Project Initiation is the first phase of any project: it is the earliest possible period when a project takes its rise in all possible terms. On this phase any project has the highest risk to be rejected, or in other words it has the highest chances to be never transited from the idea or concept to real actions. When someone decides to start up a new project he gets charged with a critical task – to justify this project, and to prove the project relevance and feasibility to potential financiers or customers (this makes possible for a project initiator to pretend to a sponsorship or competent support).
Classical life-cycle of Project Management implies that Project Initiation precedes Project Planning phase. Project initiation in its traditional format has certain common scenario which is recognized and accepted by many organizations, but with certain corrections and specifics.
Basically the project initiation schema involves the following steps:
- Generating a project idea or concept;
- Developing a Business Case (justifying a problem to be solved);
- Defining your project goals and scope;
- Undertaking a Feasibility Study;
- Requesting funds and support from Sponsors;
- Establishing the Project Charter;
- Appointing the Project Manager and assembling the Team;
- Setting up the Project Office;
- Performing a Phase Review;