The goal of the project initiation procedure is to get a project started. Important questions about the project’s necessity and viability are addressed, and decisions are taken about how to proceed. The project beginning phase is where the project’s goals, objectives, and schedule are defined.
Quick Link to Specific Topic:
- What is project initiation?
- Why is it important?
- The project initiation process has the following goals:
- 06 steps for project initiation process
Pre-Project Activities
What is project initiation?
The project initiation phase is the first step of the project management life cycle because it involves the start of a new project. The business problem or opportunity is identified during the initiation phase, a solution is defined, a project is formed, and a project team is appointed to build and deliver the solution to the customer.
Why is it important?
The start phase is not only a nice-to-have in project management; it is a required and, more importantly, decisive step in which the project is either approved or rejected.
- During this phase, important choices that set the project’s direction and resource requirements, such as the project charter and the selection of project stakeholders, are made. The stakeholders agree on a clear goal to guarantee that everyone is on the same page about how the project should continue.
- There will be numerous inspections throughout and after project execution to prevent confusion and guarantee the project continues on track. However, valuable time and money may be squandered, which is undesirable.
- Effective project management necessitates maximizing benefits while minimizing expenses while providing ‘value’ to the customer. Having a defined project purpose will assist you in accomplishing all of this.
Starting a new project is thrilling, but before you get started, make sure that your endeavor will genuinely provide value. That’s where project initiation comes in—it provides a methodical strategy to demonstrating your project’s business case and demonstrating that the work you’ll accomplish is doable. Project initiation also guarantees that you involve stakeholders early on, allowing you to obtain critical resources, establish visibility for your project, and avoid costly bottlenecks later on.
03 Questions to Ask Yourself
- What is the purpose of the project
- Why approve this project?
- Why we are budgeting for this project?
- What are the goals and objectives of this project?
- What is the return on investment?
- What are the main critical pieces and components?
- In the eyes of this project, what is a success?
- How will it be measured?
- Have you preferred the Measurement matrix?
The project initiation process has the following goals:
- To outline the project’s goal and expectations.
- To determine the project scope in order to ensure that the project tackles all of the relevant aspects.
- To create precise project milestones and timelines to enable a smooth flow of events throughout the project
- To create project deliverables that are in line with the goals and expectations of the client.
- Identify all stakeholders who will be directly or indirectly impacted by the project.
- To come up with a sufficient budget - at this step, a budget estimation for running the project is prepared
- To identify the project’s risks, difficulties, and interdependencies.
06 steps for project initiation process
Developing a Business Case
The first item on your project start checklist should be a business case. A business case serves as the foundation of every undertaking. It provides an answer to the question, “Why are we even doing this?” A robust and comprehensive business case can not only justify an initiative’s budget but also help sell the idea to senior management inside your firm.
Even the name says it all: the purpose of such a case is to show how the proposed project connects to the business without going into excessive detail or preparation. Consider this section to be a project pitch (which it is). You must explain why you are launching the project. After all, the ultimate purpose here is to demonstrate how the project’s objectives match with the company’s long-term goals.
In other words, you must create a business case and pitch it to your company’s higher management. This project start document should be concise, logical, clear, and, most importantly, relevant to the audience. This is why, when writing your business case, you should stick to a pretty simple and widely recognizable structure. Here is an example you might use:
- Preface
- Table of Contents
- Executive Summary
- Projected costs
- Expected benefit
- Conclusion
- Appendix
Business cases are critical in project start because they provide an initial assessment of the value of organizational support and finance for a project.
## Conducting a Feasibility Study
Following the approval of the business case, the next step is to assess the likelihood of the project’s success after taking into account all of the criteria. This analysis evaluates the project’s high-level restrictions and assumptions and determines if the project is worthwhile.
You should begin by formulating project assumptions, identifying high-level restrictions, and potential dangers that could stymie or halt your project’s progress. A feasibility study is essentially this “better safe than sorry” strategy that will provide you with the necessary reassurance to proceed with the project.
When planning the study and conducting analysis, you have the opportunity to assess all available and missing resources, your capacity and available money, and how practical the planned time frames are. You can examine the big picture and determine whether the project is valuable by examining possibilities, threats, and solutions.
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Does my team have the required resources to complete this project?
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Will there be enough return on investment (ROI) to make this project worth pursuing?
Develop a Project Charter
This activity involves project authorisation through recording of project elements such as objectives, constraints, stakeholders, identified risks, and budgets involved in project implementation. As a result, it serves as a foundation for defining project decisions and ensuring that they are consistent with the company’s aims.
WHAT?
- What is the scope of the project?
- What are its objectives?
WHO?
- Who are the team members, stakeholders, and customers that will be directly or indirectly involved in the project?
WHEN?
- When do we need to have it done?)
If you follow the procedure in the recommended order, this is where you will begin to go much deeper into your planned project. Goals, purposes, restrictions, and possibilities clearly specified, project scope and required resources identified, general project structure outlined, deliverables determined - if your project charter addresses all of these things, you’re off to a solid start.
Identify Project Stakeholders and Their Impact
Standard project initiation processes include stakeholder analysis. Stakeholders are any individuals who have a connection to the project, whether they be members of your team, the client, end customers, partners, or others.
It is critical to identify all project stakeholders because complicated initiatives have a profusion of demands, aspirations, and opinions. The more people you include in the early stages of identifying these goals and needs, the easier it will be for the team to agree on a shared goal. A shared vision will help keep the group moving in the same direction. Understanding stakeholders is critical for not only efficiently managing your project, but also ensuring your team meets its project objectives.
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Who needs to approve my project?
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Who will provide resources for my project?
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Who can influence my project?
Recommendig to use a stakeholder managment complaince with your organizational practice.
Team formation and tool selection
Without a team, it is impossible to begin a project successfully. The good news is that having a well-written charter in hand will make it easier for you to discover the ideal personnel for the project because you will already know what expertise you need in the picture for it to succeed. Another advantage of project management initiation is that you can learn about the types of individuals you will be working with early on. You get to assemble the most relevant team, set roles and duties, and boost team accountability from the start. As a result, everyone will be personally involved in the project’s success.
Another factor to consider during the project management start phase is the project venue, sometimes known as the project office. It is the physical area that you and your team will be working in, such as an office or a temporary work site. This is where you must ensure that the office you select has the necessary tools, equipment, and communication infrastructure for when the project begins.
- A good team can go a long way in making your project a success
- Consider how you want to organize your team structure
- Where you work can influence how you work.
- Choose the right tools.
Putting the final touches on
Project commencement and planning may be a complicated process, so taking the time to double-check that you have covered all of the necessary steps is a smart idea. Project management success is strongly predicated on continuous review and monitoring at all stages of project progress. The more convinced you are that all of the phases are in good working order, the less ambiguity will hover over your head.
When you finish the review step, there is usually one final project initiation meeting that will either make or break the project. With a business case, feasibility study, and project charter on the table, you have all the cards you need to close the deal and make the project official. This is the point at which your project’s beginning phase concludes and the planning phase begins.
Whether you are a seasoned project management professional or a novice trying to learn the rules of the game, following the six stages outlined above should make project initiation a smooth and easy experience. With the project beginning phase completed, you can safely proceed to the next project management stages that will get you closer to the finish line. And, to make your journey more enjoyable, consider joining up for a free trial with Forecast to experience how much of a difference an AI-driven project management system can make.
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Rafayet Hossain
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