| CPC G06Q 10/103 (2013.01) [G06F 16/3329 (2019.01); G06F 16/35 (2019.01); G06V 30/416 (2022.01)] | 12 Claims |

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1. A processor implemented method, comprising:
receiving, via one or more hardware processors, a Request for Proposal (RFP) response document and a configurable extraction pattern as inputs, wherein the configurable extraction pattern specifies a heading and style related information of the RFP response document;
extracting, via the one or more hardware processors, a plurality of questions and a plurality of corresponding answers by analyzing the Request for Proposal (RFP) response document based on the configurable extraction pattern;
classifying, via the one or more hardware processors, each of the plurality of questions into at least one project initiation class of a set of predefined project initiation classes based on a comparison of a configurable threshold value with a probability score computed using a pre-trained machine learning model;
processing, via the one or more hardware processors, each of the plurality of corresponding answers to extract a plurality of project initiation related information using one or more classifiers, wherein the plurality of project initiation related information is extracted by processing text information and images present in each of the plurality of corresponding answers;
generating, via the one or more hardware processors, a plurality of class specific documents with the plurality of project initiation related information; and
composing, via the one or more hardware processors, one or more stakeholder specific documents involved in project initiation process based on the plurality of class specific documents, wherein the one or more stakeholder specific documents are further shared with corresponding one or more stakeholders for project related resource planning.
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