the project to an individual, making it clear who is responsible. The project charter may also be referred to as a Project Initiation Document (PID) in Prince2 terminology. The purpose of the project charter is to outline the project scope, objectives, and stakeholders involved. It is essential for ensuring clarity and accountability within the project team.