Inside Project Management

What do you need to finish a project successfully? Below I will share essential information for you to understand the phases and processes involved in project management. The PMBOK® Guide – Sixth Edition defines the project life cycle as “the series of phases that a project passes through from its initiation to its closure” (page 19).

By Empowering Corporate Knowledge-sharing, performance and productivity increase, know-how is reduced, and decision-making process is faster. Read more on our blog post.

Phase 1: Project Initiation

It involves the skill, processes, and activities needed to define the beginning of a project adequately. It is the opportunity for the project manager to establish orders for a project by identifying who the key stakeholders are and getting, in writing, as much direction from the customer and stakeholders as possible

In this phase, you can see two processes:

  • Develop Project Charter
  • Identify Stakeholders

Phase 2: Project Planning

It involves the processes needed to define the scope of the project, set strategic plans in place to maximize workflow, and begin to assemble priority lists and plan team needs and highlight actions related to achieving objectives.

In this phase, you can see twenty-three processes:

  • Plan Scope Management
  • Collect Requirements
  • Define Scope 
  • Create WBS
  • Plan Schedule Management
  • Define Activities
  • Sequence Activities
  • Estimate Activity Durations
  • Develop Schedule 
  • Plan Cost Management
  • Estimate Costs
  • Determine Budget
  • Plan Quality Management
  • Plan Resource Management
  • Estimate Activity Resources
  • Plan Communications Management
  • Plan Risk Management
  • Identify Risks
  • Perform Qualitative Risk Analysis
  • Perform Quantitative Risk Analysis
  • Plan Risk Responses 
  • Plan Procurement Management
  • Plan Stakeholder Engagement

Phase 3: Project Execution

It involves managing teams effectively while controlling timeline expectations and reaching benchmark goals and contribute to completing work to meet project specifications.

In this phase, you can see ten processes:

  • Direct and Manage Project Work
  • Manage Project Knowledge
  • Manage Quality
  • Acquire Resources
  • Develop Team
  • Manage Team
  • Manage Communications
  • Implement Risk Responses
  • Conduct Procurements
  • Manage Stakeholder Engagement 

Phase 4: Project Monitoring

Involves the processes to ensure the project is on track to plan and budget. The Project Manager will make necessary changes to resources to ensure alignment to the plan and should define Key Performance Indicators (KPIs) to measure project performance

In this phase, you can see twelve processes:

  • Monitor and Control Project Work
  • Perform Integrated Change Control 
  • Validate Scope
  • Control Scope
  • Control Schedule
  • Control Costs
  • Control Quality
  • Control Resources 
  • Monitor Communications
  • Monitor Risks
  • Control Procurements
  • Monitor Stakeholder Engagement

Phase 5: Project Closure

It involves documenting the project as a process that begins when deliverables are released formally accepted by the client. All pertinent materials are handed over, including project documentation, manuals, and source code. All contract administration paperwork is completed, highlighted by the signed contract documents of acceptance.

In this phase, you can see one process:

  • Close Project or Phase

After knowing all the phases and processes involved in project management, I can say that we have the necessary tools to plan, execute, control, and close a project successfully and keep under control the deviations that may occur and be able to act on time at the right moment. It is essential to know that not all processes are mandatory; you choose what is necessary for the success of your project.

By Empowering Corporate Knowledge-sharing, performance and productivity increase, know-how is reduced, and decision-making process is faster. Read more on our blog post.

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