What document is essential for guiding the project execution and assessment?

The project charter serves as a foundational document that outlines the purpose, objectives, and scope of a project. It establishes the framework within which the project will be executed and assessed. This document is essential because it helps align the stakeholders' expectations and provides a clear reference point throughout the project's lifecycle. It typically includes vital information such as project goals, key stakeholders, resources, timelines, and intended outcomes, setting the stage for planning and implementation.

While other documents like the project report, design specifications, and feasibility study also play important roles in the project process, they serve different functions. The project report is used for communication of the project's progress and final outcomes, design specifications detail the requirements for the product being developed, and the feasibility study assesses the viability of the project before it begins. Each of these has its own importance, but none provide the overarching guidance for project execution and assessment as effectively as the project charter does.