[0:11]I'm Dr. Leo Mendel Rosario of UP Open University. The project initiation phase marks the start of a project and is the first phase in the project management life cycle.
[0:28]In this space, high-level decisions are made regarding why a project is justified in terms of cost, impact, etc. Whether or not it can be done in terms of visibility and what is needed in terms of resources. Project initiation is defined as the process of formally recognizing that a new project exists or that an existing project should continue into its next phase. It is important to start strong by anchoring new projects on business needs, defining solutions to existing gaps, highlighting PO3, which are P for purpose, and three Os for outcomes, objectives, and outputs. Clarifying stakeholder expectations, defining project scope and project member rules and building consensus and agreement among stakeholders. After conducting situational analysis, ideation and brainstorming of the project proposal can be started. Inputs from the situational analysis are integrated in the concept project proposal. A project charter is a written document that outlines key components of a proposed project in terms of purpose, objective and scope. A project charter is a document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides a project manager with the authority to apply organizational resources to project activities. On the other hand, a project requirement document is a formal document used to communicate the project requirement to stakeholders. Understanding both a project charter and a project concept proposal improves project initiation. Both documents serve different purposes in the project life cycle as they are created at different project phases.
