The 5 Phases of Project Management

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What issues and obstacles do you face as a mission supervisor? For a lot of, scope creep, poor communication, and process delays high the listing.

To state the apparent, mission administration could be tough. With out cautious planning and strategizing, it could actually really feel such as you’re f working blind.

So, should you’re in a mission administration place, beginning with the fundamentals is your finest wager. Right here, we’ll break down tasks into 5 phases that can assist you higher perceive what must be executed and when.

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The Project Management Lifecycle

The Five Stages of Project Management

Stage 1: Project Conception and Initiation

Stage 2: Project Planning

Stage 3: Project Execution

Stage 4: Project Monitoring & Controlling

Stage 5: Project Close

The future of project management is looking brighter than ever.

The Mission Administration Lifecycle

No matter measurement or scope, all tasks observe the same course of. In mission administration, this course of is named the lifecycle of a mission.

A mission lifecycle usually consists of 4 phases: initiation, planning, execution, and closure. Some mission managers, nevertheless, add a fifth part referred to as monitoring and controlling.

The extra step might help managers preserve the mission on observe and ensures that points are recognized and addressed promptly.

In consequence, five-phase fashions are thought of extra agile and efficient in serving to tasks succeed. In reality, the Mission Administration Institute (PMI) additionally promotes a five-phase lifecycle.

Within the subsequent part, we’ll take a better take a look at every stage within the mission administration lifecycle.

The 5 Levels of Mission Administration

Each profitable mission goes by means of the identical 5 phases: initiation, planning, execution, monitoring, and controlling.

Illustration showing the five project management phases

Stage 1: Mission Conception and Initiation

Each mission begins with conception and initiation. Throughout this part, an concept turns into a marketing strategy, full with targets, mission charters, and stakeholders.

That is additionally when mission groups come collectively—with the mission supervisor—to construct a broad roadmap for the mission.

Groups ought to deal with a number of questions at this stage, together with:

  • What’s the function of this mission?

  • What are some potential obstacles?

  • Who’re the important thing stakeholders?

  • Does it have a minimal or most finances?

  • How lengthy will this mission take?

As a part of this part, the mission sponsor (the one who requested the completion of the mission) approves the finances and timeline.

Graphic showing key takeaways in stage one of project management

Stage 2: Mission Planning

As soon as you have outlined the mission on a broader stage, it is time to nail down the small print.

Throughout this part, the mission supervisor develops an in depth plan for executing, monitoring, and controlling the mission. This usually begins with setting targets.

When defining the targets of a mission, S.M.A.R.T. and CLEAR methodologies are the preferred.

The acronym S.M.A.R.T. stands for Particular, Measurable, Achievable, Real looking, and Well timed. Utilizing this framework ensures your targets are clearly outlined, real looking, and achievable.

Let’s take a look at an instance. A obscure aim could be, “Develop an app that streamlines order success.” Utilizing the S.M.A.R.T technique, this aim would look one thing like, “Develop an software that reduces order success time by 20%.”

The acronym C.L.E.A.R. stands for Collaborative, Restricted, Emotional, Acceptable, and Refined.

On this methodology, the mission group works in the direction of a aim that’s particular and achievable inside the mission deadline and finances. Everybody needs to be keen about attaining it, and it ought to relate to the general mission aims.

The plan must also embody milestones and deliverables so that everybody is aware of what must be executed, who handles what, and when milestones have to be accomplished. It additionally features a breakdown of duties, a timeline, a communication plan, a threat mitigation technique, and a plan to take care of worst-case eventualities.

There are a number of ideologies you’ll be able to make use of to plan for this stage. Through the use of agile mission administration, improvement assets are successfully used, and shopper wants are met.

In addition to maintaining everybody up-to-date on progress, it permits for fast and straightforward modifications to be made. Agile mission administration makes it attainable to handle software program improvement tasks extra successfully and effectively.

Graphic showing key takeaways in stage two of project management

Stage 3: Mission Execution

As quickly because the planning part is full, it is time to begin implementing the plan. It is right here that the precise work will get executed.

Throughout this stage, mission managers set up workflows, assign duties to group members, and be certain that everyone seems to be on observe. In addition they preserve stakeholders and groups within the loop because the mission progresses.

With so many particulars to juggle, many mission managers leverage collaboration instruments like Asana, Trello, and HubSpot’s Project Management Software to trace duties, timelines, and budgets in a single central location.

Screenshot of HubSpot's Project Management Software

A well-designed mission administration instrument will preserve you on observe and provide help to accomplish your targets. For an inventory of the perfect mission administration software program, take a look at this helpful guide.

Graphic showing key takeaways in stage three of project management

Stage 4: Mission Monitoring & Controlling

Stage 4 often runs concurrently with Stage three. In any case, to be able to monitor a mission, it must be working within the first place.

Throughout this part, the mission supervisor works with their group to resolve any points. This includes periodic evaluations and updates of the plan to replicate modifications within the scope of the mission or within the availability of assets.

It is also essential to observe progress towards the plan and take corrective motion when needed. As an example, it could be essential to revise the timeline to accommodate for surprising delays or modifications.

On high of that, mission managers can monitor progress towards key efficiency indicators (KPIs) or essential success components (CSFs). As an example, you’ll be able to measure in case your mission is on schedule and finances or if particular duties are being accomplished.

Graphic showing key takeaways in stage four of project management

Stage 5: Mission Shut

That is the final part of the mission administration lifecycle. That is once you hand over the deliverables to the mission sponsor for approval. Throughout this part, the group disbands and any contractual hires for the mission will probably be terminated.

After closure, the mission supervisor conducts a remaining evaluate that paperwork the teachings discovered from the mission, in addition to any needed information that may be helpful sooner or later.

Workforce members and stakeholders additionally talk about failures and successes throughout the presentation of the report. This helps to enhance efficiency and productiveness throughout the group.

Graphic showing key takeaways in stage five of project management

The way forward for mission administration is trying brighter than ever

Historically, mission administration was executed with pen and paper or, at finest, a spreadsheet. Due to the complexity of tasks and the dispersion of the workforce, these strategies have turn into ineffective.

Preserving observe of progress and assembly deadlines requires a digital-first method. HubSpot’s mission administration software program is one instrument that may positively assist with mission administration.

With this software program, groups can streamline their workflows, observe their progress, share paperwork, and handle their duties.

On high of that, the HubSpot CRM platform allows you to simply combine it along with your different gross sales and advertising instruments. This makes it simple to maintain observe of progress and ensures that everybody is on the identical web page.

Moreover, the software program offers customers with real-time insights into their workflows, enabling them to determine bottlenecks and modify accordingly.

So, should you’ve been searching for methods to stage up your mission administration, right here’s your probability. Seize your mission administration template beneath to maintain observe of your group’s progress and streamline your workflows to extend effectivity.

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