5 stages of project management

Project Management is the process of directing and controlling the project from start to end of the process. Project Manager is a vital role in Project Management who has overall responsibilities in project till the successful completion of the project. Project Management Institutes (PMI) offers PMP Certification Course for the Project Management Professionals which helps to manage the projects in a right way and also PMP Certified is an added advantage for the Project Managers.

PHASES OF PROJECT MANAGEMENT

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

Project Initiation Phase

This is the initial and main stage of the project in which the project team selects the project and decides whether this project benefit to our organization.Before the beginning of the project, the project team decides schedule, cost, resources, and scope of the project.

Project Planning Phase

This is the second and important phase of the project, in this phase, the project team members will plan for the scope of the project, cost, time, and risk and decides what resources they need to complete the project successfully. Project Team Members has overall responsibilities in this planning phase and to take the necessary time to plan a project and they make any changes before moving to the next phase.

Project Execution Phase

This is the third important phase for the Project Leaders. In this phase Project Leader have overall responsibilities and they allot works to their team members and set an individual deadline to their task. Team Members will communicate to the Project Leader once they completed the task and execute it. Execution Phase is the major role of the project to come to know whether the project is successful or failure.

Project Monitoring & Controlling Phase

Once the Project executes successfully, then the monitoring and controlling phase have to be done. During this Phase, Project Leader will monitor the performance of team members, project budget and scheduled time will be monitored. After the project has been monitored, the Project Leader will conduct a meeting to all team members and discuss with them to control if the scheduled time and budget exceeds.

Project Closure Phase

Project Closure is the final phase of the project. After the project tasks are completed successfully and the client approves the outcome of the project. Finally, Senior Management will terminate the project.