What Are The 4 Main Stages Of The Water Cycle – Whether your business goals are big or small, an organized approach that integrates different departments is essential. Knowing the four stages of the project management life cycle is essential to keeping your project organized and on track from inception to closure.
The Project Life Cycle is a sequence of activities that are indispensable for achieving the project’s goals or objectives. Projects may have different sizes, scopes, and levels of difficulty, but regardless of size: large or small, all projects can be scheduled in a given lifecycle structure.
What Are The 4 Main Stages Of The Water Cycle
The project management life cycle defines the high-level processes for delivering a successful project. You can save your money and assets through well-structured project management. Studies show that 60% of projects fail because of a breakdown in communication between multiple departments. During the phases of the project life cycle, you will develop the idea for a project, explain its goals, propose its implementation, and guide it to close.
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The project management life cycle is generally divided into four phases: initiation, planning, execution, and closure. These stages form the track that takes your project from start to finish.
The initiation phase describes those procedures necessary to start a new project. The purpose of the project initiation phase is to organize what the project should do. The first requirement of a project is to identify a business need, problem, or opportunity and think of ways your team can meet this need, break this problem, or capture this opportunity. In this phase, you outline a goal for your project, determine if the project is feasible, and identify key deliverables for the project.
All project-related material is added to the Pr oject Charter and Stakeholder Register. When the project charter is accepted, the work will be officially authorized.
The project planning phase covers about 50% of the entire process. The planning phase controls the scope of the project as well as the objective of the project. Planning begins with the results of the initiation phase. The output of the planning phase is the input for the implementation phase.
In this phase of the project management life cycle, you break down the larger project into smaller tasks, build your team, and schedule tasks. Create smaller goals within a larger project, making sure that each one is achievable within a given time frame. Small ends should have great potential for success.
This phase consumes most of the project’s cost, time, and resources because it is the process that produces the project’s deliverables. The implementation phase is turning your plan into action. In this phase of the project life cycle, the project manager’s job is to keep the work on track, develop team members, manage timelines, and make sure the work is done according to the original plan. At this stage, expert decisions, conferences, and KPI (Key Performance Indicators) reporting are of great importance.
According to your project management schedule and methodology, there are many visual tools you can apply to see which deliverables have been completed to ensure your project stays on track. You can use our Gantt Chart template for this.
After the implementation phase, we need to check whether the project is on the right track or not. In the closing phase, the monitoring and control phase becomes active. Many changes and reviews to improve the performance of the project need to be done. In the closing phase, you release project resources, provide final deliverables, and ensure project success. After implementation, don’t think your project manager’s job is done—there are still important things to do, including assessing what did and didn’t work on the project.
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By sticking to the task even after the project’s work is done, you’ll be ready to take everything you’ve gained and implement it for your next project.
The closing phase is the process that produces a controlled closure of the project at the end.
The stakeholder register and project charter are also useful in other project management process groups such as the planning process.
The planning phase determines the scope as well as the goal of the project. This includes creating a set of plans that direct you through the implementation and closing phases of the project. The execution step includes the activities described in the project management plan. This is the longest phase of the project life cycle and consumes maximum effort and resources. Operations performed during the implementation phase may affect the plan or project management documents.
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During the implementation phase, the result may require re-base lining and bring it up to date with the current requirements of the project.
The monitoring and control phase confirms that the deliverables are according to the project management plan before the closing phase. The main focus of this phase is to sort out any changes made from the point of view of the project management plan to determine preventive action against any unexpected results.
The closing phase is the process that carries out the organized closing of the project at the end. This article provides only a brief overview of the project management life cycle. Each phase has several sub-phases which we will discuss in future posts.
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