Initiator Agreement Definition

An initiator agreement, also known as a project initiation document (PID), is a formal document that outlines the objectives, scope, and governance of a project. It is the foundation upon which the project is built, and serves as a roadmap for the project team. The initiator agreement is typically drafted by the project manager or team lead, and is approved by the stakeholders and sponsor.

The initiator agreement includes a detailed description of the project, including its purpose, goals, and objectives. It also includes a scope statement that outlines what the project will deliver, and what it will not deliver. The scope statement should be specific, measurable, achievable, relevant, and time-bound (SMART), and should be agreed upon by all stakeholders before the project commences.

The initiator agreement also includes a project schedule, which outlines the timeline for completing the project. This schedule should include key milestones, deliverables, and deadlines, and should be updated regularly throughout the project to ensure that it remains on track.

Another important component of the initiator agreement is the governance plan. This plan outlines the roles and responsibilities of the project team, stakeholders, and sponsor, and establishes a framework for decision-making, communication, and risk management.

The initiator agreement also includes a budget, which outlines the expected costs associated with the project. This budget should be realistic and based on accurate estimates of the resources required to complete the project.

Finally, the initiator agreement includes a risk management plan, which identifies potential risks to the project and outlines strategies for mitigating those risks. This plan should be reviewed regularly throughout the project to ensure that any new risks are identified and addressed in a timely manner.

In summary, the initiator agreement is a critical document that provides a roadmap for the project team, stakeholders, and sponsor. It outlines the objectives, scope, governance, schedule, budget, and risk management plan for the project, and serves as a foundation for successful project delivery.