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ih37 replied to the topic Initiating a Project Idea in the forum Introduction to Project Management 6 years, 2 months ago
As we learned in lecture, all projects have a life cycle that dictates how smoothly the design process is going to flow, which in turn determines the overall success of the product upon entering the market. The initiation phase can be considered as one of the most difficult phases of the cycle because it requires a substantial amount of convincing in the sense that your project is going to turn a profit. This phase is essentially where investments, commitments, and agreements need to be made. Initiation can mainly occur by presenting lucrative ideas and demonstrating how far ahead one can plan to ensure these ideas come to fruition so that the company can prosper. The initiation phase itself can be though of as overcoming inertia to get an object moving: the greater the mass (the bigger the project), the more effort there must be initially to get the object moving (get the project going). Once the project has passed the initiation phase, it should ideally run a lot smoother for the remainder of its life cycle.
An online look at project management methodology states that there are six key steps that need to be taken to initiate a project (Method 123 website: Initiation Phase Review):
1) The Business Case – Presents the costs and benefits of each approach to a proposed project and hopes to predict the long-term revenue.
2) The Feasibility Study – Addresses potential conflicts throughout the design cycle along with corresponding solutions.
3) The Project Charter – Defines the purpose, objective, and how the project will overall be structured throughout its life cycle.
4) Appoint the Project Team – This step states the requirements, responsibilities, and qualifications that an individual must have to acquire a role on the project team.
5) Project Office Checklist – This applies to the physical premises that the project is taking place and ensures resources, such as office supplies, technical equipment, and proper staff is accounted for.
6) Project Review – Determines whether or not the team has met the requirements to go about its proposed project and if any last-minute changes need to be addressed.
What other strategies are there for overcoming the initiation phase of a project? What could happen to the project team if the last-minute changes made at the sixth step take too long? If a project is aimed at treating a condition that only a small number of people have, is it likely to pass the initiation phase?