The project charter is a document created by and shared within the project team, and it documents the Lean Six Sigma Project objectives, goals, financial benefits, scope, and tentative timeline. It also identifies the team working on the project. The key elements of a project charter are as follows:
Business case: The business case is the reason and rationale behind doing the project. It is a sort of executive summary or elevator speech about why the project is important and how it is linked to the overall strategy and objectives of the organization. Alignment of the strategic goals of the organization and the project is critical to the success of the program and the business. Generally, the champion or sponsor defines the business case. A few guiding questions to help create a good business case are:
Why should the project be done?
Why now and not later?
What are the potential risks if the project is not done now?
What is the potential impact on the business objectives...