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 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.
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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
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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.