The organization should ensure that for each project appropriate project plans will be made which progress through defined stages which at a minimum address:
- Initiation.
- Planning.
- Execution.
- Control and management.
- Closing.
Initiation
A business case should be developed defining project objectives, supported by metrics and processes for benefits realization. The business case should be approved and signed off by relevant stakeholders.
The project initiation phase should address at a minimum the following:
- Identification of stakeholders.
- Business evaluation/feasibility.
- Technical evaluation/feasibility.
- Documented decision making and signoff.
- Communication of project approval.
- (High level) Risk identification and mitigation plans.
