Final answer:
Project Execution is not an element of project initiation; it is a separate subsequent phase where the project plan is implemented. Project initiation primarily includes the creation of a Project Charter and defining the Project Scope.
Step-by-step explanation:
Elements of Project Initiation
The initiation phase of a project involves formally starting a new project or a new phase of an existing project. The key elements of project initiation include the Project Charter, which officially authorizes the project; the Project Scope, which defines the boundaries of the project; and other preparatory work necessary to start a project.
On the other hand, Project Execution is not an element of project initiation. Rather, it is a separate phase in the project management process that follows the planning phase. The execution phase is where the project plan is put into action and the work required is performed.
Project Planning is also not part of initiation. It is the subsequent phase that deals with defining the project's objectives and determining the series of actions to achieve those objectives.