The 4 Phases of the Project Management Life Cycle

Whether you’re working on a tiny project with modest company goals or a huge, multi-departpsychological initiative with sweeping corpoprice ramifications, an understanding of the project administration life cycle is vital. 

Discover the four phases of the task management life cycle to save your job arranged and also on track from initation to close.

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Project management life cycle overview

The task administration life cycle defines high-level procedures for moving a effective project. For every $1 billion invested in projects by companies in the United States, $122 million was wasted because of doing not have job performance, according to Project Management Institute Research.

Wasted money and resources can be prevented via reliable task management, as 57% of uneffective jobs fail because of communication breakdown. In the phases of the task management life cycle, you come up via the idea for a job, specify its purposes, plan for its execution, and overview it to completion.

4 phases of the job monitoring life cycle

The task monitoring life cycle is commonly broken dvery own into four phases: initiation, planning, execution, and also clocertain. These phases comprise the path that takes your project from the beginning to the end.

Note: Some methodologies also include a fifth phase—regulating or monitoring—yet for our objectives, this phase is spanned under the execution and also clocertain phases.

Phases of the Project Management Life Cycle (Click on photo to modify this template)

1. Initiation

First, you need to determine a organization require, difficulty, or possibility and also brainstorm methods that your team deserve to satisfy this need, fix this difficulty, or seize this possibility. During this step, you figure out an objective for your project, determine whether the task is feasible, and recognize the major deliverables for the project.

Instead of waiting to have the project strategy decided for you, Moira Alexander proponents for a psychological switch from being a project "manager" to ending up being a task "leader":

"Project managers need to be able to offer business leaders on the intrinsic value they market to the service at a strategic level when they are at the table from the begin of strategic planning instead of after the fact decision-making. Project managers efficiency is significantly muted when offering a "fix-it" or "workaround" once high-level directional organization decisions are made without their specialization."

Clearly on, it's worth it to execute what it takes to make your voice heard early—prior to the strategy is set in stone.

Project management measures for the initiation phase

Steps for the project initiation phase may encompass the following:

Identifying deliverables: Define the product or service to provideDeveloping a business case: Use the above criteria to compare the potential expenses and benefits for the task to determine if it moves forward



2. Planning

Once the project is apverified to relocate forward based upon your organization situation, statement of work, or task initiation record, you move into the planning phase.

Throughout this phase of the project administration life cycle, you break dvery own the larger project into smaller sized jobs, build your team, and also prepare a schedule for the completion of assignments. Create smaller goals within the bigger job, making certain each is achievable withwhile frame. Smaller objectives should have a high potential for success.

Project monitoring measures for the planning phase

Steps for the job planning phase may incorporate the following:

Creating workcirculation diagrams: Visualize your processes using swimlanes to make sure team members clearly understand also their duty in a projectGathering resources: Build your sensible team from internal and also external talent pools while making certain everyone has actually the crucial devices (software application, hardware, and so on.) to complete their tasks

Get began by mapping out all process procedures and responsibilities in this workflow diagram layout.

Workcirculation Diagram With Swimlanes (Click on photo to modify this template)

3. Execution

You’ve received company approval, occurred a arrangement, and also built your team. Now it’s time to gain to work-related. The execution phase turns your setup into activity. The job manager’s task in this phase of the task management life cycle is to store job-related on track, organize team members, regulate timelines, and also make certain the work-related is done according to the original setup.

Project management measures for the execution phase

Steps for the task execution phase may include the following:

Creating tasks and also arranging workflows: Assign granular aspects of the projects to the correct team members, making sure team members are not overworkedBriefing team members on tasks: Explain work to team members, giving essential guidance on how they have to be completed, and also organizing process-related training if necessaryCommunicating with team members, clients, and top management: Provide updates to project stakeholders at all levelsMonitoring quality of work: Ensure that team members are meeting their time and also quality goals for tasksManaging budget: Monitor spending and also maintaining the project on track in regards to assets and resources

If you have a effectively documented process already in area, executing the job will be a lot less complicated.

Depfinishing on the project monitoring methodology you follow, tbelow are many type of visual devices that you deserve to use to check out which deliverables have actually been completed ensure that your task continues to be on track. Click the Kanban board and Gantt chart templates listed below to learn more.

Scrum Board Example (Click on image to modify online)
Gantt Chart Example With Progress Bar (Click on photo to modify online)

4. Closure

Once your team has actually completed work on a task, you enter the clocertain phase. In the closure phase, you provide final deliverables, release job sources, and recognize the success of the task. Just because the significant task work-related is over, that doesn’t suppose the job manager’s job is done—tright here are still essential points to do, consisting of evaluating what did and did not work-related through the task.

Project management measures for the closure phase

Steps for the project clocertain phase may include the following:

Analyzing project performance: Determine whether the project's objectives were met (work completed, on time and also on budget) and the initial trouble solved utilizing a all set checklist.Assessing team performance: Evaluate just how team members perdeveloped, consisting of whether they met their purposes along with timeliness and also top quality of workDocumenting task closure: Make sure that all elements of the task are completed through no loose ends remaining and offering reports to crucial stakeholdersConducting post-implementation reviews: Conduct a final analysis of the project, taking into account lessons learned for comparable projects in the futureAccounting for supplied and also unsupplied budget: Allocate staying resources for future projects

By continuing to be on task even though the project’s occupational is completed, you will certainly be ready to take whatever you’ve learned and also implement it for your next project.

Make certain you don't miss out on a action once completing your project.See the full process to project closure.

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Tie those loose ends

Use throughout the job life cycle

Finding the right devices can make also the many hard job much easier. With, a functional visual workarea, you have the right to document all parts of your process to make planning and execution easy. For example, you have the right to map out your procedure and also easily glance to see whether you’re on track, or you can create an business chart to define the obligations of everyone on your team.