Project management is an extensive network of roles and events involving constant supervision and administration. This lengthy cycle is divided into several phases to organize and simplify efforts into several logical and manageable steps. The entire project management life cycle is structured in all these steps together.
Project Management Courses help a person to develop his or her expertise in setting a goal and completing it in a professional environment. Aproject management candidate learns how to organize and manage business projects.
Recognized and demanded by organizations all over the world, PMP confirms its skills to act as a project manager, project leaders, and team managers.
A Project Management Institute (PMP) is a recognized global qualification for Project Management to ensure managers are eligible to conduct programs, and it offers the PMP (Project Management Professional) credentials.
The qualification of PMP is a regional award of the Project Management Certification. Certification can be attained by enrolling in a Project Management Course to get the fundamentals cleared. Project managers are helped to adopt appropriate project management methods based on reasonable global standards.
The Life Cycle of Project Management consists of four primary phases described below:
It is imperative to have a comprehensive understanding of each of these stages to achieve a productive project as a project manager.Take a look at each stage and explore the comprehensive process network in the project management system.
Ends up costing of PMP certification Two forms of costs are included in the PMP study. The first is a fixed rate, and the second is a variable price of training and preparation, which depends mainly on your selected training institute.
Activation stage of the life cycle project management:
First, you must define a business need, question, opportunity, and innovate so your team can accommodate, solve, or capture this. In this phase, you identify a project goal, decide whether the project is feasible, and identify the significant project outputs.
Moira Alexander advocates a mental shift from being a project “manager” to becoming a “leader” instead of waiting to be determined by the project strategy for you:
The project management lifecycle initiation phase generally includes the following steps:
Conduct a Test of Feasibility :
Identify the critical problem that will affect your project and how your project can fix that.
Scope Identifier :
Specify the project’s depth and width.
The deliverables to be identified :
You are defining the supply product or service.
Project stakeholder identification :
Identify the influence of the project and what its needs can be.
Company case development :
Document the goals, scope, and deliverables of a project, known as a working arrangement between the project owner and project staff. Use these parameters to assess possible cost-benefits in the project to decide whether it goes forward.
Preparing the stage of the life cycle project management:
You must step into the planning process after your project is approved based on your business case, statement of work, or project initiation paper.
Establish smaller goals within the larger project, ensuring that everything can be accomplished over time. Smaller targets should have excellent success potential.
In theory, you, therefore, need to take the following steps to conclude the project management lifecycle planning phase successfully:
Development of a project plan :
Identify the project’s timeline, including project phases, the tasks to be carried out, and possible restrictions.
Documents to build workflow :
To make sure team members understand their role clearly in a project, visualize your processes by using swimlanes.
Researchers estimate of the budget:
To decide how much the project will budget to guarantee maximum returns on investments, using cost estimates.
Resources collection :
Develop the internal and external talent pools working for the team while ensuring everybody can do his or her job with the appropriate resources (software, hardware, etc.).
Designed risks and future quality obstacles:
Identify the problems that may hinder the project’s progress and maintain the consistency and timetable of the project.
Bring the team into the project and plan it so that they can get to work quickly.
Running stage of the life cycle project management :
It is a comprehensive phase in which your plan is implemented. The final deliverable beginning takes shape during this process and is eventually passed to the customers. The principal objective of the phase is to keep the work on the track, to organize the team, and not to undermine the progress.
The implementation phase consists of the following steps: the project management cycle:
Tasks and Workflows Organization :
Enable the correct team members to delegate granular aspects of the tasks so as not to overwork team members.
Members of the Task Briefing Team:
Explain tasks and instructions on how to accomplish the tasks to team members and coordinate preparation. Process related.
Team & Stakeholders Communication :
Provide project stakeholders updates at every stage.
Job efficiency surveillance :
Make sure team members achieve their time and efficiency goals for their assignments.
Budgetary follow-up :
Track the project ‘s budget and control its capital and properties.
The project’s implementation would be much simpler if you have an adequately recorded method already in place.There are many visual tools to verify which deliverability has been finalized following the project management methodology you follow. To learn more, click on the chart platforms of Kanban and Gantt below.
You enter the closure process after the team has finished work on a project. In the closing stage, you have final reports, reveal project resources, and assess the project’s progress. Just because the major project work has ended, this does not mean that the task of the project manager has been performed important things remain, including an assessment of what worked and did not.
Projection stage of the life cycle project management :
The main emphasis should be on releasing and delivering the final product during the project closure phase. You should publish your money, finalize the documents, and officially close the project once the product has been given to the customers.
Below are the detailed steps covered by the project management life cycle during the closing stage:
Performance analysis of the project :
Determine if the targets of the project (tasks completed, on schedule, and the budget) have been achieved and if the initial question was solved with the checklist.
Performance analysis team :
Assess how the team leaders have accomplished their goals and how timely and highly trained they have done.
Plan Termination Documentation :
Ensure that the project completes all aspects without losing ends and provides key stakeholders with reports.
Post-implementation reviews are carried out :
Perform an overall project review, taking into account the lessons learned in preparation for specific projects.
Used & Unused Budget Accountability :
Develop resource allocations for future projects.