The different stages of project includes initiation, planning ,execution ,managing and control , closing. In the initiation phase of a project ,the project meeting are quite important which states the roles and responsibilities of individual working on the project it is important to bring all team member on same platform of understanding because everyone have different perception about the project. Furthermore, If a project team gets consistent with senior level support they can get resources need to complete the project. there are several risk that should be taken into consideration like risk related to schedule, new vendor or new technology, deadlines, budget, stakeholder. Understanding the company expectation at early stage of project will save a lot of time. The initiation should include the proper scope means what you are doing, how you are doing it and what are the outcomes ,resulting in investments and sponsorship required to ensure the success of a project. The market needs should be defined like who will use the product ,how will the people interact with product, how the other product will interface with your product.