What is a key component of project initiation that defines what needs to be achieved?

In project initiation, clearly defining what needs to be achieved is essential, and this is encapsulated in the concept of goals. Goals outline the overall direction and desired outcomes of the project, providing a framework for making strategic decisions and aligning the project team's efforts. By establishing specific, measurable, and achievable goals, project managers can ensure that all stakeholders have a shared understanding of what the project aims to accomplish. This clarity is critical for creating an effective project plan and for guiding the project throughout its life cycle.

While stakeholders, success criteria, and resources are all important components of project management, they serve different purposes. Stakeholders identify who is involved and affected by the project, success criteria provide benchmarks for measuring project performance, and resources detail the tools and personnel needed to achieve the goals. However, without clearly defined goals, it would be challenging to assess success or allocate resources effectively.