The 5 Phases of Project Management

The word Project management has been defined as the use of knowledge, skills, tools, and techniques to a broad range of activities in order to meet the requirements of a particular project. The best method is known so far for delivering products within cost, schedule, and resource constraints have been proven to be Project management.

Control a project from start to finish

In order to ensure that projects are completed on time and on a budget, intensive and hands-on series of courses gives the skills while giving the user the product they expect. This will help the user to gain a strong working knowledge of the fundamentals of project management and be able to immediately use that knowledge to effectively manage work projects. By the time the series is completed, the identification and management of the product scope, building a work breakdown structure, creation of a project plan, generation of the project budget, definition and allocation of the resources, management of the project development, identification and risk management, and understand the project procurement process will be a lot easier to carry out.

In order to be able to direct and control a project from start to finish, the procedures involved are further divided into 5 basic phases;

1. Initiation and project conception
This phase includes a decision-making team that is responsible for identification of the project’s success so as to detect if the project can realistically be completed. An idea for a a particular project will be carefully inspected to determine whether or not it benefits the organization.

2. Planning and project definition
The teams involved in this phase should prioritize the project, calculate a budget and schedule, and determine what resources are needed. In this phase, a project plan, project charter and/or project scope may be put in writing, outlining the work to be performed.

3. Execution and project launch
The project launch or execution phase involves the distribution of resources' tasks and teams are informed of responsibilities. At this phase, it is a good time to bring up important project related information.

4. Monitoring project performance
The Project managers will associate project status and progress to the actual plan, as resources perform the scheduled work. In this phase, the schedules may need to be adjusted by the project managers or do what is necessary to keep the project on track.

5. Closing the project
An evaluation is necessary after the project tasks are completed and the client has approved the outcome, this is important in order to highlight project success and learn from a project history.

Projects and project management processes differ from industry to industry, however, these are more traditional elements of a project. The primary goal always is to offer a product, change a process or to solve a problem in order to benefit the organization.