T Company has identified a need for, and made a decision to open, a new training centre in one of the major cities in E Country. This is a large scale project for T Company and it needs to make sure that the project for finding and developing the centre is delivered successfully, since this is a major investment for T Company. It does not want to make an expensive mistake. In order to maximise revenues the centre needs to be completed and open within a six month time scale. The company understands that large scale projects usually follow a lifecycle made up of separate phases which occur in sequence.
Explain to T Company what should happen at the project initiation stage of the project lifecycle for the training centre project.
T is significant for T Company to understand what should happen in the initiation stage of the new training centre project. Projects are initiated when a requirement or objective is defined. For T Company it has identified the need for a new training centre in a main city in E Country. There are a number of consideration which should be made at this stage of the project including:
- Project Requirement
- Project Feasibility
- Risk Management
The development of an outline proposal should contain a statement of the project requirement, in other words what is expected of the project and in certain the reason for what is being developed. This aspect of intiation is significant because if the project needs for the new training centre is clearly set out at the outset, then the project should have a greater chance of success.