During the project initiation phase, a project team has been identified.

Update the project charter. Updating the project charter would be the next step for the project manager after identifying the project team during the project initiation phase. A project charter is a document that formally authorizes a project and defines its purpose, scope, objectives, deliverables, milestones, roles and responsibilities, assumptions, constraints, risks, budget, and timeline. A project charter can help to align the expectations and interests of all stakeholders involved in a project and provide direction and guidance for planning and executing the project.