Processes include defining and authorizing a project or project phase. a. Planning b. Initiating c. Monitoring and controlling d. Executing

The correct answer is letter "B": Initiating.

Explanation:

In project planning the first step is initiating. At this stage, the firm is aware that there is a new plan for conducting businesses that should be implemented so the resources -labor and capital- necessary to execute the project are obtained and allocated. Potential stakeholders are identified so they can bring their investments into the venture.

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