Project Management Processes and Phases Explained
Project Management uses knowledge, skills, tools, and technology to deliver something valuable to people. Project Management is considered one of the critical processes of any project.
When it comes to the activities of Project Management, there are varieties of processes and phases. These Project Management activities are categorized into five main processes.
- Project Initiation
- Monitoring and Controlling
Let’s look into the five main Project Management processes in detail.
Project Management Processes
The project starts during this stage of project management. Stakeholders are identified, and the project charter is produced during this phase. Activities about winning a project take place throughout this process.
You will define the project, organize the objectives, scope, and resources, and decide which team members will play what responsibilities throughout the initiation phase. Typically, you’ll learn the answer to the “What” query during this stage.
Giving the project and team a clear direction will help them accomplish their goals and meet the expectations of their stakeholders.
The service provider convinces the client that they are qualified and can finish the assignment and ultimately receive their order.
This is the second phase of Project Management, where the project plan is developed. That means project costs are estimated, resources are determined, and requirements (scope and work breakdown structures) are defined. This is the phase where risks are identified and planned for, and communications are built.
The project planning phase requires complete attention as it lays its roadmap. Various Project Management methodologies, like Agile Project Management methodology, are used to plan for the project.
You’ll decide on the essential paperwork, source materials, timelines, and milestones. This step also entails estimating and forecasting risk, implementing change management procedures, and developing communication protocols.
If gathering troops is the initiation phase, then determining what to do with them is the planning phase.
Executing a project means putting your plan into action and keeping the team on the right track. Generally, this means tracking progress, managing quality, mitigating risk, and managing the budget. Your team works on actual tasks at this point. As a project manager, you create effective procedures and closely observe the development of your team. In terms of execution, every team member completes their tasks by the deadline set for each activity.
Project Monitoring and Controlling
The monitoring and controlling phase achieves the objectives and deliverables while the project is being carried out. Since quality, scope, and cost/time allocations are examined at this phase, execution and this phase are typically carried out simultaneously.
Throughout the project management monitoring phase, the project manager keeps tabs on the time and money spent on the procedure. The tracking ensures the project stays within budget, which is essential for subsequent initiatives.
The control can be done by following early procedures, including the project’s project, quality assurance, test, and communication plans.
The project is finished at this point; the deliverable is handed to the client, the stakeholders are notified that the project is finished, and all resources are returned to the resource manager.
The project is accepted and paid for by the customer if the project deliveries meet the client-defined acceptance criteria.
Project Management is a responsible process. The project management processes connect all other project activities and create harmony. Therefore, the project management teams should have a clear concept of all the project management processes and the tools they can use for each project management process. To become the best in project management, choose Education Nest.
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