The demand for project management in today's modern world has increased massively. This increase is due to effective project planning, execution, and monitoring. The project is divided into five different stages. starting the project, planning the project, implementing the project, monitoring the project, and taking the project to the end. It is most important to reach these goals to the end without interruption and ensure that all our goals are successfully fulfilled. To make these phases successful, the projects need to be organised effectively. Each project has a clear start and closing date, as well as some of the specific reasons that need to be met. With no good strategy for any project management, work can be disorganised and can also exceed budget. Which can cause serious consequences.
What Is Project Management?
After running through a few definitions of projects, a project is generally viewed as an endeavor in which some work is done to achieve a limited objective with limited resources and time. It can thus be said that most businesses, NGOs, and governments or any other kind of organisation undertake some sort of project and therefore have a need for some project management process.
Phases of project management
It is important to understand the stages of management so that you can manage any project successfully, from the start to the end. These stages are initiation, planning, execution, monitoring, and closure. Each one of them uses a specific skill set as well as approach on how to address objectives within a project framework. In case you have a desire for understanding these stages and improving your project management capabilities, check our Training Course on Project Stages. This is a well-designed program that offers detailed information and practical tools to prepare you in attack mode at every phase. So, register now and start getting on the road that will lead you to expert project management!
Project initiation
The initiation phase of a project is a stage that sets the foundation for converting an abstract idea into a concrete goal. An initialization process in developing a business case and defining the project broadly encompasses all elements in identifying the need for the project and creating a project charter.
The major outcome of this is a project charter which usually contains all the information including but not limited to project constraints, goals, appointment of project manager, budget, expected time frame, etc. A project manager can create clear, professional-looking project visuals and presentations through background removal tools.
Once it is known what the project goals and project scope are, the next thing is to identify key project stakeholders-those who have to be involved in the project. There should have a stakeholder registry including roles, designation, communication requirements, and influence.
Project planning
The project planning phase provides a complete guide for whatever means might get used wherever it is derived; it may even include understanding current technology project methodologies such as agile project management. Then again, the second step of project management has become almost half the duration of the project itself.
During this phase, the major element is identifying the technical requirements, drawing an exhaustive schedule for the project, establishing a communication plan, and finally setting up certain objectives or milestones for the entire project. Examples of web applications are shopping carts, on-line forms, spreadsheets, word processors, PDF conversion programs, video editing and photo editing software, file scanning tools, and email such as gmail and yahoo.
Project execution
This is probably the project execution stage. This is when the real work is done by the team. For a project manager like you, the most important bit is establishing effective and efficient workflows and being able to monitor your team closely. Another duty of the project manager in this phase is to maintain effective and regular communications with different project stakeholders. This way, all will be informed and the project will move on seamlessly without problems. You can still take help from the best project collaboration tools in the market. They will not only ease your life but also improve the efficiency and effectiveness of your team. Using an idea generation tool can really shake up the dynamic environment in which teams brainstorm and collaborate. Members can now visualise ideas while receiving real-time feedback on ways to modify concepts by their peers, all this wonderfully blending into the execution of the project. It will be a great tool for team members who want to take their creativity to the next level and keep the voices of all in mind during idea development.
Project monitoring and controlling
The third and fourth phases of project management do not have a sequential character. Instead, the monitor and control phase proceeds concurrently with project execution, thus ensuring that objectives and project deliveries are completed. As a project manager, the setting of Critical Success Factors (CSF) and Key Performance Indicators (KPI) allows you to ensure that one sticks to the original plan. During the monitoring aspect of the administration of a project, the manager is also responsible for quantifying the effort and cost with respect to the work being done. Such tracking not only ensures that the project stays within the budget but is also very crucial for subsequent projects.
Project closing
This is the last phase of the project management process. The project closure phase signifies the termination of the project after the final delivery. There are instances when external talent is contracted to work exclusively for the project. The project manager also has the responsibility of terminating these contracts and finishing off the paperwork.
In most teams, a reflection meeting is held after the closure of the project to ponder over both successes and failures during the project. This is an effective process to promote continuous improvement in the organisation to enhance future overall team productivity.
The last job that the phase undertakes is to analyse the entire project and prepare a thorough report dealing with every aspect. All the requisite information will be provided safely with access to any project manager of the organisation.
Take Your Project Management Skills to the Next Level!
It is the discipline of project management itself with its tools and techniques that will help ensure projects succeed within the boundaries of budget and time. The five main project phases Initiating, Planning, Executing, Monitoring & Controlling, and Closing exist to ensure that projects can be conducted efficiently and effectively. Each of these phases is thus crucial in maintaining order, minimizing risks, and moving a project toward its objectives.
If you would like to upgrade your project management skills, managing projects with confidence, join the British Academy for Training and Development. The courses by industry experts teach you the skills and knowledge you need to succeed in project management. Get started today!