The project-initiation process ensures meeting all of the conditions necessary for project success. It starts with a clear understanding and agreement among all of the project stakeholders on the expected project results and ends with a clear understanding of who is responsible and accountable for doing what, by when, to achieve the result.
Figure 5.1 illustrates an overall process to successfully initiate a project. It starts with the project charter, an often overlooked but necessary part of any project. It ends with a project work plan that is sufficient to start work on the project.
The PMBOK™ Guide  separates the project-initiation process from the project-planning process. This chapter considers both of them as part of project initiation. With this definition, the outputs of project initiation include the project charter, project manager assignment, project constraints, project assumptions, and other elements of the complete project plan, including the schedule and budget.
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.