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Hi Neha ;
It is created only once as part of Project Integration Management Knowledge Area and Initiation Process Group.
Amr is right that in most "real world" cases, there would be a single charter authorizing the overall project's existence. For large projects which are following a rolling-wave approach, it is possible that the charter might be re-visited and tweaked at the start of each phase, but if there was the need for any kind of major change to the charter content, you'd likely be better of winding down the current project and starting up a new one with a new charter.
it depends if the charter for the first phase is the charter for the full project or not. The purpose of the charter is to give authority to the project manager to execute the project.
Normally, in most cases, this authority is granted for the full project, even if scope, schedule and cost change (hence we need change management).
A project charter is the "contract" between all the "actors" that will take part of the project. Because of that it has to be created before the initiative starts. Is the commitment for everything that will happened in the future. If not project charter approved (or the way you like to call it) then a project does not exists. It must not be "a Bible" in extension. One or two pages are enough. Usually the project kickoff is based on it. "Speak now or be quiet forever" is the key idea which drives the project charter. It does not mean that will not be changes in the future. But the basement, the foundation must be inside the project charter.
I agree with Kiron.
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