A template is a project "outline" that can be used to create new projects, programs and portfolios.
Templates are created from existing projects, programs or portfolios, and can include specific team members and workgroups, along with application items like documents and tasks.
Templates provide a convenient way to create new projects, programs or portfolios with specific default settings.
For example, if an organization were to regularly create marketing materials, it could create a template called "Brochures" that contained document templates and a corporate style guide, as well as specific team members who are necessary for creating the brochures and a task schedule for the process.
Then, each time the organization had a need for a new brochure project, it could use that template to create the project.