At the start of a project, the amount of planning and work required can seem too Much. There may be hundreds of tasks that need to be completed at right time and in right direction.
Software project managers know it is often easier to handle the details of a project. When you break the project down into phases. Dividing your efforts into these five phases can simplify them into a series of logical and manageable steps.
1. Initiation of the Project
Initiation is the first phase of the project life cycle. This is where the project’s value and feasibility are measured. Project managers typically use two evaluation tools to decide whether or not to continue a project:
- Business Case Document – This document justifies the need for the project, and it includes an estimate of potential financial benefits.
- Feasibility Study – This is an evaluation of the project’s goals, timeline and costs to determine if the project should be executed. It balances the requirements of the project with available resources to see if pursuing the project makes sense.
Teams abandon proposed projects that are labeled unprofitable and or unfeasible. However, projects that pass these two tests can be assigned to a project team or designated project office.
2. Planning of the Project
When the project receives the green light. It needs a solid plan to guide the team, as well as keep them on time and on budget. A well-written project plan gives guidance for obtaining resources, acquiring financing and procuring required materials. The project plan gives direction for producing quality outputs, handling risk and creating acceptance.
The project plan also prepares team for the hurdles they might encounter during the project. It also helps them understand the cost, scope and time frame of the project.
3. Execution of the Project
This is the phase that is most commonly associated with project management. Execution is all about building deliverables that satisfy the customer. Team leaders make this happen by allocating resources and keeping team members focused on their assigned tasks.
Execution relies heavily on the planning phase. The work and efforts of the team during the execution phase are derived from the project plan.
4. Monitoring and Control of the Project
Monitoring and control are sometimes combined with execution because they often occur at the same time. As team execute their project plan, they must constantly monitor their own progress.
To guarantee delivery of what was promised, team must monitor tasks to prevent notices from. Calculate key performance indicators and track variations from allotted cost and time. This constant caring helps to keep the project moving ahead smoothly.
5. Closure of the Project
Teams close a project when they deliver the finished project to the customer. Communicating completion to stakeholders and releasing resources to other projects. This vital step in the project life cycle allows the team to evaluate and document the project and move on the next one. Using previous project mistakes and successes to build stronger processes and more successful team.
Although breaking project into these five cycles can help your team to manage even most complex projects. And team will use time and resources more wisely.