What Are the Phases of Project Management?

 

What Are the Phases of Project Management?

To increase control and quality, project management is often performed in stages. For example, large projects can be divided into smaller stages with specific deliverables and performed in a particular order. After each phase, a review is generally conducted of the deliverable and the project team's effectiveness. This assists the team in determining whether the project will proceed into the next stage or is subject to revision. This helps to determine how to improve performance for all involved. Altogether the stages of a plan are referred to as the project life cycle and the industry-standard document. The Project Management Body of Knowledge (PMBOK) explains this in greater detail.


They are the five phases of managing projects


To make a project simpler to plan and control, its work can be divided into phases, each with similar tasks, leading to an important deliverable. The conclusion of each phase is then celebrated with an important milestone in the project. So what are the phases of project management? These five phases correspond to the project management processes groups within the PMBOK. 


The phases of project management are:


Stage 1: Initiation


This stage of project management marks the beginning of the project. It is also where the project's charter is created and stakeholders are identified.


Stage 2: Planning


This is where the plan for the project is created. This is where costs are determined, resources are identified, and requirements (scope, breakdown structure, etc.).) Are set. This is where risks are identified and managed and where communication is built.


Stage 3: Execution


The project phase is the stage where the project will be executed while sourcing resources and managing stakeholder expectations.


Stage 4: Monitoring/Controlling


This phase is often carried out simultaneously as execution since this is where the quality, scope creep, and time/cost allocations are analysed.


Stage 5: Closing


This is the last phase of managing the project. The delivered product is then presented to the customer. Stakeholders are informed about the project's completion. The resources are then returned to the resource managers.


What is a life cycle in project management?


You may be wondering what the life cycle is in terms of project management. It's the series of phases that the project experiences from the beginning until the end. The life cycle can be described as the sum of all activities necessary to accomplish its goals. Following the five phases of a project's life cycle will enable your team to complete an undertaking and provide you with the data to help improve your project for the next time.


The work management system is a platform where you can track, organize, make strategies, and can review, or change both projects and non-project tasks to improve your business results and team performance. Ultimate Business System (UBS) provides one of the best project management system software where you can manage all your professional work, task.

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