Identify project stakeholders: The initiation phase is also a good way to identify possible project stakeholders and who the project affects.ĥ. This is discussed during the initial phase so that things are made clear for the time to come.Ĥ. Identifying deliverables: More often than not, corporate projects end with the release of a new deliverable in the form of a product or a service. Identifying scope: This step is related to defining the breadth and depth of a typical project.ģ. Undertaking a feasibility study: The feasibility study helps in identifying the primary problem behind the project and how the project will help in solving it.Ģ. Project leaders and teams take the following steps during a typical project initiation phase:ġ. Project Management Steps for the Initiation Phase It is best to cement your control over the process before the strategy and guidelines are set in stone. The initiation stage also gives project managers and leaders an opportunity to have their voices heard early in the proceedings. They also determine the major deliverables for this project and whether the project is feasible for them to undertake. During this first phase of the project life cycle, project managers and their teams figure out the reason behind their project.
Photographer: Alvaro Reyes | Source: Unsplash InitiationĮvery project is the end result of a brainchild, a session on brainstorming or the identification of a business or public need, opportunity or problem. While some methodologies also include a fifth phase for controlling and monitoring, I believe that this phase can best be covered in the execution and closure phases. These phases usually give you a path to follow from start to end. The project management life cycle is broken down into four unique phases initiation, planning, execution and closure. In this article, we take a look at the phases of the project management lifecycle and study how the lifecycle can be used for choosing the accurate methodology.įour Phases of the Project Management Life Cycle As part of the project, life cycle project managers can come up with the idea behind a project, define the goals motivating them, plan for proper execution and guide the project to effective completion.
The project life cycle and its 4 phases allow corporate and public project managers an opportunity to strategize their progress and to limit the chances of failure.
As a result of these excessive financial losses, a high majority of projects in our country fail before completion. Recent research found out that $122 million out of every $1 billion invested into projects by companies within the United States went to waste due to lack of project performance and synergy. The project life cycle works as the glue that holds all processes in the project together and fills in gaps that can lead to financial losses. Regardless of the scope, objective or size of a project, an understanding of the project life cycle is necessary for creating a path to success.
0 kommentar(er)
