Phases of Project Management Lifecycle

Phases of Project Management Lifecycle

Project management is an art. It doesn’t matter if you are working on a small project or you are working for a multinational company, if you don’t know how to manage the projects you will eventually end up failing. To get the basic knowledge of project management it is important that you master the art of these four phases of project management. If you want to make sure that your projects are organized, and you are always on track then following this lifecycle will make you better at your work manifold.

This project management lifecycle will describe how you can deliver high-level processes by following these simple phrases. It is said that due to bad project management the United States of America has lost 122 million dollars. Money and resources can be saved by learning these productive project management.

There are four phases of project management and we are going to talk about these phases one by one.

Initiation

Initiation is the first phase of project management. It is said if you won’t initiate anything you won’t be able to deliver results. To successfully deliver a project it is first important that you take it. After initiating the project, it is imperative that you identify the basic problem. It is your duty to brainstorm how you can solve a problem of your project and how you can deliver productive results out of that problem. It is imperative that you figure out the objective of your project. For more productive results it is essential that you divide the initiation stage into these steps

  • First, conduct a feasibility study. In this study, it is your job to identify the primary problem of your project, see if your project will be able to solve the problem and if so in what way?
  • After conducting a feasibility study, it is imperative that you define the scope of your project. In case the project does not have a scope then the best thing to do is to drop the project right away as nothing comes out by flogging a dead horse.
  • Next, make sure you come up with the strategies to provide the required services so the project can be made successful.
  • The last step includes identifying the cost and benefits of the product.

There is one thing that can greatly help you in Planning the successful initial phase and that is PMP certification boot camp. Next, come

Planning

Project managers who plan will always succeed. Once you see that your project is ready to move forward then it is your duty to jump into the planning phase. During the planning phase, you can come up with different strategies. The best strategy is to break down the larger project into smaller tasks. First and foremost, in the planning phase, you should make a team. Along with building a team, it is imperative that you prepare a schedule for the completion of the required assignments. It is not a good idea to go for the whole project in one go. Once the project is divided into small tasks then it will become easier for you to be able to deliver the assignments on time.

You can follow these simple steps in the planning phase

  • Come up with the project plan, identify the timeline of your project, identify how you will be able to perform the tasks and what will be the resistance in the project.
  • Come up with workflow diagrams, Visualise in your head how you are going to conduct this project successfully. According to your visualizations, create a strategy to successfully monitor and perform your tasks one by one.
  • It is never a good idea to jump into the completion of a project without estimating the budget. This step includes creating a financial plan, use cost estimates so you can determine how much you are going to spend on the project and how much you are going to get, out of investments
  • Once you are done with the financial plan, workflow diagrams then the next step is to have the resources. Make your team functional, make your resources functional, make sure you have the required software’s hardware’s to complete the project.
  • Identify the possible risks and then come up with the strategies to tackle them.
  • Have regular meetings, the feedback from your teammates will increase the productivity of a project.

If you successfully cover up the planning phase, then nothing can stop you from jumping into the third phase which is execution. It is amazing if you take help from Texas A&M’s PMP certification boot camp to enhance the productivity of your project.

Execution

Once you are done with initiation and planning then it is time to execute the project. The best way to execute the project is to start working. It is not a good idea to overwork your team members at the start of the project because this way they will be fatigued. Make sure you provide them reinforcement, enthusiasm, and flexibility so they work on the project in a positive manner. The briefing is the key, you won’t be able to execute your project successfully unless you won’t brief your team members. Unless you tell them what you want, they won’t be able to provide you the outcome you desire. Most of the projects fail because of the communication gap. It is never a good idea to stop communicating with your team members. If you want the successful execution of your project that it is imperative that you communicate with your team members, clients, and upper management. It is also imperative that you provide the required updates to stakeholders of all levels. Monitor the quality of work, manage the budget in a successful way and see how the execution of your project will happen in a brilliant way.

Closure

The PMP certification boot camp will tell you that the last step of project management is closure. Ones you are done with work then it is your duty to provide final deliverables, to release the project resources and to determine the success of the project. It is nice if you stay connected with the project even after its completion so in case of any issue you can provide the necessary guidance.

Nothing will teach you about project management like PMP certification boot camp.

Published by