The 5 Phases of Project Management Explained
At the beginning of a project, the amount of planning and work required seems overwhelming since there could be considered an enormous amount of work needing to be finished at the right time and in the right sequence, for this reason, managers are recommended to train in the area with training programs in project management and managerial skills.
The project managers experienced to know that it is often easier to manage a project when it is divided into phases. The following five phases can help to structure and simplify them in a series of logical and manageable steps. Project management phases are important to understand for individuals who are looking forward to acquiring PMP Certification. It should also be kept in mind that in today’s landscape of informational technology and computer networking, there are key certifications which are always attributed to the ideal candidates. Hence, a PMP Certification remains one of them. Understanding and acquiring mastery in this specific certification would open an information technology professional’s chances of securing better jobs with better pays.
So, without further ado, let us understand the most important phases of project management:
1. Initiating a Project
The beginning is the first phase of the life cycle of the project. This is where the value and viability of the plan are measured. Project Managers often use two evaluation methods to decide whether they want to carry out the work or not, which include the following:
Business Case Document: About the project, why the project is needed, what are the benefits?
Feasibility Study: Measure your resources and see how they will stack up against the requirements of the project.
The teams abandon the proposed projects that are labelled as unprofitable or unviable. However, projects that pass these two tests can be assigned to a work team or a project office.
2. Planning a Project
Once the intent of pursuing a project is accepted, a solid plan is needed to guide the team, as well as to have it on time and within budget. A well-written project plan offers guidance for obtaining resources, financing, and acquiring the necessary materials. The project plan gives the management team directly to produce quality results, manage risk, create acceptance, communicate benefits to stakeholders, and manage suppliers.
Planning also prepares teams for the obstacles they may encounter throughout the project and helps them understand the cost, scope, and timing of the work.
This phase is crucial to successful project management and stresses on developing a comprehensive guide that everyone will find resourceful. This phase involves setting goals, and the two methods remain SMART and CLEAR.
- SMART – It makes sure that the said goals have been thoroughly scrutinized. It also provides a clear way to understand the results of the phase of goal-setting.
- Specific: To set some particular goals, the following questions should be kept in mind: WHAT, WHO, WHERE, WHICH, WHERE, WHY?
- Measurable: Develop a way by which you can measure the success of a goal.
- Achievable: Learn about goals that are highly important and what will be required in order to secure these goals.
- Realistic: You should also be willing and ready to work towards a specific objective.
- Time-specific: Create a timeframe to achieve the goal.
On the other hand,
CLEAR – A modern and updated method for putting forth some crucial goals that take into consideration today's structure of the fast-paced business landscape.
- Collaborative: The objective should encourage employees to hand in hand.
- Limited: They should be limited in their own scope and require adequate time to keep it manageable for the crucial stakeholders.
- Emotional: Goals should stay in line with the passion and interest of employees and be something they can form an emotional connection towards. This can definitely optimize the quality of work and take results to greater heights.
- Appreciable: Break larger goals into smaller objectives that can be swiftly achieved without hassle.
- Refine: As new circumstances take over, be flexible, and refine the objectives as required.
3. Execution of the Project
This is the phase that is most viable attributed to the area of project management. The execution consists in delivering results that satisfy the client. A supervisor or leader of a team can make this happen by allocating resources, and keeping group members focused on the designated tasks.
The phase of execution actually depends in no small extent on the phase of planning. The work and efforts of a team during the phase of execution are taken from the plan of this project.
4. Supervision and Control of a Project
As teams execute the plan, they must continuously monitor their own progress. To ensure project delivery, teams must monitor tasks to prevent loss of scope, calculate key performance indicators, track cost variations, and time allocation. This constant vigilance helps keep the project running smoothly.
5. Closing the Project
The teams close the project when they deliver the finished work to the client, communicating its completion to the interested parties and releasing resources for other projects. This vital step in the life cycle of the project allows the team to evaluate and document the work done and move on to the next project, using previous and current failures and successes to improve the processes.
With the help of these five cycles can help the team manage all types of projects and use time and resources more intelligently. It is also important to remember the benefits of project management consulting if a work team has doubts about carrying out a project, you should look for a consultant.
Have Any Questions?
By now, you are likely to have a set of questions regarding project management and its relevance in today’s information technology environment. Let our team of experts help you in this regard with their knowledge and input.