5 stages of the project management life cycle that you should know (2023)

Project Management Knowledge organizes project phases according to their life cycle, starting with project initiation and ending with project completion. The Project Management Institute (PMI) created the 5-phase model described inPMBOK guide.

Each phase of the project management lifecycle consists of one or more specific project objectives and defines outcomes, deliverables, processes, and milestones. Project lifecycle stage management provides the project team with a common vocabulary for communicating project progress, resulting in better organizational control over the projects they work on.

table of contents

• What are the 5 phases of project management?
  • project initiation phase
  • project planning phase
  • project implementation phase
  • project completion phase
• Why are project phases important?
• Recommended project management software

What are the 5 phases of project management?

A project phase is a collection of related project management activities. The relationship of phases in the project lifecycle is generally sequential, with each project phase culminating in the completion of one or more phases.design services.

The five phases of project management are:

1. project initiation
2. project planning
3. execution project
4. Project monitoring and control
5. Completion of the project

Each phase of the project lifecycle has a specific focus that is different from other phases.

This is theProject management skills, the tasks, processes, stakeholders and organizations involved for each of the project phases would be different. Still, iterating processes across all Process Groups is a great way to add some level of control at each stage.

Keep reading: 14 Key Questions Project Managers Should Ask Their Team

project initiation phase

A team's performance during the project initiation phase may result in the approval, delay or cancellation of a new project.

The main objective of the inception phase is to ensure that the project meets the business needs and that the project's stakeholders and teams are aligned with the project's success criteria throughout the project's lifecycle.

To achieve the project's objective, it is best to involve internal and external stakeholders from an early stage. This allows you to effectively align expectations and increase the likelihood that all deliverables will be completed throughout the project management lifecycle.

During the inception phase, the entire project team defines the project idea and the project sponsor evaluates and approves the continuation of the project. The project manager starts the documentation process, which includes justification, deliverables, risks, estimated costs, and required resources.

Heproject charterit is an important output from the inception phase of the project and contains all this information. It is the first formal definition of the project. It authorizes the project to exist, establishes the project manager's powers, and documents overall requirements, project milestones, and success criteria.

Another important document in the initiation phase is the register of interested parties. This document contains information about everyone involved in the project. Identifies the people, groups, and organizations that have an interest in the task, the project, and its outcomes.

Approval of the project order signals the project's progress to the next phase, the project planning phase.

project planning phase

Once expectations and success criteria are clear, the next phase of the project management lifecycle focuses on planning each task the team must perform to meet scope, achieve deliverables, and achieve the overall goal. .

In the project planning phase, project team members dive into specific requirements, tasks, timelines, and actions. The project manager works with the entire team to create the design, list tasks, and estimate the budget.

The project team creates the resource plan, communication plan, and initial project schedule. The project manager also establishes the roles and responsibilities of the team and stakeholders. Project scope will be determined based on approved available resources and client priorities.

During the planning phase, the project team finalizes theproject structure plan,Project Plan, list of requirements,communication management plan, and other relevant documents to refine the workflow and coordination with the involved parties.

The project plan is a key deliverable and includes a detailed work breakdown structure (WBS) or task list with start and finish dates and estimated effort and duration. Identifies milestones, resources, and timeline. It also includes task dependencies that allow the project team to use the critical path method if desired.

Other key deliverables are the communication management plan, which facilitates effective communication with stakeholders, and the resource allocation plan, which schedules the project team's resources in terms of their availability throughout the life cycle. do project.

Something PMs should keep in mind: As you discover more information, you may need to adjust your previous project plan and associated procedures. More complex projects require more round-trip approvals for each task created.

Project planning is an iterative process, so the project manager should review, revise, and double-check all plans at least once a month until the project is complete. It is crucial that the project team also involve relevant stakeholders at this stage of the project lifecycle.

project implementation phase

In the project execution phase, the project team performs tasks based on the project plan. At this stage, the team spends most of its time coordinating people, helping to ensure quality work, tracking resources, and updating stakeholders.

Sometimes called the implementation phase, this is the phase where the project manager tries to manage all tasks and aspects of project delivery to keep the project on track for the remainder of the project lifecycle.

