Initiating a project is definitely a crucial task as it in general clarifies the objectives of the project and what is needed to achieve those object and does not necessarily involve starting work on creating any of the products of the project. You may not exactly know what the project is going to do but one should have sufficiently enough idea of what it will do for for a providing a topic of discussion for business case which illustrates the cost-benefit relationship and the necessary investment needed for the project.