Project management is not a simple task, no matter what the scope and scale are. From planning the specifics to managing the always-changing requirements of clients to shipping the products on time, many things can go wrong.
When you distribute the project into manageable steps, all with their deliverables and goals, regulating the output quality and project is simpler.
In a project management design, if you are in a situation where you are required to manage projects for your client’s organization and feel puzzled, it is best to begin learning about the primary stages of the phases of project management. Various universities offer online project management courses for working professionals to enhance their skills. One such online course is being provided by XLRI. The XLRI project management online courses the ideal for upgrading your skills and working as an excellent project manager.
Till you decide to enroll in one, let’s get you acquainted with the phases of project management.
A project management life-cycle includes 5 different phases: initiation, planning, execution, controlling and monitoring, and closure, which unite to convert a project plan into a working result.
5 Phases of Project Management
- Phase 1: Project Initiation
The project initiation stage is the first step of converting a general concept into a significant goal. In this phase, you must build a marketing case and describe the project broadly. To do that, you must determine the requirement for the project and make a project grant.
The project charter is a vital record comprising the goals, project constraints, project manager selection, the expected timeline, budget, etc.
Once you have the project scope and project goals, recognize chief project stakeholders. These people have to be included in the project. Organize a stakeholder list with the designation, roles, requirements, communications, and influence.
- Phase 2: Project Planning
The project planning phase demands total attention as it puts out the project’s blueprint. Unless you use a modernized project management methodology like agile project management, the second stage of project management is supposed to consist of nearly half of the whole project’s period.
In this stage, the primary responsibilities are to recognize technical demands, create a detailed project program, devise a communication strategy, and establish deliverables/goals.
There are various methods to set up the project’s aims, but C.L.E.A.R and S.M.A.R.T are the most common.
- The ‘SMART’ criteria guarantee that the aims you fixed for your project are critically examined. It is an approved process that decreases risk and enables managers to create acutely described and attainable goals.
- The ‘CLEAR’ process of establishing goals is planned to provide a modern workplace’s dynamic environment. Today’s fast-moving companies demand versatility and quick results, and CLEAR can support you with this.
In the planning phase, the project scope is described. There is a probability that changing the project’s degree is required. Still, the project manager is needed to allow the change. Project managers also generate a work breakdown system, which acutely envisions the complete project in separate segments for the team management.
During the lack of a working development management system, requirement creep happens and creates enormous difficulties for the project team. So, it is better to decrease the probability of unexpected developments as likely as possible.
- Phase 3: Project Execution
The project execution phase is where your team does all the work. As a project manager, your role is to set effective workflows and thoroughly monitor your team’s progress.
Another project manager’s duty when in this stage is to constantly sustain efficient collaboration among the project stakeholders. This makes sure that all stay on the same page and the project operates efficiently without any problems.
You can seek guidance from collaboration software readily available in the market. This software will make your living more manageable, increase efficiency, and increase your team’s productivity.
To get promoted to the position of project manager, you must have excellent experience and skills. Various universities offer online project management courses to help you enhance your skills. XLRI project management online courses are among the best options to explore if you want to upgrade your skillset without quitting your job.
● Phase 4: Project Controlling and Monitoring
In the project management method, the third and fourth stages are not constant in nature. This stage operates together with project execution, which assures that project deliverable and goals are met.
While working as a project manager, you can ensure that no one strays from the initial plan by setting up Key Performance Indicators (KPI) and Critical Success Factors (CSF).
In project management’s monitoring phase, the manager is likewise responsible for numerically tracing the cost and effort. This tracking guarantees that the project continues within the budget and is essential for forthcoming projects.
● Phase 5: Project Closing
This is the final stage of the project management method. The project closing phase symbolizes the completion of the project after the last delivery. There are occasions when outside expertise is hired, especially for the project on a contract basis.
Dissolution of these contracts and completing the required paperwork are also the duties of a project manager.
Most companies hold a thought meeting after the project’s completion to contemplate their achievements and losses during the project. This is an efficient way to guarantee constant growth within the organization to improve the team’s overall productivity in the future.
The final duty of this stage is to evaluate the whole project and complete a comprehensive report that includes every perspective. All of the required data is saved in a secure spot that can be located by project managers of that company.
To Sum Up!
Splitting a project into various stages provides the project a likeness of predictability. It presents a structure to work, making it simpler to prepare and execute. While post-it notes and spreadsheets were sufficient in the past, the demands of current project management have entirely changed.
You require the correct tools to prepare, organize, and track projects. You demand the most suitable project management software to make the project management stages easier for every project.
To have the knowledge of the correct tools, various universities offer project management courses online. Through these programs, you can enhance your skills and improve your understanding of project management.
XLRI project management courses online are the easiest project management certifications. These courses help you to further prepare for future programs and job opportunities. Hurry and enroll in the best project management courses and grab the chance to become a project manager.