Which document provides a formal summary of a project’s needs, scope, and benefits?

The project statement is a crucial document in project management that succinctly outlines the project's needs, scope, and benefits. It serves as a formal declaration of what the project aims to achieve and why it is essential to undertake.

By detailing the requirements and objectives of the project, the project statement helps stakeholders understand the overall purpose and expected outcomes. It defines the parameters within which the project will operate, clarifying both the scope—what is included and what is excluded—and the benefits, which are the positive impacts or value that the project is anticipated to deliver.

Other documents, such as a project plan, provide more detailed methodologies, timelines, and resources required to execute the project but do not encapsulate the project's high-level overview as effectively as a project statement. Similarly, a strategic overview might focus more on alignment with broader organizational goals rather than specific project details, while an operational guide relates more to implementation procedures than to the formal summary of project intent. The project statement is essential for aligning stakeholders’ expectations and serves as a foundational reference throughout the project's lifecycle.