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5 phases of project management

Learn the 5 Key Project Management Phases that every project manager knows. Perfect information for those professionals curious about how Project Managers plan their projects.

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5 phases of project management
Table of Contents
I. Project Life Cycle
II. Project Initiation Phase
III. Project Planning Phase
IV. Work Breakdown Structure
V. Execution Phase
VI. Monitoring and Control Phase
VII. Project Closeout Phase
2
Project Life Cycle
The 5 Phases of Project Management is also called the Project
Lifecycle. The 5 Phases of Project Management consist of:
 Project Initiation Phase
 Project Planning Phase
 Execution Phase
 Monitoring and Control Phase
 Project Closeout Phase
3
Initiation Phase
 The beginning phase of every project where a project
manager is selected.
 The project manager will meet with the project sponsor and
key stakeholders to determine the business or technical
objectives of the project.
 Determine any historical information regarding the project.
Begin to identify who is needed on a project team.
Key Outputs of this phase are:
 Develop Project Charter
 Develop Preliminary Scope Statement
 Identification of all stakeholders
 Divide the project into Phases
4
Planning Phase
 One of the largest and most important phases of every project.
The project manager will determine the team, identify roles and
responsibilities and solidify a scope statement.
 At this phase the project manager will begin to develop different
project plans.
They consist of :
 Communication Plan (How will you communicate to your team, to
your stakeholders?)
 Risk Plan (How will risks be documented how will they be
escalated?)
 Testing Plan
 Project Schedule (Timeline)
 Develop a WBS – Work Break Down Structure A work break down
structure is key because it breaks down the work into
manageable work activities and/or tasks.
5
Work Break Down Structure
6

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5 phases of project management

  • 2. Table of Contents I. Project Life Cycle II. Project Initiation Phase III. Project Planning Phase IV. Work Breakdown Structure V. Execution Phase VI. Monitoring and Control Phase VII. Project Closeout Phase 2
  • 3. Project Life Cycle The 5 Phases of Project Management is also called the Project Lifecycle. The 5 Phases of Project Management consist of:  Project Initiation Phase  Project Planning Phase  Execution Phase  Monitoring and Control Phase  Project Closeout Phase 3
  • 4. Initiation Phase  The beginning phase of every project where a project manager is selected.  The project manager will meet with the project sponsor and key stakeholders to determine the business or technical objectives of the project.  Determine any historical information regarding the project. Begin to identify who is needed on a project team. Key Outputs of this phase are:  Develop Project Charter  Develop Preliminary Scope Statement  Identification of all stakeholders  Divide the project into Phases 4
  • 5. Planning Phase  One of the largest and most important phases of every project. The project manager will determine the team, identify roles and responsibilities and solidify a scope statement.  At this phase the project manager will begin to develop different project plans. They consist of :  Communication Plan (How will you communicate to your team, to your stakeholders?)  Risk Plan (How will risks be documented how will they be escalated?)  Testing Plan  Project Schedule (Timeline)  Develop a WBS – Work Break Down Structure A work break down structure is key because it breaks down the work into manageable work activities and/or tasks. 5
  • 6. Work Break Down Structure 6
  • 7. Planning Phase The number of outputs for the planning phase is large and that is why the planning phase should be given adequate time for planning. *Please keep in mind that this phase will have is an iterative process. Everything will be revised until all parties agree on the outputs and formal approval is given. Triple Constraint Is the methodology that if there is a change in cost, then the change will impact schedule or the scope and vice versa. 7
  • 8. Planning Phase Key Outputs of this phase are:  Create WBS and WBS Dictionary  Develop Schedule  Develop Budget  Determine roles and Responsibilities  Develop Communication Plan  Develop Risk Plan  Create Performance measurement baselines  Develop Preliminary Scope Statement  Test Plan  Determine the Critical Path  Prepare procurement documents  Create Process Improvement Plan  Gain Formal Approval of all plans and key deliverables * After that you as the project manager are good to Launch Kickoff Meeting! 8
  • 9. Execution Phase  This phase is where you do the “work” or execute the plan. This phase typically requires the most amount of time since the majority of the work is done in this timeframe.  You will solidify the team; conduct teambuilding exercises.  Hold progress and status meetings  Follow the processes in your project plans.  Recommend changes and corrective actions.  Continuous Improvement Key outputs of this phase are:  Signoff that key milestones are complete.  Documented performance reports 9
  • 10. Monitor and Controlling Phase  The phase where results derived from your new process or product are compared to the metrics you outlined in your performance plan.  Implement your change control process  Determine variances and identify if they warrant corrective action or change  Facilitate conflict Resolution  Use Issue Logs Key outputs of this phase are:  Receive all signoffs that work is completed as per requirements.  Archive all project assets  Create and document lessons learned 10
  • 11. Project Closure Phase This is the final phase of the project life cycle.  Develop closure procedures.  Document final performance reporting  Handoff completed product, process or code.  Release resources  Complete contract closures. Key outputs of this phase are:  Receive all signoffs that work is completed as per requirements.  Index and archive all project assets  Create and document lessons learned 11