^ [[Project Management Methodology - Guide 3.0 (PM2)]] # 5 Initiating Phase The first phase of a PM2 project is the Initiating Phase. It begins with the **identification of a need**, [[problem]] or [[opportunity]], and ends with the **establishment of the plans and processes needed to take the project forward**. Proper project initiation is ==critical for successful project planning and execution==. It involves defining project [[Objective|objectives]] and [[Constraint|constraints]], and receiving formal organisational sponsorship for the project. ![[Fig 5.1 Initiating Phase activities and main outputs.png]] **Three key project artefacts** are created during the Initiating Phase: the [[Project Initiation Request]], the [[Business Case]] and the [[Project Charter]]. Some of the Project Logs are also set up (i.e. **[[Risk Log]]**, **[[Issue Log]]**, **[[Decision Log]]**) while the Change Log is typically set up during the Planning Phase. ![[Fig 5.2 Initiating Phase artefacts.png]] ___ Spanish Guide: [[5 Fase de Inicio]] <-- [[4 Project Organisation and Roles]] --> [[5.1 Initiating Meeting]]