The project initiation phase is the first phase of the project life cycle. During this phase, the project's need is identified, and the project's feasibility and viability are evaluated. It is essential to establish a clear understanding of the project's objectives, scope, timeline, budget, and risks. The main importance of project initiation is to ensure that the project aligns with the organization's strategic goals and that there is a clear understanding of the project's feasibility and viability.

The key objectives of project initiation are as follows:

1. Define the project's scope and objectives
2. Identify the project stakeholders and their requirements
3. Determine the project's feasibility and viability
4. Define the high-level project plan
5. Develop the business case for the project
6. Establish the project governance and decision-making structure
7. Define the project team roles and responsibilities
8. Establish the project charter