Many of the business organizations have a tendency to be disorganized. Every team and department have their own way of doing things, which harms efficiency and productivity. Implementation of proven project management phases and processes in the business organization tends to bring the company’s workflow under control.

Managers, analytics professional and working executive can derive exceptional benefits from business management online courses such as project management certification from IIM Raipur. These brilliant courses give top insights into the practical adaption of the project management process.

Phases of Project Management

Project phases help to organize the unwieldy project aspects by breaking them into smaller and more digestible components. The 5 phases of project management are:-

• Initiation

The value and feasibility of the project are determined at the project’s beginning. This first stage is the business case which includes the reasons for the justification of the project. The feasibility study consists of the evaluation of project goals, the timeline for completion, and the cost of the whole endeavour.

• Planning

This is a critical process which requires to put together a project team and to configure steps on management planning. Business management online courses act as knowledge boosters to aspiring managers and help the organization to achieve the outcomes within budget and on time.

Project management certification from IIM Raipur imparts valuable learning resources on different aspects of financing and operations such as scope, tasks, schedule, cost, quality, staff, and communications.

• Execution

This is the phase in project management where the rubber hits the road and consists of precise processes such as:-

Plan Execution: This stage consists of task assignments to team members and monitoring the project progressions using dashboard tools.

Administration: This stage comprises of management of contracts secured during the project.

• Monitor and Control

All components should be monitored and adjusted as need be to ensure that the project is on track.

• Close

Closing the process is the last phase which involves:-

Scope: Making sure that project deliverables are concluded as planned

Administration: Close all pending contracts, archiving the paperwork and distribution to proper parties.

Implementation of Project Management Processes

Projects are best managed when there are uniform methodology and managerial expertise. Here are the principal steps for implementing project management process.

• Get Approval from Top Management

Success project transition is only possible when the top management is committed and invested for the long haul.

• Survey Your Standard Project Types

Categorization of various projects into groups enables a better understanding of the extent of implementation and the requisite steps for successful completion of the PM process.

• Analyse Project Details

Analysing the project individually helps to realize the series of steps that are needed for achieving success.

• Execution Using Templates and Tools

The project management process is best implemented using templates and attachments to direct teams and provide them with a collaborative platform.

Summary

Business management online courses offer the precise tools and knowledge of project phases and process to make any project manageable. Top managerial expertise is needed to guide the team members during project planning and execution phases.