You first identify the problem. From there you come up with project options that are meant to address that problem. From those options you select the one that is more viable through:
Conducting a feasibility study.
Identifying threats.
Measuring the available and/or attainable resources against the due activities.
Calculating or estimating costs.
Drawing up a budget.
Drafting the Work Breakdown Structure.
Outlining the scope of the project.
From there you should:
Conduct a SWOT analysis.
Do environmental scanning.
Identify macro environmental factors directly affecting the project.
Make assumptions and prepare for differences (outcome vs. Initial estimate)
Come up with a contingency plan or strategy, in case the original project does not succeed.
Conducting a feasibility study.
Identifying threats.
Measuring the available and/or attainable resources against the due activities.
Calculating or estimating costs.
Drawing up a budget.
Drafting the Work Breakdown Structure.
Outlining the scope of the project.
From there you should:
Conduct a SWOT analysis.
Do environmental scanning.
Identify macro environmental factors directly affecting the project.
Make assumptions and prepare for differences (outcome vs. Initial estimate)
Come up with a contingency plan or strategy, in case the original project does not succeed.