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This video tutorial provides a sample template for developing a project charter, which is used to initiate a project. The project charter is the first document created once a project is assigned, serving to assign ownership of the project and clarify roles. It may also be referred to as a project initiation document (PID) in organizations using PRINCE2 terminology. The project charter ensures that everyone knows who is responsible for the project and can provide assistance if needed, regardless of the specific terminology used.