The initiation stage determines the nature and scope of the development. If this stage is not performed well, it is unlikely that the project will be successful in meeting the business’s needs. The key project controls needed here are an understanding of the business environment and making sure that all necessary controls are incorporated into the project. Any deficiencies should be reported and a recommendation should be made to fix them.
The initiation stage should include a cohesive plan that encompasses the following areas:
- Study analyzing the business needs in measurable goals.
- Review of the current operations.
- Conceptual design of the operation of the final product.
- Equipment requirement.
- Financial analysis of the costs and benefits including a budget.
- Select stake holders, including users, and support personnel for the project.
- Project charter including costs, tasks, deliverables, and schedule.