How does initiation differ from planning?

Initiation and planning are different phases of the project lifecycle.

• Initiation is the stage where the need for the project is determined, along with its goals, main requirements, and justification. This is where the initial vision of the project is formed, risks and benefits are assessed, a business case is approved, and a decision to launch the project is made.

• Planning is the stage following initiation, where a detailed implementation plan is developed. It includes defining tasks, timelines, resources, budget, role allocation, and creating a schedule.

In simpler terms, initiation answers the question "Should we launch the project?", while planning answers "How exactly will we execute it?".