Party Challenges are tasks that players can complete together while playing in Party Play mode in Pokemon Go. Each challenge is predetermined with its own objective, and players can choose which challenge they want to take on. The challenges can be focused on spinning PokeStops, battling in raids, catching Pokemon, and more. Completing Party Challenges gets players in-game rewards. Every group member contributes to the goal of each of their objectives, so if a Party Challenge involves catching a certain number of Pokemon, all Pokemon caught will add to the total. The Party Challenges that have appeared so far include completing raids, spinning PokeStops, catching lots of Pokemon, and catching Pokemon of a certain type. If the time runs out, then incomplete Party Challenges will be wasted, as they cannot be attempted again in the next Party.
In summary, Party Challenges are a fun way for players to work together and earn rewards while playing Pokemon Go in Party Play mode.