APM Project Fundamentals Qualification (PFQ) Practice Exam 2025 - Free PFQ Practice Questions and Study Guide

The document that outlines the initial agreement between stakeholders and the project team is the Project Charter. This foundational document serves multiple purposes: it formally authorizes the project, defines its objectives, and outlines the roles and responsibilities of the stakeholders involved.

The Project Charter establishes a shared understanding of what the project aims to achieve, thereby facilitating agreement among stakeholders on the project's direction and scope. It includes critical information such as project goals, key stakeholders, high-level requirements, and assumptions, which are all essential for ensuring that everyone is aligned before work begins.

Unlike the Project Schedule, which focuses on the timeline and sequencing of project tasks, or the Risk Management Plan, which identifies potential risks and their mitigation strategies, the Project Charter is not concerned with the execution details. Similarly, the Stakeholder Matrix is a tool used to identify and analyze stakeholder interests and influence but does not serve as an agreement document. Therefore, the Project Charter is the key document that formally encapsulates the initial consensus between stakeholders and the project team.