What are the phases or stages in project management

Phases of project management

There are common five phases or stages in project manager. According to the project type task of each phase may be varied. Those five phases are as below.

1.Initiation

2.Planning

3.Execution

4.Monitoring and control

5.Completion

Under the each phases following task shall be conducted.

Initiation

This is the first phase in project management. The Goals of project shall be defined in initiation phase. Further, creating of business case or project charter also in the initiation phase. According to the size and type of project, you can decide what you need project charter of business case.

Stakeholders are important part in project and project management. Then in the initiation phase it is suitable to draw up a list of stakeholders.

Planning

After finalizing initiation phase, planning process can be started. In the planning process scope definition shall be done. Creating project plan is the important activity of planning phase. As the project plan, you need to set a budget baseline.

At the initiation phase, stakeholders has identified. Now, the roles and responsibilities of those stakeholders shall be identified and assigned.

Execution

The projects are running on the resources. The allocation and managing of project resources shall be done at the project execution phase. The building of product, process or system is the main task of this phase. Rising issues is a common in execution phase. When they are rising, we need to get actions to fix those issues.

Monitoring and Control

The forth phase in project management is monitoring and control. Effort and cost shall be tracked in this phase and project progress should be monitored. What we are doing should be adhere with plan. And also chances for disruptions should be prevented.

Completion

This is the final phase of project management and in this phase all the project deliverables shall be reviewed and handed over. All the necessary approvals shall be taken and learning from project should be documented.

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