Project Lifecycle

The phases of a project life cycle

Regardless of what kind of project you are planning, every project goes through the same stages. Although each project will require its own set of unique processes and tasks, they all follow a similar framework. There is always a beginning, a middle, and an end. This is called the project lifecycle.

The Initiation phase

The initiation phase is the first phase of the entire project management life cycle. The goal of this phase is to define the project, develop a business case for it, and get it approved. During this time, the project manager may do any of the following:
  • Perform a feasibility study.
  • Create a project charter.
  • Identify key stakeholders.
  • Select project management tools.
By the end of this phase, the project manager should have a high-level understanding of the project’s purpose, goals, requirements, and risks.

 

The Planning Phase

The planning phase is critical to creating a project roadmap the entire team can follow. This is where all the details and goals are outlined to meet the requirements laid out by the organization.
 
During this phase, project managers will typically:
  • Create a project plan.
  • Develop a resource plan.
  • Define goals and performance measures.
  • Communicate roles and responsibilities to team members.
  • Build out workflows.
  • Anticipate risks and create contingency plans.
The subsequent phase (execution) generally starts with a Project kickoff assembly wherein the project manager outlines the undertaking goals to all stakeholders involved. Before that assembly happens, it is miles important for the Project manager to do the following:
  • Establish desires and deliverables.
  • Identify your team individuals and assign tasks.
  • Develop a draft Project plan.
  • Define which metrics can be used to degree Project success.
  • Identify and put together capability roadblocks.
  • Establish logistics and schedules for team communication.
  • Choose your chosen Project Management methodology.
  • Ensure your team has got admission to and understanding of the applicable tools.
  • Schedule the assembly
  • Set the schedule and put together the slides.
 

The Execution Phase

This stage is where the bulk of the project happens. Deliverables are built to make sure the project is meeting requirements. This is where most of the time, money, and people are pulled into the project.
 
As previously mentioned, a kickoff meeting is held to mark the official start of the execution phase. A kickoff meeting agenda might look something like this:
  • Introductions: Who is who?
  • Project background: Why are you doing this project? What are the goals?
  • Project scope: What kind of work is involved?
  • Project plan: What does the roadmap look like?
  • Roles: Who will be responsible for which elements of the project?
  • Communication: What kind of communication channels will be used? What kind of meetings or status reports should your team expect?
  • Tools: Which tools will be used to complete the project, and how will they be used?
  • Next steps: What are the immediate action items that need to be completed?
  • Q&A: Open the floor for any questions.
 
 

The Controlling and Monitoring Phase

This phase happens in tandem with the execution phase. As the project moves forward, the project manager must make sure all moving parts are seamlessly headed in the right direction. If adjustments to the project plan need to be made due to unforeseen circumstances or a change in direction, they may happen here.
 
During the controlling and monitoring phase, project managers may have to do any of the following:
  • Manage resources.
  • Monitor project performance.
  • Risk management
  • Perform status meetings and reports.
  • Update project schedule
  • Modify project plans.
At the end of this phase, all the agreed project deliverables should be completed and accepted by the customer.

Project Closure

The closing phase is a critical step in the project management life cycle. It signals the official end of the project and provides a period for reflection, wrap-up, and organization of materials.
Project managers can:
  • Take inventory of all deliverables.
  • Tie up any loose ends.
  • Hand the project off to the client or the team that will be managing the project’s day-to-day operations.
  • Perform a post-mortem to discuss and document any learnings from the project.
  • Organize all project documents in a centralized location.
  • Communicate the success of the project to stakeholders and executives.
  • Celebrate project completion and acknowledge team members.
Now that you understand each stage in the project life cycle, choosing the right project management tool for you and your team is critical to project success. Read on for best practices when choosing a tool that fits your needs, and a guide to the features you should consider when assessing a project management software.
 
© 2021 Restya All Rights Reserved.

[contact-form-7 id=”8″ title=”Contact Modal”]