The first phase of a project, according to project management practices, is initiating the project. This phase involves defining the project at a high level and obtaining the necessary approvals to move forward. During initiation, key elements such as project objectives, scope, stakeholders, and any initial requirements are identified. This is crucial for setting the groundwork for the project and ensuring that everyone involved has a clear understanding of what the project aims to achieve.
Initiating is essential because it lays the foundation for all subsequent planning and execution. Properly initiating a project allows project managers to identify potential risks and challenges early, as well as establish a preliminary timeline and budget. It ensures that there is alignment with organizational goals and secures necessary stakeholder buy-in.
Other options do not represent the first phase of a project. Closing the project comes much later and involves finalizing everything and ensuring that project deliverables are met. Executing tasks relates to carrying out the work defined in the project management plan, which only happens after initiation and planning are completed. Making a plan, while a vital phase of the project, occurs after the project has been initiated and involves detailed scheduling, resource allocation, and budgeting.