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A Project Review is an assessment of the status of a project, at a particular point in time. The first time in the project life cycle that a project review is undertaken is at the end of the first project phase, called Initiation. During this project review, a decision is made as to whether or not the team has met the objectives and is approved to proceed to the next project phase, being the Planning phase.
Project Classification. Project classification is a two-step process that helps identify the reporting requirements and the risk and complexity of the project that will be performed. Classification takes place as part of the development of the project Business Case â Activity 1.1 in the Identification Phase of the project.