Specifications of the Different Phases of Project Management in the Project Life Cycle
The
job of project management is though simple and high-weighted yet it is not so
simple in terms of its roles and responsibilities. The role of project
management describes the science of deep understanding for executing its five
phases. The five phases of the science of project management has been
formulated by the Project Management Institute that facilitates in segmenting
the complete and complex project into five simpler phases that makes convenient
to execute the entire project by the team and even the project manager. These
five phases control the each and every stages of the project precisely and with
accuracy.
What Significance lies in the 5
Phases of Project Management? The
activity of Project Management mainly concentrates on a big and complex project
which becomes difficult to control and execute with less errors as a single
unit. For this reason, the science of project management is responsible for segmenting
the execution of the entire project into five different phases which includes
initiation and conception, planning of the project, execution, performance or
monitoring, and project closure. While formulating these phases of project
management PMI i.e. Project Management Institute has set the necessary
standards for the program, project, and portfolio management and also offers corresponding
training and certifications. As per the set standards, from the association of
PMI, the Project Management Professional Certification is the gold standard of
certification. Guide to the Concept of Project
Management The
practices and information of the concept of Project Management has been
standardized through a book of Project Management that has been created and
updated by the PMI members. This book consists of the fundamental practices of
Project Management that are used ad practiced throughout the world for
achieving the best results. It includes the process standards thus detailing
about the every phases of project management of the project life cycle. But there are provisions for tailoring the
different phases as per the need of the project. Thus
it is quite definite that the elements of a project life cycle should define
the factors like what are the deliverables of the project that must be
generated and reviewed, what kind of work or what is the goal that can be
accomplished through the several phases of the project, who would be
responsible or involved for executing the project management phases, and even
what should be the ways for controlling and approving each phase. All these
mentioned phases of the project management are systematic, controlled, and
schedule oriented. A stipulated deadline needs to be set for generating the
result of each phase. It is ensured that this process benefits the stakeholders
of the projects. How Does a Project Lifecycle
Controlled through 5 Phases? The
discussed five phases of the Project Management is responsible in controlling,
executing, and managing the entire project lifecycle through project initiation
by formulating the project scope and budgeting through several calculated
techniques like Work breakdown schedule, Gantt Chart, Risk management, and
Communication plan. Apart from this, the execution and the progress of the
project also need to be tracked through Key Performance Index, forecasts, and
quality. On setting the objective of the project, the effort, cost, and the
quality deliverables also need to be tracked along with the performance. At the
closure of the project, it needs post mortem and the entire reporting. These
mentioned tips are mainly utilized by the beginners in the course of Project
Management for homework and assignment help. But for acquiring further knowledge regarding the subject of Project
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