During which project phase is a project proposal formalized?

The project proposal is formalized during the project defining phase. This phase is critical because it sets the foundation for the entire project by establishing its goals, objectives, scope, and the feasibility of the project. During this stage, project stakeholders collaborate to clarify expectations and outline the necessary resources, timeline, and risks involved. By formalizing the project proposal in this phase, stakeholders can ensure that everyone has a clear understanding of what the project aims to achieve and how it will be executed.

In contrast, the planning phase primarily involves creating detailed plans for executing the project laid out in the proposal, thus building upon the foundation established earlier. The executing phase focuses on the implementation of the project, and the closing phase is concerned with wrapping up all activities, ensuring deliverables meet requirements, and conducting evaluations. Therefore, the formalization of the proposal specifically aligns with the project defining phase, where the groundwork for success is meticulously laid out.