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You should do it continously during the project and it's home-turf is Quality Management.
There is not best practice. There is the practice that best fits for the initiative taking into account the organizational strategy and organizational architecture. If not, you will fail.
Well, every industry specialist has his own best practices. We can't generalize actually.
Best practices should be employed through the projects. Best practices varies with industries.
During planning, you document the processes that will be used throughout the project. These processes should be tailored from the Organizational Process Assets for your project.
Early in the life of a project, the PM should facilitate a tailoring exercise with the team to come up with the appropriate set of practices and the "right" level of project management rigor to be applied to fit the project, team & organization's context.
This will help to create buy-in from the team on those practices which they will need to contribute to and will have the side benefit of being a good team building exercise.
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