Initiation

First, you need to identify a business need, problem, or opportunity and brainstorm ways that your

team can meet this need, solve this problem, or seize this opportunity. During this step, you figure

out an objective for your project, determine whether the project is feasible, and identify the major

deliverables for the project.

Steps for the project initiation phase may include the following:

$$ Undertaking a feasibility study: Identify the primary problem your project will solve and whether

your project will deliver a solution to that problem

$$ Identifying scope: Define the depth and breadth of the project

$$ Identifying deliverables: Define the product or service to provide

$$ Identifying project stakeholders: Figure out whom the project affects and what their needs may be

$$ Analysis: Use the above criteria to compare the potential costs and benefits for the project to

determine if it moves forward.

$$ Developing a statement of work: Document the project$$s objectives, scope, and deliverables that

you have identified previously as a working agreement between the project owner and those

working on the project