Demystifying The 5 Phases of Project Management - Smartsheet
Demystifying The 5 Phases of Project Management - Smartsheet
Demystifying The 5 Phases of Project Management - Smartsheet
Phases of Project
Management
by Kate Eby on May 29, 2018
In This Article
At the root of any successful project is a project manager (PM) worth his
or her weight in gold. While some people think a project manager’s sole
job is to remind everyone about deadlines and set up status meeting,
that’s simply not the case.
There is a science to what they do -- they have a deep understanding of
and can perfectly execute the five phases of project management. In this
article, we’ll cover what each of these phases entail and share tips for
boosting success during each stage.
Developed by the Project Management Institute (PMI) (http://www.pmi.org/),
the five phases of project management include conception and initiation,
planning,
Take yourexecution,
projects performance/monitoring,
to the next level. See how andSmartsheet
project close.
canPMI,
which
help. began in 1969, is the world’s largest nonprofit membership
association for the project management profession. It has set the
standards for project, program, and portfolio management and offers
training and certifications. The gold standard of certification from the
association is the Project Management Professional (PMP)®
certification. There are seven other certifications available for different
types of project management.
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the Project
Okay Management Book of Knowledge (PMBOK® Guide)
(http://www.pmi.org/PMBOK-Guide-and-Standards/pmbok-guide.aspx) Currently in its
fifth edition, the PMBOK® Guide is continually being updated by the PMI
and shares the fundamental practices that are used worldwide to achieve
the best results. The PMBOK® Guide includes a process standard that
can be applied to many projects; however, it does recognize that each
project is different. It is up to PMPs to apply the techniques and phases
covered in the PMBOK® Guide to the unique requirements of their project.
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help.
Phase 1: Project Initiation
This is the start of the project, and the goal of this phase is to define the
project at a broad level. This phase usually begins with a business case.
This is when you will research whether the project is feasible and if it
should be undertaken. If feasibility testing needs to be done, this is the
stage of the project in which that will be completed.
Important stakeholders will do their due diligence to help decide if the
project is a “go.” If it is given the green light, you will need to create a
project charter or a project initiation document (PID) that outlines the
purpose and requirements of the project. It should include business
needs, stakeholders, and the business case. Note: There are plenty of PID
templates that adhere to PMBOK® Guide guidelines available online that
you can download to help you get started.
Tip: When creating a PID, don’t get too bogged down in technical
requirements. Those will be clari ed and clearly de ned in Phase 2.
S.M.A.R.T. Goals – This method helps ensure that the goals have been
thoroughly vetted. It also provides a way to clearly understand the
implications of the goal-setting process.
Specific – To set specific goals, answer the following questions: who,
what, where, when, which, and why.
Measurable – Create criteria that you can use to measure the success of
a goal.
Attainable – Identify the most important goals and what it will take to
achieve them.
Realistic – You should be willing and able to work toward a particular
goal.
Timely – Create a timeframe to achieve the goal.
For more information about S.M.A.R.T. goals and to download free
S.M.A.R.T. goal templates, read "The Essential Guide to Writing S.M.A.R.T.
Goals (https://www.smartsheet.com/blog/essential-guide-writing-smart-goals)."
C.L.E.A.R. Goals – A newer method for setting goals that takes into
consideration the environment of today’s fast-paced businesses.
Collaborative – The goal should encourage employees to work together.
Limited – They should be limited in scope and time to keep it
manageable.
Emotional – Goals should tap into the passion of employees and be
something they can form an emotional connection to. This can optimize
the quality of work.
Appreciable – Break larger goals into smaller tasks that can be quickly
achieved.
Refinable – As new situations arise, be flexible and refine goals as
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needed.
help.
During this phase, the scope of the project is defined and a project
management plan is developed. It involves identifying the cost, quality,
available resources, and a realistic timetable. The project plans also
includes establishing baselines or performance measures. These are
generated using the scope, schedule and cost of a project. A baseline is
essential to determine if a project is on track.
At this time, roles and responsibilities are clearly defined, so everyone
involved knows what they are accountable for. Here are some of the
documents a PM will create during this phase to ensure the project will
stay on track:
Scope Statement – A document that clearly defines the business need,
benefits of the project, objectives, deliverables, and key milestones. A
scope statement may change during the project, but it shouldn’t be done
without the approval of the project manager and the sponsor.
Gantt Chart – A visual timeline that you can use to plan out tasks and
visualize your project timeline.
Tip: When creating a WBS, work packages shouldn’t be longer than 10 days.
Be sure to solicit the input and perspective from team members about their
speci c tasks.
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Phase 3: Project Execution
This is the phase where deliverables are developed and completed. This
often feels like the meat of the project since a lot is happening during this
time, like status reports and meetings, development updates, and
performance reports. A “kick-off” meeting usually marks the start of the
Project Execution phase where the teams involved are informed of their
responsibilities.
Tasks completed during the Execution Phase include:
Develop team
Assign resources
Status meetings
Effort and Cost Tracking: PMs will account for the effort and cost of
resources to see if the budget is on track. This type of tracking informs if a
project will meet its completion date based on current performance.
During this time, PMs may need to adjust schedules and resources to
ensure the project is on track
Tip: Review the business case at the end of each phase and make
adjustments to the project plan as needed.
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