The Project Initiation Documentation

C.

The Project Initiation Documentation (PID) is an essential document that describes the project's objectives, scope, timeline, budget, and stakeholders. It is a crucial document that ensures that a sound basis exists before the Project Board authorizes a project.

Statement 1: The Project Initiation Documentation is used to ensure that a sound basis exists before the Project Board authorizes a project. This statement is true. The Project Initiation Documentation (PID) is a critical document that provides a comprehensive overview of the project's objectives, scope, timeline, budget, and stakeholders. It helps the Project Board to make an informed decision on whether to authorize the project or not.

The PID also includes information about the project's risks, assumptions, constraints, and dependencies, which helps the Project Board to assess the project's feasibility and viability. Therefore, the Project Initiation Documentation is essential to ensure that a sound basis exists before the Project Board authorizes a project.

Statement 2: The Project Initiation Documentation should be updated at the end of each stage to reflect the current status of a project. This statement is not true. The Project Initiation Documentation (PID) is created at the beginning of a project and outlines the project's objectives, scope, timeline, budget, and stakeholders. It is not updated at the end of each stage to reflect the current status of the project.

However, other documents such as the Stage Plan, Highlight Reports, and End Stage Reports are created at the end of each stage to update the Project Board on the project's progress and status. The PID may be updated if there are significant changes to the project's objectives, scope, timeline, or budget, but it is not a requirement to update it at the end of each stage.

Therefore, only statement 1 is true, and the correct answer is A - Only 1 is true.