Project initiation is the first phase where the project is formally defined and authorized.
Purpose:
Good initiation reduces rework and failure later.
A business case explains the reason for the project and justifies investment.
Typical contents:
Exam tip: Business case answers should mention benefits + costs + justification.
A feasibility study checks whether the proposed project is practical and viable.
Common types (remember TELOS):
If feasibility is poor, project may be postponed, redesigned, or rejected.
Cost–benefit analysis compares:
Decision rule (simple): proceed if benefits outweigh costs and strategic alignment exists.
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Project initiation is the first phase where the project is formally defined and authorized.
Purpose:
Good initiation reduces rework and failure later.
A business case explains the reason for the project and justifies investment.
Typical contents:
Exam tip: Business case answers should mention benefits + costs + justification.
A feasibility study checks whether the proposed project is practical and viable.
Common types (remember TELOS):
If feasibility is poor, project may be postponed, redesigned, or rejected.
Cost–benefit analysis compares:
Decision rule (simple): proceed if benefits outweigh costs and strategic alignment exists.
A project charter is a formal document that authorizes the project and gives the PM authority to use resources.
Importance:
Charter is typically issued by sponsor/management.
Common elements:
A scope statement describes what is included and excluded in the project.
It usually includes:
A clear scope statement helps prevent scope creep.
In exams, mention: charter approves the project; scope statement controls work.
Stakeholder analysis identifies stakeholders and plans how to engage them.
Steps:
This reduces resistance and improves approvals.
A simple tool to prioritize stakeholders:
This is a common 5-mark diagram.
Identify need → Business case → Feasibility → Charter approval → Start planning
High power
| Manage closely | Keep satisfied
|------------------|----------------
| Keep informed | Monitor
+---------------------------------> High interest
From this topic
Project initiation clarifies the need and objectives, checks feasibility, identifies key stakeholders, and produces authorization (charter) to proceed. It reduces later rework by setting clear direction.
A business case justifies the project. Contents (any three): problem/opportunity, objectives/benefits, cost estimate, options and recommendation, risks/assumptions, high-level timeline. It supports approval decisions.
A business case is a document that explains why a project should be undertaken and justifies the investment.
Contents (key points):
Need → Options → Cost/Benefit → Recommendation → Approval
Thus business case supports decision-making and ensures strategic alignment.