Phases Project Life Cycle And Task Management

No matter the size or scope of the project, managing it is no simple task. Many things can go wrong, from planning the smallest details to managing clients’ constantly shifting demands to delivering deliverables on time. It is simpler to control the project and the caliber of the output when it is broken up into manageable stages, each with its own goals and deliverables.In this article you will explore phases of task management and to understand the crux we recommend to join PMP Bootcamp of EDUHUBSPOT

According to a project management guide, it is better to start learning the fundamental phases of the project life cycle if you are somehow in a position where you are expected to manage projects for your organization and are feeling overwhelmed.

Initiation, planning, execution, monitoring, and closure are the five distinct phases that make up a project management life cycle, according to the PMBOK Guide (Project Management Body of Knowledge) by the Project Management Institute (PMI), which together transform a project idea into a usable product.

Project management has five stages.

In the project management process, there are 5 fundamental phases:

• Project Start-Up
• Project Management
• Project Management
• Project Supervision and Control
• Project Completion

Phase 1: Starting the project

The first step in transforming an intangible idea into a worthwhile objective is the project initiation phase. You must create a business case and provide a broad definition of the project at this stage. You must first ascertain the project’s need and establish a project charter to accomplish that.

The project charter is a crucial document that includes information about the project’s limitations, objectives, selection of the project manager, budget, anticipated timeline, etc.

Determine the key project stakeholders or the people who will be involved in the project, once you have the project goals and the project scope. Make a list of the roles, titles, influence, and communication requirements of the stakeholders.

Although the project’s goal is clearly defined during this phase, a project charter does not include any of the technical details that are worked out during the planning phase.

Consider the case of an automaker tasked with creating an electric vehicle. The choice of the vehicle’s design, volume, and battery power will not be made during the initiation phase. The only certain thing is that an electric vehicle will be developed within the allotted budget and time.

Phase 2: Planning the project

Complete diligence is required during the project planning stage, which establishes the project’s road map. The second stage of project management is anticipated to take close to half of the total project time unless you’re using a contemporary project management methodology like agile project management.

Technical requirement identification, project schedule development, communication planning, and goal/deliverable setting are the main tasks in this phase.

Goal-setting can be done in several ways, but the most common ones are S.M.A.R.T. and C.L.E.A.R.

S.M.A.R.T. objectives

The “SMART” criteria make sure that your project’s objectives are thoroughly examined. It is a tried-and-true technique that lowers risk and enables project managers to set goals that are specific and doable.

C.L.E.A.R. Objectives

The “CLEAR” method of goal-setting is intended to accommodate the dynamic nature of a contemporary workplace. Citizen developers can benefit from CLEAR’s flexibility and quick turnaround times, which are essential in today’s fast-paced businesses.

The project scope is established during the planning phase. If the project’s scope calls for it, changes may be made, but the project manager must approve them. Additionally, project managers create a work breakdown structure (WBS), which divides the entire project into manageable sections for the team.

Another crucial component of the planning stage is a thorough project timeline that includes each deliverable. Project managers can create a project communication plan and a schedule of communication with the pertinent stakeholders using that timeline.

Another crucial component of project management that is addressed during the planning stage is risk mitigation. The project manager must extrapolate historical data to find potential project management risks and create a plan to reduce them.

An efficient change management plan is a crucial component that experts frequently ignore. To prevent bottlenecks and project delays, you must be prepared to make a few changes to the project.

Scope creep occurs when there is no functioning change management strategy in place, which poses serious issues for the project team later on. It is therefore best to minimize the likelihood of unanticipated changes.

Phase 3: Executing the project

The actual work is done by your team during the project execution phase. It is your responsibility as a project manager to create effective workflows and closely monitor the development of your team.

During this phase, the project manager also must consistently uphold productive stakeholder collaboration. This makes sure that everyone is on the same page and that everything goes off without a hitch during the project.

The top project collaboration tools on the market can be of assistance to you. Not only will they simplify your life, but they’ll also boost team productivity and efficiency.

Phase 4: Project oversight and management

The third and fourth phases of the project management process are not necessarily sequential. By running concurrently with project execution, the project monitoring and controlling phase make sure that goals and project deliverables are met.

By establishing Critical Success Factors (CSF) and Key Performance Indicators, you can ensure that no one deviates from the original plan as a project manager (KPI).

The manager is also in charge of quantitatively tracking the effort and cost incurred throughout the process during the monitoring phase of project management. This tracking is crucial for current projects as well as ensuring that the project stays within budget.

5th phase: project completion

The project management process ends at this stage. The project’s conclusion after the last delivery is signaled by the project closure stage. External talent may occasionally be contracted out specifically for the project. The project manager is also in charge of ending these contracts and completing the necessary paperwork.

After the project is finished, the majority of teams have a reflection meeting to discuss the project’s successes and failures. This is a practical way to guarantee ongoing development within the business and boost team productivity in the long run.

Reviewing the entire project and writing a thorough report that covers every aspect is the last task of this phase. The project managers of that organization have access to all necessary data, which is kept in a safe location.

Streamline your project management methodology.

These days, it’s typical to store all project-related documents using cloud-based project management software.

Creating different phases for a project gives it a sense of predictability. It provides a framework for action, making it simpler to plan and carry out. In the past, spreadsheets and post-it notes were sufficient, but today’s demands for digital project management are entirely different.

To organize, track, and plan projects, you need the appropriate tools. To make the project management phases for each project simpler, you need online project management software.

Author:Varun Anand is the Project management expert, PMP mentor and a trainer at EduHubSpot. His Project Management institute (PMI) certification includes Project Management Professional (PMP), PMI-ACP, PfMP, and CAPM. He has also done CSM certification from Scrum Alliance. Varun is an engineering graduate from the University of Maryland, Baltimore.

With over 10 years of experience in training students for PMP certification Exam, Varun is an internationally known Project Management speaker and educator. He has trained thousands of professionals, earning widespread respect in the industry. At EduHubSpot, he brings the practical side of Project Management to life, helping professionals master PMP from anywhere. He is also an experienced and renowned author.