At the beginning of a specific project, the amount of planning and efforts required can come across as overwhelming. There may be dozens of responsibilities that need to be completed at the right time and in the right sequence.
Dividing your project management endeavours into phases will allow you to structure and simplify them into a sequence of manageable and logical steps. Discussed below are the five stages of the project management that you should know about or you get them here project management assignment help.
Stage 1: Project Initiation
The first stage of the project management process is all about giving the project a broad definition and determining whether or not it’s possible. Project managers ideally employ two methods to decide whether or not to pursue a project. One of them is business case doument and the other one is feasibility study. It emphasises on the assessment of the project’s objective, timeline and expenses to determine if the project should be executed with key principles of management. It balances the requirements of the project with available resources to see if pursuing the project makes sense.
Stage 2: Project Planning
- Determining the scope of the project
- Elaborating on what exactly needs to be done
- Deciding the timeline for deliverables
- Putting together a workflow schedule
- Evaluating and arranging the resources that are required
Stage 3: Project Execution
- Accumulating the necessary resources
- Creating individual tasks
- Assigning responsibilities to the individual team members
- Executing the tasks
- Offering the deliverables within deadlines
- Updating the progress of the project
Stage 4: Project Monitoring and Control
There are a few metrics or Key Performance Indicators (KPIs) which can be used to assess a project’s performance. And they are project objectives, quality deliverables, effort & expense tracking, and project performance.
Stage 5: Project Closure
Teams ideally close a project when they provide
- The final product to the customer
- Inform the completion of the project to the stakeholders and
- release resources to other projects