Project Initiating
Alec Waterworth, Carl Gavin · 2024
This chapter examines the first stage of the project lifecycle: Initiating . This includes how the opportunity or problem to be addressed is first identified, followed by how this is developed into a business case of the project’s costs, benefits, and risks. This includes different methods for the financial appraisal, which will play a key part in the evaluation and selection process for determining whether the project will proceed to the Planning stage. We also discuss the bias and misrepresentation that can challenge the objectivity in the assessment of a project’s costs and benefits. Finally, we outline the documentation by which the project’s formal authorisation is recorded: the project charter or project initiation document .