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Phases of Project Management | Step-By-Step Process | Expert’s Top Picks

Last updated on 02nd Nov 2022, Artciles, Blog

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    • In this article you will get
    • Overview of Project Management
    • S.M.A.R.T Goals
    • C.L.E.A.R Goals
    • Common pitfalls to avoid

Overview of Project Management

Project management is the process of planning, organising, motivating, and controlling resources, methods, and protocols to reach certain goals in scientific or daily situations. It consists of a number of activities such as identifying objectives, making a strategy, allocating tasks, monitoring progress, and assessing results. It is utilised to guarantee the efficient and effective utilisation of resources in order to accomplish a project on time and within budget.

Project management includes engaging with stakeholders, partners, and other project participants to ensure that the project is completed on schedule and within budget. It also necessitates efficient communication to ensure that everyone working in the project is informed of their roles and the project’s progress. Furthermore, project management includes managing risks, disagreements, and changes that arise during the course of the project.

The project management process is divided into five distinct phases, each of which is designed to help ensure the success of a project:

  • Initiation Phase
  • Planning Phase
  • Execution Phase
  • Monitoring and Controlling Phase
  • Closure Phase
Project Management

Phase 1: Initiation

Initiation is the initial stage. The idea for the project must be developed at this phase, along with a project plan and stakeholders. At this point, it’s crucial to make sure that all parties involved are included and that the project strategy is properly established.

A key document, the project charter, contains information on the project’s constraints, objectives, selection of the project manager, budget, anticipated schedule, etc.The ideal way to include internal and external stakeholders from the project’s inception phase is to achieve the project’s aim. In this manner, you can efficiently set expectations in line and raise the possibility of completing all the deliverables during the course of the project management life cycle.

Consider an automotive firm tasked with developing an electric vehicle. The design, capacity, and battery power of the vehicle will not be chosen at the commencement phase. The only certainty is that an electric car will be created within the time and budget constraints.

Phase 2: Planning

The planning phase is the second stage. The project manager will build a project timeline, identify the resources needed, and generate a budget during this phase. This contributes to the project being finished on schedule and under budget.There are various approaches for establishing project goals, but S.M.A.R.T. and C.L.E.A.R. are the most common.

S.M.A.R.T Goals

The S.M.A.R.T criteria guarantee that the project goals you specify are rigorously examined. It is a tried-and-true strategy that helps project managers to set clear, attainable targets.

Specific:Answer the following questions to define precise goals: Who, what, where, when, which, and why.

Measurable:Create criteria for measuring a goal’s achievement.

Attainable:Determine the most critical goals and the steps required to attain them.

Realistic:You must be eager and able to work for a certain objective.

Timely:Make a timetable for completing the task.

C.L.E.A.R Goals

A fresh way of goal-setting that takes into account the fast-paced climate of today’s enterprises.

Collaborative:Employees should be encouraged to collaborate.

Limited:To make things manageable, they should be restricted in scope and duration.

Emotional:Goals should appeal to employees’ passions and be something to which they can emotionally identify.

Appreciable:Break down huge ambitions into smaller, more manageable activities.

Refinable:Be adaptable and revise goals when new conditions emerge.

During this stage, a project manager will produce the following papers to make sure the project stays on schedule.

  • Making the scope declaration.
  • Creating the schedule.
  • Creating the budget.
  • Human Resource Management.
  • Structure planning for project breakdown.
  • Defining deliverables.
  • Risk management.
  • Communication strategy.

Phase 3 : Execution

The execution phase is the third stage. The project is really carried out at this phase. It comprises managing the resources allotted to the project as well as carrying out the project plan.Another job of the project manager at this phase is to ensure that project stakeholders continually collaborate effectively. This guarantees that everyone is on the same page and that the project proceeds well.Documents developed during the Execution Phase of the project management life cycle include quality assurance documentation, meeting minutes, and Work Orders.

Phase 4 : Monitoring and controlling

Monitoring and controlling make up the fourth stage. The project manager will keep an eye on the development of the work throughout this phase and make any alterations required to guarantee that the project is finished on schedule.

The manager is also accountable for quantitatively measuring the effort and expense incurred throughout the process during the monitoring phase of project management. This tracking is crucial for current initiatives as well as ensuring that the project stays within its budget.

Phase 5 : Closure

The closing phase makes up the fifth stage. At this stage, all parties involved in the project have given their approval and the project is finished. Prior to the project being formally ended, it is crucial to make sure that any problems discovered during the monitoring and controlling phase have been resolved.

In order to reflect on their accomplishments and setbacks throughout the project, the majority of teams have a reflection meeting once it is over. In order to increase the team’s total productivity in the future, this is a practical way to guarantee continual progress inside the organisation.

Benefits of Project Management

Common pitfalls to avoid

1.Not defining a clear vision:To be successful, a project must have a distinct goal and direction. The project will lack concentration without a defined vision and is likely to get off track.

2.Poor communication:Confusion, missed deadlines, and expense overruns can result from poor communication. Making sure that everyone working on the project is on the same page is crucial.

3.Not managing expectations:For the project, it’s crucial to have reasonable expectations. A set of unrealistic expectations may result in disappointment and annoyance.

4.Not delegating tasks:It’s crucial to assign duties and obligations so that everyone may concentrate on their individual responsibilities. The timely completion of assignments will also be ensured by doing this.

5.Not establishing a timeline:Every project should have a timeframe established. It’s critical to guarantee that the timeframe is understood by all parties and that they follow it.

6.Underestimating the time and resources required:It’s critical to calculate the project’s time and resource requirements precisely. There may be delays and cost overruns if these estimates are too low.

7.Ignoring risk management:Any project must include risk management. It’s crucial to recognise potential dangers and make appropriate plans.

8.Not tracking progress:In order to spot any possible problems, it’s crucial to monitor the project’s development. As a result, the project’s progress will be further supported.

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