Once a project charter has been reviewed and accepted by IDC, the project manager with experience a relevant field will be charged with assembling a team of employees with the proper skills to complete the project. Any recruited or potential employees with relevant skills will be contracted at this stage in the process.
The project manager will create a project outline or Gantt chart to be presented to the company executives and distributed to appropriate project members. As tasks are completed and revisions have taken place, the project manager will report to the executives to ensure quality and discuss the possibility of any additional assignments until all tasks are complete.
At the end of the project, a finalized report will be prepared by the project manager and submitted at the executive level that includes lessons learned, finalized exit strategies (selling to another company, running as separate entity, licensing to a third party), and the profit equity statement for employee compensation.
For a graphical representation of this process please view the following document.