Project management as a process is not simply overseeing assignments or projects in place. Instead, the project management process is a crucial aspect to ensure that the systems in place are running efficiently and effectively, and that final results are achieving the initial goals set out before execution.
Therefore, the project management process needs a particular method and strategy to manage deadlines and resources. The process should contain documentation, methodology, planning, information and analysis and necessary briefing and workshopping.
What is the Project Management Life Cycle?
The project management life cycle refers to the different components, or phases, of a project. A project, which is spearheaded by a project manager, has a fundamental starting point that undergoes important steps before coming to a close. If you ensure that you have studied the fundamentals of project management for successful implementation.
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What are the Four Phases of Project Management?
The project management process can be broken down into the four-phased life cycle, which follows the following steps:
- Initiation,
- Planning,
- Execution, and
- Analysis.
1. Initiation
Before anything, you need to consider the needs of the business, research the problem and identify an opportunity. From there, it’s essential to brainstorm how you can meet the need or offer a solution to enable the best systems for the company. During the first phase of the project management life cycle, you discover whether the project is viable and realistic. If it is, you will be able to determine realistic deliverables and consider what might be worthwhile pursuing.
2. Planning
If a project is given the go-ahead, it takes a step into the planning phase of the project management life cycle.
When planning, the tasks of the project are broken down into smaller chunks and investigated how best to prioritise particular elements with resources and schedules in place. Smaller assignments are created to cater to the bigger goals and agendas and checklists are incorporated into the project.
The smaller tasks offer achievable results which promote productivity which ultimately yields higher success of the project overall.
3. Execution
Once the full process of planning has been completed, the project management process moves to action. In the execution phase, all planning of the project is implemented and the project manager ensures the right tasks are conducted by the right team members within the allocated time frame and using the resources required. If work goes according to plan in the execution phase, it means planning has been successful and that strategies to combat any potential roadblocks have maintained a smooth workflow.
4. Analysis
Once the work has been actioned and execution has come to a close, the project has one more phase before conclusion.
In the analysis phase of the project management process, a full analysis and debrief is needed to determine what went right, what could have been better, how things can be improved, and what success can be repeated in the next project. The analysis phase is crucial in the life cycle to refine systems. While the evaluation of the project is often skimmed over before a new project enters the initiation phase, it is a crucial wrap up in the process and should be treated as such.
