![]() In any project, a project manager spends most of the time in this step. ![]() Progress is continuously monitored and appropriate adjustments are made and recorded as variances from the original plan. It is important to maintain control and communicate as needed during implementation. At this point, the project would have been planned in detail and is ready to be executed.ĭuring the third phase, the implementation phase, the project plan is put into motion and the work of the project is performed. This is also a good time to identify all project stakeholders and establish a communication plan describing the information needed and the delivery method to be used to keep the stakeholders informed.įinally, we will want to document a quality plan, providing quality targets, assurance, and control measures, along with an acceptance plan, listing the criteria to be met to gain customer acceptance. In risk management, “high-threat” potential problems are identified along with the action that is to be taken on each high-threat potential problem, either to reduce the probability that the problem will occur or to reduce the impact on the project if it does occur. This is an excellent time to identify and try to deal with anything that might pose a threat to the successful completion of the project. Once the project team has identified the work, prepared the schedule, and estimated the costs, the three fundamental components of the planning process are complete. The budget is used to monitor and control cost expenditures during project implementation. The project manager coordinates the preparation of a project budget by providing cost estimates for the labor, equipment, and materials costs. This is also referred to as “scope management.” A project plan is created outlining the activities, tasks, dependencies, and timeframes. The project’s tasks and resource requirements are identified, along with the strategy for producing them. In this step, the team identifies all of the work to be done. The next phase, the planning phase, is where the project solution is further developed in as much detail as possible and the steps necessary to meet the project’s objective are planned. Approval is then sought by the project manager to move onto the detailed planning phase. The major deliverables and the participating work groups are identified, and the project team begins to take shape. Once the recommended solution is approved, a project is initiated to deliver the approved solution and a project manager is appointed. Issues of feasibility (“can we do the project?”) and justification (“should we do the project?”) are addressed. A feasibility study is conducted to investigate whether each option addresses the project objective and a final recommended solution is determined. An appropriate response to the need is documented in a business case with recommended solution options. Taken together, these phases represent the path a project takes from the beginning to its end and are generally referred to as the project “life cycle.”ĭuring the first of these phases, the initiation phase, the project objective or need is identified this can be a business problem or opportunity. A standard project typically has the following four major phases (each with its own agenda of tasks and issues): initiation, planning, implementation, and closure. Every project has a beginning, a middle period during which activities move the project toward completion, and an ending (either successful or unsuccessful). The project manager and project team have one shared goal: to carry out the work of the project for the purpose of meeting the project’s objectives. It has been found that following a project life cycle is critical for any services organization. Leaders in project management have conducted research to determine the best process by which to run projects. The Project Life Cycle provides a framework for managing any type of project within a business. This is the standard project life cycle most people are familiar with. The Project Life Cycle refers to the four-step process that is followed by nearly all project managers when moving through stages of project completion. A well-defined life cycle brings order and structure to the project. The project life cycle describes the stages a project goes through as it progresses from start to finish.
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