Final answer:
The Defining stage is where project objectives are established, teams are formed, and major responsibilities are assigned.
Step-by-step explanation:
The stage of the project life cycle where project objectives are established, teams are formed, and major responsibilities are assigned is known as the Defining stage. This is where the groundwork for the project is laid out. During this phase, you define the problem, which involves investigating the needs of potential customers, identifying potential competitors, understanding governmental regulations, and establishing constraints such as personnel, time, and money. The defining phase results in a clear problem statement and sets up criteria and constraints that will shape the rest of the project. It's here that goals are identified as being achievable and appropriate, and a plan is developed for how to accomplish those goals.