Project Management Phases:
Getting a project done, especially one that involves considerable resources and personnel requires effective planning and oversight. It takes more than just establishing a hierarchy of management to oversee such endeavors, it takes the formation of project management phases to ensure that it gets accomplished.
What is Project Management Life Cycle?
The life cycle consists of five basic phases that ensures good communication, effective resource management, and proper direction to the completion of the project itself. A good project manager will oversee the project management stages to make sure that each are completed properly.
5 Basic Project Management Phases / Project Activities List:
Each of the project management phases are distinct and must be executed in order for the project to succeed.
- Initiation: The formation of the project itself, this is where the project management steps are put into place.
- Planning: The creation of the plan based on the activities started during the initiation phase.
- Execution: All resources are allocated, personnel put into place, and the plan is put into motion.
- Control & Monitoring: While similar to execution, this is the phase that keeps the project moving forward despite potential obstacles.
- Closure: Here, the project closes with all the pieces of the plan fully completed.
Project Management Activities in Each Project Phase:
There are two major activities that take place during this step, the creation of the business case document to justify the project and a feasibility study to ensure that the timeline, costs, and goals are set. If the project is deemed unjustifiable, too expensive, or too time-consuming, it can be abandoned with little cost at this point.
Here, the team puts together a plan that will guide them to financing, obtaining resources, getting the right materials, and allocating human resources to the completion of the project. The creation of the plan will also anticipate potential risk and communicate to stakeholders the benefits of completing the project.
This is the phase which most people can see the project management at work. The activities start with completing each step of the plan in order. Team leaders will guide the employees in the execution of the plan and start the next step only when ready.
Phase-4: Control & Monitoring:
Here, the activities are focused on preventing or at least limiting outside factors that may slow down a project. For example, when constructing a building factors such as weather, delays in getting supplies, or a slowing down of the work-rate is addressed as quickly as possible.
At this step, the activities focus on completing each step of the plan. This means evaluating the current state of the project, addressing any concerns, and bringing it to a close. Evaluation and documentation are critical.
Once all the project management phases are completed, the project itself is completed and can be evaluated to spot any errors, concerns, or lessons that can be used for future project management steps on another concern. The more efficiently the project management activities are executed, the better the results will be. Our students learn implementation of each of the project management phases (in projects, programs and project portfolios) during the project management qualifications, such as doctorate in project management and masters in project management.