Initiation
– Project initiation is the most crucial phase in the Project life cycle, as it’s the phase in which you define your scope and hire your team.
Planning
– Once the project receives the green light, it needs a solid plan to guide the team, as well as keep them on time and on budget. A well-written project plan gives guidance for obtaining resources, acquiring financing and procuring required materials. The project plan also prepares teams for the obstacles they might encounter over the course of the project.
Communication
– Communications is about keeping everybody in the loop.The types of information you will communicate typically include project status, project scope statements and updates. Completing a complex project successfully requires good communication among team members.
Execution
– Execution is all about building deliverables that satisfy the customer. Team leaders make this happen by allocating resources and keeping team members focused on their assigned tasks.
Performance, Monitoring and control
– For a successful project, there are some best practices to implement a good project monitoring & controlling. Because monitoring and controlling activities check if there are deviations from the expected results of the project.It’s during the monitoring and control phase when you must reconcile projected performance stated in your planning documentation with your team’s actual performance. Should you identify any areas where things don’t match up, take time immediately to make adjustments.Keep in mind that you will get the best out of your team if you do not just monitor the process, but if you also make sure to manage and coach your people.
Closure
– The closing phase of project management is the final phase of the project lifecycle. This is the stage where all deliverables are finalized and formally transferred, and all documentation is signed off, approved, and archived.However, without a formal closing process, you risk letting crucial details fall through the cracks, which can result in confusion, a never-ending project, dissatisfied clients, and even liability issues.
