At the very start of the project, there is a point where the project the reason of starting a project is defined with the opportunities. Also, how the project will be developed to take the maximum out of the opportunity.
A project initiation plan isn’t a single document. It is a set of documents that use in all the phases of project management. There are five major phases of project management; initiation, planning, execution, monitoring and controlling, and closure.
There is a specific sort of method and documents for every type of project and business. It defines and sets a timeline for everything required to be achieved at the end of the project.
The project initiation phase usually starts with the identification of a business case. This document describes everything about the opportunity. Like goals, objectives, purpose, tasks, and deliverables of the project.
Identification of stakeholders and setting the project requirements are also the phases of the project initiation plan. The key output of the project initiation plan is the project scope plan that assists in the project planning phase.
What is Project Initiation Plan?
This PID plan includes different kinds of project management documentation i.e; project planning, project scheduling, budgeting, tracking, etc. Every project has its own type of documentation according to project type.
Basically, the purpose of this plan is to set a specific milestone in which working staff can deliver and complete their tasks according to schedule and within the project budget limits.
As we know Project initiation is the first phase of the project management life cycle, in which we set our objectives, scope, purpose, and deliverables.
The project scope plan outlines the goals, objectives, tasks, budget, and deadlines. Also, the feasibility study of the project or business case is calculated in this phase of the project.
Steps of Project Initiation
There are several steps to starting a project perfectly. However, the six most common elements of a project initiation phase are;
Business Case: It’s a document used to describe the reasons for starting a new project. This shows the feasibility of using resources will support the business goals. Also, it explains the nature of business opportunity in terms of adaptability, risk profit analysis and fitting the size.
There is a basic structure of a business case for all the projects. There is nothing related to the technical explanation of the project. It just supports the business concerns of a project.
The generic structure of a business case is a preface, table of contents, executive briefing, business drives, scope and financing of the project, conclusion and the appendix.
Feasibility Study: After the approval of the business case. A feasibility study is conducted to identify problems and solutions. It defines the requirements of a project. It defines the risk and devises mitigation strategies of the project.
Project Charter: It defines the scope, objectives, deliverables, and costs of the project. Also, the procedure of how the project will be executed. Responsibilities of the project team and stakeholders are also defined. It involves the project structure, document the project plan, and list the risks associated with the project.
Project Team: It defines the job description of the project team according to the project charter and plan. It also identifies the roles and responsibilities along with the whole hierarchical structure of the project.
Project Office: A project office is a space where all the resources required for the office work of the project are available. It must be set up with the proper project management office tools and as per standards and processes.
Review: Finally, it is recommended to review the initiation phase of the project. It ensures that nothing has been ignored or miss interpreted. As project initiation documents are used over the whole project lifecycle. Therefore, a proper review of all the project initiation documents is recommended especially the project charter and project team roles and responsibilities.
Elements of Project Initiation Plan Template
Below there are some essential elements of this PID Template;
- Project Goals
- Scope of Project
- Project Organization Structure/communication
- Business Case
- Limitation or Restriction
- Risks Factors
- Project Controlling Approaches
- Project Summary