Develop a Project Charter using a project charter template (part of the research, and containing the component you mentioned) for the one of the following example:

Currently, the turnaround time (TAT) at the On-Time Volume Inc, is 48 hours. The company goal for this year is 24 hours. On the other hand, the daily volume coverage is approximately 80%. They are trying to increase the daily volume coverage to 90% in 48 hours to 95% in 24 hours. The estimated soft savings, on account of more than 50% reduction in TAT, are equivalent to 257,000 USD. There is also a contractual issue when the goals are not met.