Project Management is the handling and administration of a project during different stages of its life cycle. Project managers need to understand the different phases of the Project Management Life Cycle to ensure the project is organized adequately and therefore can be achieved with minimal disruptions.

What are the phases of the Project Management Life Cycle?

According to the Project Management Institute, there are five phases of the project management life cycle. Each phase has its own individual goals and attributes, and also contain phase-specific project deliverables which are reviewed at the end of each phase. The review of the outcomes determine whether the project is ready to move to the next phase. The phases do not always necessarily occur in chronological order – sometimes they happen simultaneously or in different steps.

The 5 phases of the Project Management Life Cycle are as follows:

1. Project Initiation
2. Project Planning
3. Project Execution
4. Project Monitoring & Control
5. Project Closure

Phases of project

1, Project Initiation Phase

The project initiation phase is a crucial phase of the project management life cycle. During this phase, it is determined whether a project is profitable and should be executed. To ascertain the need for a project, a business case document is written and outlines potential profit and the benefits the project will bring. In addition, a feasibility study is undertaken, evaluating the project’s costs, desired timeline, and overall objectives, determining whether the project should be executed.

2, Project Planning Phase

The project planning phase involves creating a comprehensive project management plan for the project team to follow and to refer to. The project management plan should include plans for the following:

• Scope – outlining the potential benefits that the project will bring, its objectives and what it will deliver
• Goals – outlining the project goals and how such goals will be achieved
• Deliverables – listing the products/services produced by the project
• Schedule – breaking down the project into specific tasks and determining the timeline for each task to achieve the overall project goal. Here, Gantt Charts can be utilized, which breaks down the project timeline into important tasks and the time which they are to be completed.
• Budget – estimating cost of each task individually and also the project as a whole
• Human Resource Plan – determining the roles of the project team as well as the employment process. A Work Breakdown Structure (WBS) can be implemented here, which clearly displays the project tasks in individual sections for different teams.
• Quality – defining quality for the project deliverables as well as outlining quality assurance and control.
• Risk – determining likely and unlikely risks and determining a strategy to mitigate such risks.
• Procurement – establishing which materials and works are necessary and organising contracts for such materials/works.
• Communication – determining how information is circulated

It is necessary to have a thorough project plan as it prepares the project team for any potential roadblocks that might be encountered.

3, Project Execution Phase

The project execution phase is the stage of the project where the team works through the project management plan to create the project deliverables. The project manager will ensure that all the processes are flowing smoothly, and will manage duties including but not limited to:

• Maintaining communication with all stakeholders,
• Managing the executed contracts,
• Supervising and reporting the progress of the project management team, and;
• Attending meetings as required.

The project execution phase will determine the project success.

4, Project Monitoring & Controlling Phase

The monitoring and control phase involves overseeing the progress of the project. This phase is implemented during the project execution phase, ensuring that the project management plan is being adhered to. It is important to keep track of the project execution phase to confirm the timeframes and schedules are being followed and any changes to the costs within the budget are being controlled. Team performance should also be kept track of, along with the quality of deliverables.

The project monitoring and controlling phase requires efficient management processes, therefore it is important to always maintain clear communication to monitor the project performance.

5, Project Closure Phase

The project closure phase is the finalisation of the project and although it is the end phase, it is equally as important as the previous four phases. It involves terminating executed contracts, covering all liabilities, and releasing all resources. A vital project management process is evaluating the project as a whole after is has been closed. Strengths and weaknesses of the project should be considered, as well as improving processes for the next project.

Understanding the five phases of the project management life cycle will help in breaking down the project as a whole so that all processes are managed effectively. As experienced developer managers, Alpha14 has the capability to manage the entire project management process for you.

For more information on our projects, experience, or joint venture and partnerships, contact projects@alpha14.com.au