This kind of project is divided into two: the business process and the technical process. Both components come with their own kinds of challenges.
At the business level, an organizational glossary is required in order for data cataloging to be effective. The glossary describes each of the key concepts within the company, how they are measured, who is responsible, where it can be found etc. A project of this type usually comes from the management and requires business understanding, the ability to lead processes with the various management personnel in the organization and the technical ability to connect the business language used to the level of data stored in the various sources of information.
The technical process is more simple to implement and it is recommended to start here when there is no pressing need for a business glossary. This process involves the consolidation of all existing data sources in the company to a central metadata system which is why proper management of this system is required. If every piece of company data can now be accessed it would be reasonable to make sure that it is possible to manage who sees what. It is also worth considering adding additional technical information to the catalog, like loading frequency.