To efficiently initiate a project you need to keep in mind a few steps that will only lead to a good and organised work. So, first of all, you must document the business opportunity and find alternative solutions available. You can even search for similar ideas that have already been developped.
Second of all, you must conduct a Feasibility Study to investigate the chance of succes that you and your project have. This requires a lot of objectivity. It's important to know exactly how you stand and what are your chances of failure.
Third of all, you must consider new technologies for your project. It can be very helpfull, but it can also represent a risk because if anything can go wrong, it usually does. So don't try to make your work easier because you risk you make it harder.
And of course, after planning and discusing the project, after all the calculating part, you must start working. But you must keep in mind that the most important part of a good project it is it's initiation. When you start something like you should, it will be good. And when you don't, it will surely be a total mess.