Which of these statements best describes the Initiation phase?
- The project’s probability of succeeding is high.
- Stakeholder influence on the project is low.
- Risk is high.
- Expended cost-to-date is high.
The correct answer is 3.
Risk is highest at the beginning of the project, when there are many unknowns. All the other answers are false: the project’s probability of succeeding is low because there are many unknowns at this point; stakeholder influence is very high as the project is further defined; expended cost-to-date is very low because the planning and work are just beginning.
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