Project initiation: 4 steps to start projects effectively

A good beginning lays a necessary foundation for successful project management. And with project initiation, you can make sure you're checking all the right boxes before your project kicks off. In this article, we describe why project initiation matters, outline four key steps to start your project off on the right foot, and share common mistakes to avoid along the way.

What is project initiation?

Project initiation is the first phase of project management where you define your project's purpose, scope, and business value to secure stakeholder approval. It sets the foundation for everything that follows, ensuring your project is worth pursuing before you invest significant time and resources.

The term "project initiation" comes from a five-phase model created by the Project Management Institute (PMI). PMI outlines this model in their Guide to the Project Management Body of Knowledge, also known as the PMBOK® Guide. The model divides a project's lifecycle into these five stages:

• Project initiation: Broadly define your project and secure buy-in.

• Project planning: Create detailed goals and a project roadmap.

• Project execution: Launch your project using information from the first two steps.

• Project performance: Measure effectiveness using key performance indicators (KPIs).

• Project closure: Debrief with stakeholders.

Project initiation vs. project planning

During project initiation, you define your project at a high level to demonstrate business value and secure approval. Project planning comes next, when you map out the details. Here's how they compare:

Why does the project initiation phase matter?

Starting a new project is exciting, but it's important to make sure your initiative will add value before jumping into planning. Project initiation offers a structured approach to validate your project and set it up for success.

Here's why it matters:

• Demonstrates business value: You prove your project's worth before committing significant resources.

• Confirms feasibility: You verify that your team can realistically complete the work.

• Secures stakeholder buy-in: You loop in decision-makers early to gain support and resources.

• Prevents roadblocks: You identify potential issues before they become costly problems.

The project initiation process: 4 steps to get started

So you've come up with an enticing new project idea, now what? Here's how to approach this first phase of project management and lay a solid foundation for your new project.

1. Create a project charter or business case

In this first step, you demonstrate why your project is necessary and what benefit it will bring. You can do this with either a project charter or a business case, both of which outline key project details to pitch your initiative to stakeholders.

Regardless of which document you use, this is your chance to demonstrate how your project will add business value and why you need specific resources, such as budget, equipment, or team members.

Project charter

A project charter demonstrates why your project is important, what it will entail, and who will work on it, all through the following elements:

• Why: The project's goals and purpose

• What: The scope of the project, including an outline of your project budget

• Who: Key stakeholders, project sponsors, and project team members

Business case

A business case includes all the components of a project charter, along with these additional elements:

• A comprehensive financial analysis, such as a cost-benefit analysis, including an estimate of the return on investment (ROI) your project will bring

• An analysis of project risks and a risk management plan

• An action plan that includes how decisions will be made (such as a RACI chart), a communication plan, and the next steps you'll take if your business case is approved

2. Identify key stakeholders and pitch your project

Next up, determine who needs to sign off on your project charter or business case. This includes key stakeholders who have a say in the outcome of your project, for example, executive leaders, project sponsors, or cross-functional teams that you're requesting budget or resources from. If you're not sure who your key stakeholders are, ask yourself the following questions:

• Who needs to approve my project?

• Who will provide resources for my project?

• Who can influence my project?

You can also create a project stakeholder analysis and use a stakeholder register to ensure you're not overlooking any important players. This methodology divides stakeholders into four groups: those with high influence and high interest, high influence and low interest, low influence and high interest, and low influence and low interest. Anyone in the first bucket (high influence and high interest) is likely a key stakeholder who should approve your project during the initiation phase.

Aside from key stakeholders, now is also a good time to identify other individuals who may be affected by or interested in your project. While these people don't need to officially approve your initiative, it might be helpful to give them an early heads-up. They may also be able to provide additional support, such as insight or resources.

A strong stakeholder engagement plan during the initiation phase helps you secure approval, support, and resources while increasing project visibility and preventing costly roadblocks later in the project life cycle.

3. Run a feasibility study

At this point, you've pitched your project, demonstrating that it adds value and fits with your company's overall strategic plan. Now, it's time to run a feasibility study to confirm your project is possible with the resources you have at your disposal.

Simply put, a feasibility study evaluates whether your project is feasible. For innovative initiatives, you may also develop a proof of concept to demonstrate viability. It answers the following questions:

1. Does my team have the required resources to complete this project?

2. Will there be enough return on investment (ROI) to make this project worth pursuing?

If you can answer yes to both questions, you have a solid rationale to move forward with your project. If your feasibility study concludes that you don't have enough budget or resources, you've created a strong case to go back to stakeholders and request more. And if your project's ROI isn't up to snuff, you can use that data to tweak your project plan, or pursue a different opportunity entirely.

Does every project need a feasibility study?

Not always. Feasibility studies are typically used for larger projects that require significant company resources. You might skip this step if:

• Your project is small with minimal long-term impact

• You've managed a similar project in the past

• Your competitors are already succeeding with a similar initiative

• You've run a similar feasibility study within the past three years

Keep in mind that a feasibility study takes time and resources to complete, so make sure it's really necessary before you dive in.

4. Assemble your team and tools

Now that your project is approved and its feasibility has been proven, you can finally start assembling your team, workspace, and tools. Here are some pointers to get you started:

• A good team can go a long way in making your project a success, and it can take time to find people with the right experiences and skills. It's a good idea to start this process as soon as possible once your project is confirmed, especially if you need to hire new employees or onboard contractors.

• Consider how you want to organize your team structure. For example, do you want a simple hierarchical structure with team members reporting to a single team lead, or does it make more sense to divide your team by geographical region?

• Where you work can influence how you work. If you're planning to manage your project remotely, make sure you have the right infrastructure in place to support a virtual team. And if your team will work on-site, keep in mind that you may need to request office space well in advance of your project kick-off meeting.

• Choose the right tools. Consider how your team will work together on daily tasks, for example, will you use email, Google Docs, or more robust project management software? You may want to consider a tool like Asana, which allows you to centralize team communication in one place, assign tasks with clear owners and due dates, and easily organize projects tailored to your team.

Once your team is in place, use a team charter template to help everyone understand shared goals, roles, and responsibilities from day one.

Common mistakes to avoid during project initiation

Even with the best intentions, project initiation can stumble if you're not careful. Here are common pitfalls to watch out for, and how to avoid them:

• Unclear objectives and scope: If your project goals aren't clearly defined from the start, your team will lack direction. Take the time to articulate what success looks like before moving forward.

• Insufficient stakeholder engagement: Failing to identify or engage key stakeholders early on can lead to a lack of buy-in, missed requirements, or unexpected roadblocks later in the project lifecycle.

• Skipping the feasibility analysis: Rushing past the feasibility study might save time upfront, but it can lead to wasted resources if the project isn't viable.

• Rushing through the process: It's tempting to jump straight into execution, but skipping or shortcutting initiation steps often leads to scope creep, budget overruns, and project failure down the line.

• Not securing formal approval: Without a signed project charter or approved business case, you risk losing support when challenges arise. Make sure you have documented buy-in from key decision-makers before proceeding.

By taking the time to address these common mistakes, you set your project up for a smoother path from initiation through completion.

Start your next project with confidence

The project initiation phase empowers you to lay a strong foundation for your project. It ensures that you prove the business need for your project, secure the necessary approvals, confirm the feasibility of your work, and begin assembling your team.

With that done, you're free to finalize the details of your project plan and determine your specific objectives, deliverables, milestones, and project roadmap. Ready to put these principles into action? Get started with Asana to manage your projects from initiation through completion, all in one place.

Frequently asked questions about project initiation