PRICE2 – Initiating a Project Process | Initiation Stage

The Initiation Stage (IP) is the first stage of the project after the approval from the Project Board. The Project Manager (PM) does most of the work by taking help from others like Executive for the Business Case, Users & SMEs for the Product Descriptions & Estimations.

The Product Initiation Document is the output in this stage and consists of the following:

• Project Plan


• Product Descriptions


• Business Case


• Strategy documents ( Quality, Risk, Configuration and Communication Management)


• Project Controls


• Team Structure, Roles and Responsibilities

All the information is provided to the Project Board and based on the assessment, especially considering the factors like Risks, Benefits and ROI information, the decision is made to go ahead or not.

The IP stage takes longer time than the SU stage.

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PRICE2 – Initiating a Project Process | Initiation Stage