The second process: Initiating a Project. Sometimes or most of the times this proces is combined with the proces Starting Up a project. This process is mandatory in any PRINCE2 project and aims to build a good foundation for the project (at first thought).
In the initiation stage, the intended results, plans, tasks and responsibilities are laid down, and combined they are the solid base for the project. The main product of this phase is the Project Initiation Document (PID).
This process builds on the work of the Start Up (SU) activity and the project brief is augmented to form a Business Case. The approach taken to ensure quality on the project is agreed together with the overall approach to controlling the project itself (project controls). Project files are also created as is an overall plan for the project. A plan for the next stage of the project is also created. The resultant information can be put before the project board for them to authorize the project itself.
Source: http://en.wikipedia.org/wiki/PRINCE2 an http://nl.wikipedia.org/wiki/prince2 (translated)
Project Initiation Questions
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