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Project Management Philosophy, What Are The Five Phases Of PM

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Project Management Philosophy

Project Management Philosophy, What Are The Five Phases Of PM: It’s better to start learning the primary stages of the project life cycle phases if you’re in a position where you’re expected to manage projects for your organization, and you’re feeling overwhelmed.

Project Management Philosophy, What Are The Five Phases Of PM

Phases of Project

The Project Initiation

It is the first step in transforming an abstract idea into a concrete goal. The next step is to develop a business case and define the project on a high level. Determine the project’s need, and then create a charter for it.

This document contains details such as project constraints, goals, the appointment of a project manager, budget, and a projected timetable, among other things.

Project goals and scope determines before identifying key project stakeholders or the people involve. Assign roles and responsibilities to each stakeholder.

Obwohl in this phase, a clear objective of the project is establish, a Project Charter contains no technical details develop in planning.

Consider the case of an automobile manufacturer tasked with the development of an electric automobile. As part of the initial phase, no decisions make regarding the vehicle’s design, capacity, or battery power source.

Electric cars will be developed within the given timeframe and budget, but that is the only certainty.

Project Planning

The project planning stage, which lays out the project’s road map, requires complete diligence.

It is expect that the second phase of managing a task will take almost half of its total duration if you are not using a modern project management methodology like agile project management.

During this phase, the primary tasks are identifying technical requirements, developing a detailed project schedule, creating a communication plan, and establishing goals and deliverables.

Execution Of The Project

Your team’s actual work takes place in the project execution stage. As a project manager, it’s your job to establish efficient workflows and monitor the progress of your team’s work closely.

During this phase, the project manager is also responsible for ensuring that project stakeholders effectively work together. All parties keeping on the same page, and the project runs smoothly.

You can use collaboration software that is available on the market to your advantage. Besides making your life easier, they will also increase the efficiency of your team.

Observation And Control Of A Project

The third and fourth phases of the project management process are not sequential—project objectives and project deliverables monitoring during this phase.

Critical Success Factors (CSFs) and Key Performance Indicators (KPIs) can help project managers ensure that no one deviates from the original plan (KPI).

They have to keep a quantitative record of both effort and cost during this phase of project management. As well as ensuring that the project should stays within budget, this type of tracking helps in the future for other projects.

The Project Is Completed

As the last phase of the project management process, this is the most critical. The project’s completion marks the project’s end after the final delivery.

Externe talent may contract for a project from time to time. The project manager is also responsible for terminating these contracts and completing the necessary paperwork.

Most teams hold a reflection meeting after it is complete to reflect on the project’s successes and failures. As a result, the team’s overall productivity will increase in the future.

Finally, a detail report on the entire project written at the end of this phase. They have access to all of the necessary data in a secure location.

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