Project Initiation — part 1
There are four different phases of the project life cycle
- Initiate
- Plan
- Execute
- Close
In this, we will talk about the phase
Initiation begins after the problem or opportunity has been identified within the project in the organization which fulfills the specific need of the business.
It's the PM's job to identify project goals, resources, and details based on initial discussion with the stakeholders, it's the PM's job to figure out all the important pieces that need to come together to get the job done.
The initiation phase is about
- Asking the right questions to stakeholders
- performing research
- determining resources
- documenting the key components of the project
For example, without sufficient understanding of the project’s goals, you might underestimate what resources you need or how long the project might take. Or, without agreeing with stakeholders on what success looks like you might think the project was completed successfully, while the stakeholders might think it didn’t accomplish their goals.
Proper initiation also helps ensure that the benefits of the project outcomes will outweigh the costs of the project
In the next part, we talk about key components of project initiation with an example.
