Every project begins with a decision: should this initiative move forward? That decision, however, is often clouded by many assumptions, excitement, enthusiasm, and oftentimes, incomplete information.

While initiation marks only the first phase of the project lifecycle, it sets the trajectory and tone for everything that follows. If risks are overlooked at this stage, the project may carry flawed foundations that no amount of later planning, execution or responses can fully repair. De-risking during initiation is therefore not just prudent; it is essential.

According to the Project Management Body of Knowledge (PMBOK® Guide), the initiation phase involves defining the project at a broad level, aligning it with organizational strategy, and securing stakeholder buy-in. The key deliverables typically include a project charter and a preliminary scope statement that also spells out any exclusions or limits..

De-risking at initiation stage requires rigorous scrutiny of all documents such as contracts, feasibility studies, etc. to ensure they are not based on wishful thinking or narrow personal interests but on validated needs and realistic expectations.

One common pitfall is the prevalence of optimism bias at initiation. Sponsors, decision-makers, and even project managers may believe that because the idea is promising or popular, success is inevitable. Early cost and time estimates are presented with confidence, leaning more towards the optimistic ideals.

Such “planning fallacy” leads organizations to approve projects without adequate buffers or alternative scenarios. To de-risk against this, project professionals should use comparative data from similar projects, commission feasibility studies, engage experts and apply techniques such as reference class forecasting to check assumptions.

Lack of stakeholder alignment represents another major area of risk at initiation. Projects frequently launch without a clear understanding of who the key stakeholders are, what their interests entail, or how supportive they will be. In some cases, strong executive sponsors drive projects forward while end users or frontline teams remain unconvinced.

De-risking here means conducting thorough stakeholder analyses, mapping influence and interest, and ensuring that voices from different levels of the organization are heard. Ignoring this step increases the likelihood of resistance during later phases.

The cultural dimension of risk appetite also plays a defining role in initiation. In organizations where risk-taking is encouraged, projects may be greenlit quickly, sometimes too quickly. Conversely, in risk-averse environments, worthwhile initiatives may be stalled by excessive caution. This is sometimes referred to as paralysis analysis.

A project manager who is familiar with this cultural backdrop can frame initiation decisions more effectively by balancing ambition with safeguards in high-risk cultures, or making the case for controlled experimentation in conservative ones. De-risking, therefore, is not only technical but also relational and contextual.

Clarity of purpose is another safeguard during initiation. Projects without well-defined objectives are vulnerable to drift, scope creep, and eventual failure. A charter that simply states “improve customer experience” or “upgrade systems” is too vague to guide meaningful action.

In the above instance, de-risking involves crafting objectives into measurable outcomes and ensuring they align with strategic priorities. In doing so, the project team minimizes the risk of delivering outputs that create no meaningful value.

Ultimately, de-risking during initiation is about preparing sufficiently to increase the chances of success by interrogating the idea. Is the business case sound? Have alternatives been considered? Are stakeholders aligned? Have cultural factors been weighed? Is optimism bias creeping into the assumptions?

By rigorously addressing the preceding questions, organizations and project managers, in particular, can avoid costly decisions and help build projects that are resilient.