project initiation process

Project Initiation Process is like planning a big trip. You need to know where you’re going and how you’re going to get there. It’s the first step of starting a project. You need to know what your project is, who is involved, and what the goal is. To help you understand, here’s an example. Let’s say you want to build a tree house. Before you start building, you need to plan what kind of tree house you want, what materials you’ll need, and how long it will take. The Project Initiation Process is like the planning stage of building a tree house. Here are some stats to help you understand project initiation process: • 70% of project success is dependent on good project initiation • 80% of projects fail due to inadequate planning • Only 10% of projects are completed on time and budget An analogy that might help you understand project initiation is like a recipe. Before you start cooking, you need to read the recipe and plan out ingredients and steps. Project initiation is like the planning stage of cooking a dish. Fun Fact: The Project Initiation Process is important because it helps prevent costly delays, mistakes, and miscommunications.