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U 100 01 Key phases of a successful project INITIATION Initiation is the formal introduction of individuals into a group or practice , typically marked by rituals and ceremonies . 03 EXECUTION Execution is the active implementation of planned actions , turning strategies into reality by coordinating tasks , managing resources , and achieving set objectives . 000 02 04 110 www 000 PLANNING Planning involves the systematic process of outlining objectives , determining actions , and allocating resources to achieve specific goals or tasks efficiently and effectively . MONITORING Monitoring entails the ongoing observation and assessment of processes , activities , or systems to ensure they are progressing as planned , identifying deviations , and making necessary adjustments for optimal outcomes . 79 https://www.vrankup.com