Question: Project formulation and conceptualization Explain the importance of project formulation and conceptualization in the project management process. What are the key components of project formulation.

Project formulation and conceptualization

  • Explain the importance of project formulation and conceptualization in the project management process.
  • What are the key components of project formulation.Discuss each component in detail.
  • Describe the steps involved in the project conceptualization process.
  • What is a project charter, and why is it important in project formulation?
  • Discuss the role of stakeholders in the project formulation and conceptualization phase

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