The project team is focused on achieving all the objectives established in the previous phases. At this stage, the project manager is likely to use project management software to assign each task to team members. Tools that centralize task information along with resource availability and team communication can simplify and streamline necessary project management processes.

Quality control documentation, meeting minutes, and work orders are some of the documents created during the execution phase of the project management lifecycle.

You are also likely to discover new information that will require reexamining and updating the original plans for project direction. Be alert to change requests and ensure necessary adjustments are managed.

Project monitoring and control phase

The best way to ensure progress and improvement is to track and review project performance.

At the same time, during execution, the project team carefully follows the progress of the project based on the previously prepared project plan. Tracking project performance using multiple metrics is crucial to ensuring the project stays on schedule, on budget, and on track.

The project team keeps track of change management documents, expense records, quality control checklists, and team time tracking. You will be able to measure where effort and resources are going during the project lifecycle and compare it to the project plan.

Both the execution phase and the monitoring and control phase are critical moments that can determine the success of the project. In addition to monitoring the progress of tasks, the project manager also tries to identify issues or risks, creates a mitigation plan with the team, and regularly reports to stakeholders on the status of the project.

Carefully recording and measuring project progress puts the project team in a strategic position. You can identify bottlenecks and initiate discussions or important improvements in the project management process.

A proactive approach allows the project team to react quickly to any changes to the plan. Consistent and appropriate status reports will update stakeholders and give them the opportunity to intervene or re-direct the project as needed.

If additional planning, time, or resources are required, you need to communicate these to relevant project stakeholders before it's too late. You also have the data and results to back up your claims, giving you a better chance of justifying them and maintaining your confidence despite the circumstances.

project completion phase

In the last phase of the project management lifecycle, all activities related to project completion are completed. This may include submitting a final deliverable, fulfilling contractual obligations, terminating relevant agreements and releasing project resources.

Reasons for terminating a project can be completion, cancellation, termination, or transfer to a new organization. The documentation required to complete project closure differs depending on the situation.

In this phase, the project manager communicates the final disposition and status of the project to all interested parties. This phase also ensures that stakeholders and stakeholders are informed about follow-up activities or the subsequent product lifecycle so that they can communicate and coordinate with those responsible.

However, regardless of the outcome of the project lifecycle, it would be good for the team to do a project retrospective. During this post mortem activity, the project team can process new knowledge and ensure that current project management processes are improved for a future project.

During project completion, documents to be delivered may include various project documents, final meeting minutes, and other final reports. These documents can identify and capture lessons learned and best practices for future reference and reuse.

It's a good idea to organize and store your project materials in a shared team folder. These materials can be used as a reference when evaluating performance. The ability to continually test, improve, or reinvent management methods throughout the project lifecycle can help an organization and its business grow.

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Why are project phases important?

All projects, regardless of size, go through each of the five phases.

Officially deciding the phase of a project is a great way to direct the team's focus, allocate resources, and align the entire project lifecycle with customers and stakeholders.

By thinking in phases, the project team ensures that the results produced at the end of each phase match the project objectives. Managing a project in phases also ensures that the team is properly prepared for the next phase.

Project lifecycle stages provide additional benefits. The approach provides a structured approach to project delivery. Defined activities, deliverables, and responsibilities create a clear, shared roadmap for the project team.

Defined phases and defined roles show a visible structure that all team members and stakeholders can easily understand. Assigning responsibilities by phase clarifies what the team just needs to do in each phase and helps streamline communication.

Working on projects in phases helps you track and link progress directly to each phase. Completion of each phase is easily recognized by all parties involved.

Another advantage of project management in phases is the progressive development of the project. This helps identify areas that need more attention at a given stage. It also clearly highlights points and opportunities for structured reviews to support project governance.

While the PMBOK recommends assigning project stages according to the project lifecycle, project teams can follow their own system based on industry, company policies, and other relevant factors. For example, teams and organizations that focus on monitoring resource utilization can use the critical chain project management methodology.

Keep reading: Top 10 reasons why projects fail

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Recommended project management software

Integrating project phase planning into project plans is easy when you work with the right software. If you want to know more about the bestproject management software, the editors of Project-Management.com actively recommend the following: