Project Management Phases: From Inception to Completion
To establish a worldwide footprint, businesses across all sectors strive to provide quality. Project management is essential for all organizations to succeed, whether managing a large conglomerate or a small corporation. In all significant sectors, project management is becoming more critical. Whether you are a seasoned or a new project manager, you know that each project has its own set of challenges. Various factors cause failures in projects, but unrealistic expectations, shifting priorities, poor communication, and scope creep are some of the most prevalent causes. This article at Coursera speaks about the four project management phases.
Project Management Phases
A project is guided by project management phases, a step-by-step structure of best practices. To ensure a project’s success, managers and executives need to be familiar with the DOs and DON’Ts of a project life cycle. Project management stages are typically consecutive, but they might have overlapping relationships. Initiating, planning, executing, and closing are the four phases of this project management method. Some may add a fifth step, monitoring and controlling, during the execution and closing phases.
Initiating – You should identify the project’s scope and objective and the resources required to accomplish it. This sets a clear expectation for all stakeholders, internal and external.
Planning – Budgets, timelines, milestones, resource materials, and documents are outlined here. Additionally, determining and predicting risk, putting change processes into place, and defining communication protocols.
Executing – To execute a project, you implement your plan and keep the team focused. Typically, this involves setting goals, monitoring progress, managing quality, mitigating risks, managing budgets, and using data to guide decisions.
Completing – During the closing phase of the project management lifecycle, the project team ensures all activities are complete. The product or service is handed over to the new owner, and issues are resolved.
To read the original article, click on https://www.coursera.org/articles/project-management-lifecycle
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