Mastering a project and how it should be done takes only a few steps. However, if done properly, your project would stand the test of time and become relevant at all ramifications.
Based on PMI, project management is considered to be applying knowledge, skills, techniques, tools and other initiatives to a broad range of activities to meet the requirements of a particular project.Â
There are five phases when it comes to project management, and if the lifecycle of the project is completed, then you have a successful project that is scalable. The following are five phases and the road maps to completing a project successfully.
Phase 1 Project initiation
No project is executed if there are no initial preparations and other activities regarding the project’s success. This phase in the project execution always starts with a business case study that highlights what is meant to be achieved, how feasible the project is, and what should be undertaken.
Here, several testing is done, and necessary resources are put in place to ensure the success of the project.
Project planning
He who fails to plan is planning to fail; this is entailed in a successful project. To successfully have your project managed properly and scaled to the right stage you expected it to be, you must plan and focus on the roadmap that is involved in the project.
Set your goals in a specific, measurable, attainable, realistic and timely way. Besides, in your planning stage, you must define clear goals and how you aim to achieve the goals after the project has scaled from the ground.
Project execution
This is the phase where you have deliverables measured, and the results of your project are shown to the stakeholders. A lot is happening at this stage, centered on the performance of what you documented in the business case.
The task that is completed during this execution phase includes Developing teams that will handle the project, assigning resources that are expected for the executing of the project, executing the project with the management plans you have highlighted, procurement of management if needed, and setting up measurable tracks on the project execution would be held.
Project performance/monitoring
This is all about measuring the project progression and the performance and ensuring that your deliverables align with everything you have highlighted in the plan.
Project managers must keep key performance indicators on how the project is going and track the measurable results. A project manager would typically have some results they are working towards, and if the goals aren’t achieved, then the project’s purpose is a failure already.
The following should be the focus of the project manager at this stage: it includes project objectives, quality deliverables, effort and cost tracking, and project performance.
Project closure
This phase centers on the completion of the project. First, the contractors and the team hired must have handed off the project and complete the project based on the time frame that has been set.
Next, the valuable team members should be recognized, why all the project parts must be inspected to ensure they conform to the highlighted plans.
Here, the project punch list is created, and if the punch-list isn’t completed, the project isn’t worthy of completion. Finally, the entire budget spent on the project is prepared, and the final project report is produced.
