The IEEE-SA P4001 project aims to establish a comprehensive standard for the specification and calibration of hyperspectral imaging (HSI) systems, ensuring consistency, comparability, and reliability across diverse applications and platforms.  As hyperspectral technology becomes increasingly critical in fields such as remote sensing, medical diagnostics, precision agriculture, and industrial inspection, the need for standardised methodologies to characterize system performance has grown significantly. P4001 addresses this by defining key performance metrics, recommended calibration procedures, and reporting formats to facilitate interoperability and data integrity.By providing a unified framework, the P4001 standard supports manufacturers, researchers, and end-users in evaluating and validating HSI systems with greater confidence.  The project builds on the foundational work of IEEE P4001 working group through collaborative input from academia, industry, and government stakeholders, P4001 promotes best practices and fosters innovation in the rapidly evolving hyperspectral imaging landscape.  The draft standards has now been completed and voted on resulting in the draft now being reviewed by IEEE standards group.