The amount of needed information depends on the project. Specifically, it depends on how high the risk of failure is for the project. If the project has no preceding technology, then understandably the risk of failure could be higher due to the lack of information and needing to have research and development. This is why many projects that go through the FDA are just minor updates to existing FDA approved products. This is because it provides companies with more information and decreases their risk of failure to both complete the project and risk of not getting FDA approval.

I reviewed Dr. Simon’s website, Spiral Medical Development ( https://www.spiralmeddev.com/)and it is a very nice consulting website. I am not familiar with MD consulting but it is very informative and pleasant to the eye, as well as very well organized. This question is a very murky situation to be in and as I am learning about Project Management. I am learning it is actually more common than most people are away. I do know that the amount of information that is needed for a project can vary from company to company, from what I have read, more so with smaller companies because it is just out of the developmental phase. There is certainly no one standard procedure for all companies big and small. I think it is important for team members to understand why the project is happening and what are the guidelines that govern what the small business is able to do. Understanding the scope of the project, expectations, requirements, resources, and risks should be obvious to all from the outset. All this information is needed at least the basics before having a formal prophecy proposal or formal project initiation. It is important because without this information, they may not have a clear understanding of the project and at that point, scope creep can begin to slide in because the team does not either understand what the project is all about or not much information was derived. Scope Creep is something that has been previously covered in class and I wrote about it I believe two or three weeks ago.  Regarding small companies, if they do not make use of the stage-gate, then a method that focuses on the essential steps and does not waste time on unnecessary steps is in order. From what I read, in place of a stage-gate, a project charter can be used, a project charter provides a formal outline for a project in an organization. It covers the scope of what the project will achieve, as well as the people involved, milestones, budget, and possible risks.  

Beginning a project is invigorating, yet you should do your due to initiate early to guarantee you get going on the right foot. It’s critical for how to make a venture contract, characterize scope, distinguish goals & designs, and set task. 

The starting stage is the initiation stage, where the venture is started off, both with your group and with any customers and partners. Any data you have like a pitch for example is assembled to set and characterize the task's extension, timings and cost. This is the center set up for your venture where you distinguish the partners, the group, objectives and destinations and expectations.The initiation stage incorporates every one of the means you should take before a task is endorsed and any arranging starts. The objective is to characterize your task at a significant level and tie it into the business case you wish to address.

You ought to have the option to address two inquiries when in the initiation process - for what reason would you say you are doing this project and what is the business esteem you hope to convey? Consider the possibility of your venture and the entirety of the partners that might be influenced or require inclusion.