Project initiation is a crucial phase that sets the foundation for a successful project. It involves defining the project’s purpose, objectives, scope, and key stakeholders. By following the right steps and best practices during project initiation, you can ensure a smooth start and increase the chances of project success. This guide will walk you through the ideal project initiation process and provide valuable insights to help you initiate your projects effectively.
Principal Results Resulting From The Project Initiation Phase
The results of each step of the construction process can be different. What are the most notable achievements of the project start phase? What tasks need to be accomplished in order to start a project successfully?
Project Charter
A primary key deliverable of this phase is the project charter. The project charter outlines the project’s high-level data, information on the sponsor, the top-level scope, the high-level hazards, the business requirement, the project manager, and so on are all included.
Identification of Stakeholders
Another result delivered during a project initiation phase is the identification of stakeholders. Stakeholders are defined as “Individuals or groups who may be influenced by the project’s results.” Being able to appropriately handle stakeholders who hold power and influence on a project is critical to having a successful project. Stakeholder evaluation and categorization takes place at the start of a project.
The Managing Stakeholders Plan
During the project’s start, a plan for managing stakeholders is developed. Following the categorizing and evaluation of stakeholders, a good stakeholder management plan is developed. A good example would be when a CEO who will determine whether the project’s product will be released or declined is a crucial project stakeholder. Stakeholders like this must be carefully handled, and their objectives must be met in order for the project to be completed effectively.
You will have to take into consideration that the procedures of project management are recorded using project management templates. So it’s always a good idea to look at examples of these templates to better understand their function.
Beginning with the PMBOK project initiation, project management demands progressive elaboration.
As the project advances and more information about the project is gathered, there will be a need for more detailed planning and organization. Many stages may begin during this phase and be repeated throughout the project planning process, including estimates and defining product scope. As a result, re-planning is done on a regular basis throughout the project.
Project Manager Assignment During the Project Initiation
An important part when following a Project Initiation Checklist is the appointment of the project manager. In the planning stage, the project manager is chosen. This is mostly since while the project is approved, several project management tasks must be organized and supervised right from the start. This job will be done by the project manager in order to prepare the project for success and ultimately complete the project with more efficiency.
In the actual world, unfortunately, this is not always the case, while logic dictates that a project manager be designated as soon as possible, ideally when a project gets approval, this may not be feasible in practice. Project managers are often assigned when a project has already begun. As a result, the project manager must work backwards to create the plan and organize the project.
Business Case And The Importance Of It
Something really important that has to be taken into consideration during all phases of the project is a business case, where it’s explained the reason the project is being started. A project can be deemed a failure then should the business case not meet its conclusion
During the project’s inception, strong planning must be completed.
At the start phase, strong planning must be carried out. This comprises the project’s most important phases and objectives. Comprehensive planning is conducted during the project’s planning phase.
The Formation of a Strong Work Breakdown Structure
The project initiation phase includes the formation of a strong Work Breakdown Structure (WBS). The project’s principle deliverables and packets of work are all covered in this WBS. Throughout the phase of planning, a precise WBS is established.
Order of Magnitude Estimation
This process is made along with the project initiation procedure since it is impossible to produce accurate and exact estimates due to the lack of knowledge about the project and the smaller quantity of information, that is why the variance of the order of magnitude is used to estimate the 50%. This indicates that the real estimated value might be up to 50% more or less than the projected value.
The Project’s Notorious Dangers Are Identified
If these dangers have risk responses, they need to be reported. Comprehensive risk identification and risk response plans, on the other hand, can be done during preparation.
Motives For Following a Project Initiation Checklist and Building a Plan
Business needs, the start of a new phase of a project, or re-evaluation of a business requirement are the three major motives behind a project initiation plan. Business Needs:
Projects are started for a variety of reasons, including business demands, market demand, societal needs, and so on. If the company’s top management agrees to proceed with the project after evaluating the business requirement, the project is approved, and a project manager is chosen to supervise and manage the project.
The Start of a New Phase of a Project
The process group Initiation is prompted at the start of each part of a project, if the project is extensive and there are several sections to it.
Re-evaluation of a Business Requirement
When there are several challenges or disputes in a project and stakeholders begin to critique the business requirements, an initiating process group can be formed. If there are so many disagreements in a project, the rationale for starting the project may no longer be legitimate. In this situation, the business case is re-evaluated by reinitiating the initiating process group.
Sign-up for a 7-day free trial! Try the first two modules of Brain Sensei’s story-based PMP and CAPM Exam Prep courses and a mini practice exam and see how it all works
Conclusion
Effective project initiation is critical for project success. By following the steps and best practices outlined in this guide, you can set a solid foundation for your projects, align stakeholders, and ensure a clear direction from the start. Remember to adapt these guidelines to suit the specific needs and complexity of your projects. With a well-executed project initiation, you can increase the likelihood of achieving project objectives and delivering successful outcomes.
Have you led projects and are looking to earn a project management certification? You might be interested in learning about how lucrative this can be. Check out these articles.
13 PMP Benefits Once You Get The PMP Certification
No experience leading projects but still want to get into project management? No problem! Check out these articles.
CAPM Certification Eligibility
What is a Certified Project Manager; How do I get PM CertificationsProject Initiation