As mentioned in the planning phase, you’ll want to track your resources, your productivity, your cash flow and anything else that could potentially affect the success of your project. Monitoring and control is all about tracking your project against Key Performance Indicators and ensuring you are on track and on budget for delivery. While this is phase four, this often runs concurrently with Execution, as this stage is all about keeping a project on track. The next phase of any project management life cycle, is Monitoring and Control. If you work in a remote team (as many of us do now), even asynchronous communication becomes easier and enables better collaboration. You may also need to set up time tracking measures in place to effectively track your billable utilization and overall productivity.Ī project management tool like Mission Control can make collaboration and teamwork for your projects a much easier and streamlined process. This is where the planning turns into action and the actual work happens for the project.Īs your team begins to do the work involved, the project manager will need to establish good workflows for the team to effectively work together and collaborate. Other things that project managers will need to consider during the planning phase include: risk management and mitigation, change management as well as effective resource planning and utilization. You will need to set a timeline for each deliverable and set up a communication schedule for all project stakeholders. You will also need to outline project activities, tasks, dependencies, and time frames as well as costs-the three fundamental components of the planning process. You will also take the project goals and expand on them in the planning stage so you can determine what it will take to achieve every goal. Depending on the project management methodology you follow, this phase may take up at least half of the entire life cycle of your project. Planning is where you will define all the work that needs to be done for your project. Without a good project plan, you may risk delayed delivery, budget blow outs or even just not having adequate resources to deliver the project as planned. Planning is a critical phase as this sets out the roadmap your project will follow.
#Project life cycle how to
This is all about how to actually do what needs to be done. Next, we move on to Planning, which is an essential part of any project management life cycle. You will set the project charter which will outline the vision, constraints and goals for the project.ĭuring this phase, you will also define a high level project scope, deliverables, budget and resources so you can start developing an idea of what’s needed in order for the project to be successful. You will work closely with your client to turn what may sometimes be an abstract idea into a meaningful business goal.Īs the project manager, it will also be your responsibility to determine the need for the project and make sure it’s aligned with business objectives. Initiating a project starts by kicking off a project with your client and your team. This is where you define what needs to be done for the project.
The very first phase of the life cycle is Initiation. The Project Management Life Cycle Phase 1: Initiation Here’s a more in-depth look at each of the phases. Ultimately the five stage framework helps ensure project managers can complete a project successfully.
Project Management Life Cycles are fundamental to the management of project-work as they provide the framework for all the stages a project needs to go through to take a project from concept to reality in an organised and orderly fashion.Īccording to the A Guide to the Project Management Body of Knowledge (PMBOK Guide) by the Project Management Institute, the Project Management Life Cycle is made up of five key phases: It includes every step of delivering a project-starting at the very early stages of planning a project and ending with delivery and all the steps taken in between. The Project Management Life Cycle is basically the life of a project, from start to finish.
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