PMBOK® Guide Concept of the Project Life CycleAccording to the PMBOK® Guide, the elements of a project lifecycle should define the work the project will accomplish, the deliverables it will produce, the team members involved, and how you will control and approve each project phase. Show
Determining these elements will take a project from start to finish. These project controls provide a systematic and timely process that benefits a project’s stakeholders. This helps PMs define what needs to be accomplished before moving onto the next phase of a project. 5 Phases of Project ManagementProject management can be divided into five phases. First, stakeholders initiate the project, and then define and plan it. Next, the team executes the project and monitors its performance. Finally, once the project is completed, it must be closed out.
Phase 1: Project InitiationThe goal of project initiation is to broadly define the project. This process usually begins with a business case or project charter. If research or feasibility testing is necessary, you should complete it during this phase. Important stakeholders will do their due diligence to help decide if the project is a “go.” If it is given the green light, you will need to create a project charter or a project initiation document (PID) that provides an overview of the purpose and requirements of the project. It should provide a description of the business needs, stakeholders, and the business case. Note: There are plenty of PID templates that adhere to PMBOK® Guide guidelines available online that you can download to help you get started. Tip: When creating a PID, don’t get too bogged down in technical requirements. Those will be clarified and clearly defined in Phase 2. Phase 2: Project PlanningThe planning phase is key to successful project management and focuses on developing a roadmap for the team to follow. During the planning phase, project managers should organize their teams, set up collaborative resources, and set goals. Two of the more popular methods for setting goals are S.M.A.R.T. and CLEAR:
S.M.A.R.T. Goals – This method helps ensure that the goals have been thoroughly vetted. It also provides a way to clearly understand the implications of the goal-setting process. Specific – To set specific goals, answer the following questions: who, what, where, when, which, and why. For more information about S.M.A.R.T. goals and to download free S.M.A.R.T. goal templates, read "The Essential Guide to Writing S.M.A.R.T. Goals." C.L.E.A.R. Goals – A newer method for setting goals that takes into consideration the environment of today’s fast-paced businesses. Collaborative – The goal should encourage employees to
work together. During this phase, the scope of the project is defined and a project management plan is developed. It involves identifying the cost, quality, available resources, and a realistic timetable. The project plan also includes establishing baselines or performance measures. These are generated using the scope, schedule and cost of a project. A baseline is essential to determine if a project is on track. At this time, roles and responsibilities are clearly defined, so everyone involved knows what they are accountable for. Here are some of the documents a PM will create during this phase to ensure the project will stay on track:
To learn more about project management terms and documents, read our glossary of project management terminology. Tip: When creating a WBS, work packages shouldn’t be longer than 10 days. Be sure to solicit the input and perspective from team members about their specific tasks. Manage Your Project in Smartsheet Phase 3: Project ExecutionDuring the project execution phase, the team develops and completes deliverables. This phase begins with a kick-off meeting, is marked by the onset of status reports and updates, and transitions into performance and monitoring as the project progresses. Tasks completed during the Execution Phase include:
While the project monitoring phase has a different set of requirements, these two phases often occur simultaneously. Tip: Consider using cloud-based project management software so team members can update task status in real time. Phase 4: Project Performance and MonitoringProject performance and monitoring ensures that project results align with the management plan. Project managers use key performance indicators (KPIs) to determine if the project is on track. We’ve outlined the most common KPIs for performance tracking below:
During this time, PMs may need to adjust schedules and resources to ensure the project is on track Tip: Review the business case at the end of each phase and make adjustments to the project plan as needed. Phase 5: Project CloseOnce a project is complete, the team must formally close it. Project managers generally hold a post mortem meeting to evaluate successes and failures. Project close helps a team identify things that went well and areas for improvement. Once the project is complete, PMs still have a few tasks to complete before it is officially closed. They will need to create a project punchlist of things that didn’t get accomplished during the project and work with team members to complete them. Perform a final project budget and prepare a final project report. Finally, they will need to collect all project deliverables and documents and store them in a single place. Tip: Using a cloud-based software solution is an easy way to collect and save all project documents in one location throughout the life of the project. Smartsheet for Project ManagementEmpower your people to go above and beyond with a flexible platform designed to match the needs of your team — and adapt as those needs change. The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed. When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time. Try Smartsheet for free, today. What are the 4 phases of project management quizlet?Identify the client's need. Undertake a feasibility study. Identify the scope of work to be done. Identify deliverables.
Which of the following represents the correct order of stages within the project life cycle?The correct answer is C. The project life cycle is completed in 4 stages, which start from defining or initiating, after which, the required planning is done, and then the formulated plan is executed. Lastly, the project cycle is up for closure when all the tasks of the project are completed.
Which of the following happens during the starting phase of project management?Which of the following happens during the starting phase of project management? Establish team rules.
Which of the following are the four primary purposes of collaboration?4 purposes of collaboration. Become informed, make decisions, solve problems, manage projects.. Becoming informed. ... . Making decisions. ... . Operational decisions. ... . Managerial decisions. ... . Strategic decisions. ... . Structured decision process. ... . Unstructured decision process.. |