At the start of a project, the amount of work required and planning will certainly seem overwhelming. Every project has a beginning, a central part (the project execution process), and a closure (either successful or unsuccessful). Whether you are working on a small project with modest business goals or a large initiative, an understanding of the project management lifecycle is essential. In this article at the PM Tips, Emily Luijbregts explains various phases of the project management lifecycle and its importance.
Phases of Project Management Lifecycle
In this stage, you must identify the business problem, need, and opportunity. This step will provide you with a chance to recognize the objective of your project, determine whether the project is feasible, and also evaluate the major deliverables for the project. Some steps for the project initiation phase may include:
- Identifying scope: Define the depth of the project.
- Identifying deliverables: Define the product or service that you provide.
- Identifying the end-users: Determine who the project affects and how to meet their requirements.
During this phase of the project management life cycle, you must break down the larger project into smaller tasks, prepare a schedule for the completion of your project, and build a team. Create smaller goals within the larger project. Ensure that each goal has a high potential for success, and your team members can achieve within the time frame. The project planning phase includes:
- Creating a project plan: Identify the timeline, tasks to be performed, and the possible constraints.
- Creating a financial plan: Use cost estimates to determine how much to spend on the project to get the maximum return on investment.
- Identifying the issues: Anticipate the risk and potential quality roadblocks. Have a risk mitigation plan to eliminate risks and maintain the project’s quality and timeline.
Once you have developed your business plan, it’s time to get to work. It is in the execution phase that you turn your plan into action. Some of the steps for the project execution phase include:
- Creating tasks and organizing workflows: Assign every small project task to the appropriate team members. Makes sure team members are not overworked.
- Briefing team members on the task: Guide your team members on how they must complete the project and organize process-related training, if necessary.
- Monitoring quality of work: Ensure that your team members are meeting their quality and time goals for projects.
Once your team completes the project, you enter the closure phase. Here, you provide the final deliverables to the relevant stakeholders and determine the project’s success. In this closing phase, project managers must evaluate what did and what did not work with the project.
Following these steps will undoubtedly lead your project to success and help you become an accomplished project manager. To read more about the project management lifecycle, click on https://pmtips.net/article/clarifying-the-phases-of-project-management.