In order for a project to achieve its goals, technical knowlge and innovative ideas alone are not enough. It is important to correctly go through all the stages of the project cycle. Among them, the project initiation is of particular importance – the first stage of management. It is like the foundation of a house: if it is strong, the house will stand confidently. It is at the very beginning that you clearly define what you want to achieve, what tasks you will face and what the first steps will be.
Five stages of project management
Every project goes through its own path from start to finish. This path is often call the project life cycle.
The project life cycle includes several key management c level executive list stages that ensure the project develops in an organiz manner and achieves its goals. This approach helps avoid unnecessary expenses and ensures that the project meets initial expectations.
Stage 1. Initiation
At the project initiation stage, you ne to set the main goals and objectives. At this stage of the project, you form an idea of what kind of product you want to create. You ask yourself: “What result will satisfy us?” This helps to assess the possibilities what happens next? and clearly define the direction for further work.
Stage 2. Planning
During the planning period, you develop a detail plan : you calculate the project budget, plan the time frame, allocate resources for the work and organize their management. It is also important to determine how you will measure the project’s achievements. Good planning is the key to success.
Stage 3. Implementation
At this stage, you start to take action. Assign performers mobile lead and implement everything that was plann. Effective management of the team , time and resources is very important in the implementation of the project.
Stage 4. Control
In parallel with the implementation, you monitor the process. Compare the actual results with the plan. This helps to analyze the level of risks, notice and correct shortcomings in the process of work in a timely manner, and adapt to changes.
Stage 5. Completion
At the final stage, you analyze all the work. Achievements are assess, the manager shares the findings with the other participants. This is the best time to ask questions: what went well and what areas of work can be improv to get better results.