Launching Excellence: Harnessing Project Initiation for Remarkable Results

Crafting triumph from the onset with “Project Initiation Excellence”

Step 1 – Develop Project Charter

The first and fundamental step in project initiation is to develop the Project Charter. This is a document that describes the project’s purpose, scope, objectives, stakeholders, and success criteria. It is the foundation of the project, and it provides the framework for all subsequent project planning and execution. This document serves as the project’s foundation, defining its purpose, objectives, and high-level requirements. It is typically initiated by the project sponsor or manager and provides essential information to gain approval and secure resources.

Key Components of the Project Charter:

1. Project Description and Justification: A clear and concise description of the project’s purpose, outlining the business need or opportunity it addresses.
2. Project Objectives: The Specific, measurable, achievable, relevant, and time-bound (SMART) objectives that the project aims to achieve, along with criteria to determine project success.
3. Project Scope: A high-level description what is included in the project (in-scope) and what is not included (out-of-scope).
4. Benefits and Deliverables: A description of the expected project deliverables and the benefits that will be realized upon successful project completion.
5. Stakeholder Identification: A list of key stakeholders, including their roles and responsibilities.
6. Project Manager and Team: The project manager’s name, authority level, and contact information, as well as the names and roles of the core project team members.
7. High-Level Milestones or Timeline: A high-level schedule or timeline outlining key project milestones and deadlines.
8. Budget Information: A summary of the project’s budget, including cost estimates and funding sources.
9. Risks and Assumptions: List of potential events or situations (risks) that could have a negative or positive impact on the project’s objectives. Or list of factors or conditions (assumptions) that are considered to be true, real, or certain, when complete information is not available.
10. Constraints: Any known limitations or restrictions that might impact the project and restrict the project’s flexibility, such as time constraints, resource limitations, regulatory requirements, budget limitations or technology constraints.
11. Communication Plan: A brief outline of the communication plan, describing how project information will be shared with stakeholders.
12. References: Any documents or resources referenced in the Project Charter. This may include: Business Case, Requirements and Initial Project Scope Statement.
13. Approvals: Signatures or approval from key stakeholders or sponsors, indicating their agreement to the project and its objectives.

A study by the Project Management Institute, found that projects with a well-defined Project Charter are 40% more likely to achieve their objectives.
The Project Management Body of Knowledge (PMBOK® Guide). Sixth Edition. Newtown Square, PA: Project Management Institute.

Step 2 – Identify Stakeholders

Identifying stakeholders is a critical component of project initiation as it sets the stage for successful stakeholder engagement throughout the project lifecycle. Stakeholders are individuals or groups who have an interest in the project’s outcome or can influence its success. When identifying stakeholders for a project, consider a range of groups or categories to ensure comprehensive coverage. Common stakeholder groups include:

1. Internal Stakeholders:
   • Project Team: Project managers, team members, and supporting staff directly involved in project execution.
   • Project Sponsor: The individual or group providing financial resources and support for the project.
   • Executives and Management: Organizational leaders who oversee the project and provide strategic direction.
   • Employees: Staff members who may be affected by project outcomes or changes.
2. External Stakeholders:
   • Customers and Clients: Those who will benefit from the project’s deliverables or services.
   • Suppliers and Vendors: Organizations or individuals providing materials, resources, or services to the project.
   • Regulators and Government Agencies: Entities, authorities, agencies responsible for enforcing regulations, compliance; permitting, or approval processes.
   • Shareholders and Investors: Individuals or groups with a financial interest in the project’s success.
   • Competitors: Rival organizations or entities that may be impacted by the project.
   • Industry Partners: Collaborators or partners in related industries.
   • Community and Public: Local communities, residents, and the general public who may be affected by the project.
   • Non-Governmental Organizations (NGOs): Advocacy groups, environmental organizations, or community organizations with an interest in the project.
   • Media and Press: Journalists, news outlets, and media organizations reporting on the project.
   • Special Interest Groups: Associations or organizations with a specific interest in the project’s outcomes.
   • Legal and Compliance Advisors: Legal experts who can provide guidance on regulatory and legal matters.
   • Financial Institutions: Banks, lenders, or financial organizations providing funding or financial services
3. Project-Specific Stakeholders:
   • End Users: Individuals, groups or customers who will directly use or interact with the project’s final product or service.
   • Subject Matter Experts: Experts in a particular field or domain relevant to the project.
   • Testers and Quality Assurance Teams: Individuals responsible for testing and quality control.
4. Supporting Stakeholders:
   • Human Resources: HR departments handling staffing and resource allocation for the project.
   • IT and Technology Teams: Teams responsible for providing technology infrastructure or support.
   • Legal and Compliance Departments: Departments responsible for ensuring legal and regulatory compliance.
5. Advisory and Review Boards:
   • Project Advisory Boards: Panels of experts or stakeholders providing guidance and recommendations.
   • Project Review Boards: Groups responsible for project oversight and periodic reviews.
6. Subcontractors and Consultants:
   • External organizations or individuals providing specialized services or expertise to the project.

These categories encompass a wide array of potential stakeholders who can influence or be affected by the project. It’s important to identify, engage, and manage stakeholders from these groups to ensure project success and to address their interests and concerns effectively

McKinsey Statistic: According to McKinsey, projects that actively engage and involve stakeholders throughout their lifecycle are 30% more likely to be successful. 
Source: A data-backed approach to stakeholder engagement by Taylor Lauricella, published on May 28, 2020 on the McKinsey website.

Step 3 – Establish Communication and Engagement Strategies

Once stakeholders are identified, it’s crucial to establish effective communication and engagement strategies. This step ensures that stakeholders remain informed, involved, and supportive throughout the project. Communication plans should be tailored to each stakeholder’s needs and expectations.

Key Elements of a Communication Plan:

1. Audience: Identify all of the stakeholders who need to be communicated with, including their roles and responsibilities.
2. Communication Objectives: Clear goals and outcomes that the communication plan aims to achieve.
3. Key Messages: Core messages that need to be communicated to stakeholders/audience.
4. Communication Channels: The methods and tools used for communicating with stakeholders, such as emails, meetings, reports, or collaboration platforms.
5. Frequency: How often communication will occur, including milestones and regular updates.
6. Responsibilities: Assig roles and responsibilities for each communication task.
7. Escalation Procedures: Procedures for addressing communication challenges or issues, including how to escalate matters to higher authorities.
8. Feedback Mechanisms: Methods for stakeholders to provide input, ask questions, or offer feedback on project communications.
9. Constraints: Identifying any limitations or constraints affecting project communication, such as budget restrictions or technical constraints.
10. Budget: Estimate the budget required to implement the communication plan
11. Approvals: Indicating the need for approvals or reviews of certain communications before dissemination.

These components help ensure that project communication is well-planned, structured, and aligned with the project’s objectives, thereby enhancing project success and stakeholder satisfaction.

~Key Takeaway~

Initiating a project is the bedrock of its success. By following the processes of Develop Project Charter and Identify Stakeholders based on PMI.org and PMBOK7 guidelines, project managers can pave the way for a smooth and efficient project journey. A well-defined Project Charter and active stakeholder engagement set the groundwork for effective project execution. In the intricate landscape of project initiation, a well-crafted Communication Plan is the lifeline of any project. With its key components in place, effective communication becomes the cornerstone of project success, fostering collaboration, engagement and understanding from the very beginning.

As a project management professional, we hope you find this guide valuable in honing your initiation skills. Feel free to share your experiences, ask questions, or provide insights in the comment section below. Let’s keep the conversation going and continue to excel in the world of project management!