Question

A(n) ____ is a document that formally recognizes the existence of a project and provides direction on the project’s objectives and management.
A. balanced scorecard
B. business case
C. net present value analysis
D. project charter

Answer 1

Answer: D. project charter

Explanation: The major reason of a project charter is to mark the formal authorization of a project and the greenlight to commit organizational resources to the said project. A project isn’t a project until the project charter is approved which is to say that without a project charter, the project can be canceled anytime and for any reason and can be subject to an audit as an unauthorized project. A project charter is a formal, typically short document that describes your project in its entirety — covering the scope the project, objectives, what it will achieve, the people involved, milestones, budget, and possible risks.

The project charter serves to ensure that the project sponsors and all stakeholders are in alignment on a project, that the project manager understands the sponsor's needs and requirements, while providing vital information as a reference document vital to getting the project started.

Answer 2

Answer:

D. project charter

Explanation:

A project charter, is responsible for stating participants, their respective roles, directions and main goals in a project. The project charter must contain the essence of a project and act as a contract between all parties involved, thus, recognizing the project's existence.

Therefore, the answer is D. project charter.