Recognizing that a project or phase should begin and committing to do so...PMI
1. Select Project
Projects are initiated to satisfy a business requirement, solve a problem, or respond to an opportunity. A project is first selected based on various criteria. This selection criteria is created by the organization, prioritized, assessed, and scored. Selection criteria could include business objectives, cost, return on investment, and/or feasibility.
2. Create a Project Charter
A project charter is essentially a contract between the project team and the project sponsor. This applies regardless of whether the project is being done by internal resources or has been contracted out to an outside agent. The project charter document is created by senior management and provides the project manager with the authority to utilize the organization's resources to fulfill the project's requirements. The project charter outlines how the project will satisfy the organization's business needs and should include a description of the end product or service that the project delivers. The length of the project charter will vary depending on the complexity and other variables of the project.
3. Assign Project Manager
The project manager is selected by senior management or sponsor of the project and should be in place as early in the planning phase as possible and before the execution stage commences. The project manager must have a clear job description and understanding of the level of authority he/she has regarding resources and personnel. Once assigned, the Project Manager and Project Sponsor should update / create and sign the Project Charter.