James is assigned to a project and discovers there is no early documentation. He discusses this with his sponsor, who agrees this should be corrected, and asks James to help with creating the project charter. Did the sponsor do the right thing?

Group of answer choices

Yes, the project charter can be written solely by the Project manager.

Yes, the project charter can serve as a documented agreement between sponsor and project team outlining value exchange.

Yes, the project charter gives formal authorization to the project manager and so he can create this document.

No$,$ the project charter must be created by the sponsor.