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5 phases of project management

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Project is the achievement of goal by solving tasks and organization of events. Goal can be various: product creation, service provision, achievement of result.

Project is limited by the resources and time. He is demands on management during the all life cycle.

Management is a resource balancing to achievement of stated goal by the most profitable way. Planning bases on the idea, that project passes consistent stages. Different approaches allocate from 3 to 5 phases of management. Project Management Body of Knowledge notice, that quantity of stages individually and determined by the command. Consider the organization of the project by segregation it into 5 phases.

1. Initiation phase.

Initiation is the moment of incipience of project.

Phase consist of 2 parts:

    1. Decision to launch.
    2. Preparation to launch.

Technical and economic research are held, which result will show, what to expect during the launch. The participants make decision on the opportunity of realization of tasks with help resources of the company.

On the stage of initiation occurs:

  • Definition of goals and objectives
  • Appointment of a manager
  • Drafting of statute
  • Designation of participants and stakeholders. Interested participants are sponsors, customers, managers.
  • Description of project
  • Providing information of interested parties
  • Determination of expected result
  • Listed action concretize information about the project.

2. Planning phase.

Development of overall plan of management of a project.

Occurs:

  • Assessment of the time spent on operations
  • Assessment of financial costs to work
  • Choice of ways to communicate of stakeholders
  • Budget planning
  • Determination of sequence of works
  • Pondering of goals and objectives
  • Preparation of overall plan

Stage includes the creature of Wоrk Breakdown Structure. This is breakdown of the project into parts according to a specific feature (function, product, life cycle stage). The creation of the Gantt chart. This is a calendar plan in the form of a bar chart, which use to plotting schedule of works.

There is planning of risk management, which includes:

-identification and analysis of risks

-approaches to risk reduction

-planning of response to a risk.

3. Execution phase

Project implementation according to the plan.

Stage includes:

  • Organization of employee interaction
  • Ensuring an adequate level of quality of work
  • Development of team
  • Information flow between project participants

4. Monitoring and management phase

This stage occurs in parallel with the execution phase. The progress of the project is measured:

    1. The compliance of the executes work with the plan for resources and risks is checked.
    2. Determination of the degree of deviation of time, material and human resources.

Monitoring allows to react quickly to a deviation from plan or accentuate compliance with the plan. The main objective is correction of deviations from the plan during the project implementation.

5. Closing phase

The last stage of the life cycle of the project.

Includes the following tasks:

  • product delivery to the customer
  • release of resources
  • team reward
  • termination of work with contractors
  • preparation of the implementation report
  • analysis of problems and errors
  • preparation of conclusions
  • The project brought results and can be completed.

Planning and structuring of the project doesn’t allow to get confused in a lot of tasks. During the implementing of the plan it’s necessary to proceed to the next stage only after the completion of the previous one.

Thinking and consistent execution of tasks is the key to a successful project.

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