ABSTRACT
Project initiatives philosophically should have characteristics of improving current business processes, growing the business, or transforming the business. Consideration of a specific project proposal involves analysis of the investment level, goal alignment, and organizational capability to accomplish the initiative, inherent risk, competitive needs, and return on the investment, among others. The basic goal of the initiation stage is to evaluate the merits of a vague project proposal vision that is intended to improve some aspect of the organization. It should not be a surprise to recognize that the conversion from a business vision to the related project definition of work required is a complex human communication process. The project charter provides sufficient specification for the planning function to commence and signifies that formal support has been explicitly given by the management signature. At the beginning of a formal planning process the definition of the project requirement is essentially a vision statement based on little real technical analysis.
