Initiating a Project

Abstract

When a new project is being considered, the funder needs to know enough about the venture to make a reliable investment decision. The details necessary to support such a decision are presented formally as a business case. It is during initiation (the first of the four global phases spanning the life of a project) that the business case is assembled and appraised. This chapter explores initiation in some depth�including discussion about the processes involved, the roles filled by key players, the tools that are used and the structure of the business case itself.