There are many steps to the successful completion of any project as it involves proper planning, execution, efficient tracking and monitoring throughout its life. Moreover, there is a need to ensure that the requirements of both the stakeholders and clients are met. Show Irrespective of the type of the project, it is essential to understand what project management life cycle is and what the phases and the process groups are involved. This theoretical knowledge and some practical experience in the project management life cycle will help you keep the projects more organized and streamlined until they are completed, and the pre-defined objective is achieved. What is project management, Put in simple terms, project management life cycle is a step-by-step framework of best practices. These steps help in guiding a project from the beginning till the end and provide a structured framework for managers to create, execute, and finish them. There are four phases in a project management life cycle –
In some instances, there could also be a fifth phase between execution and closure called monitoring and controlling. When every step is followed in a systematic way, the likelihood of achieving the goals increases manifold. It is therefore important for all project managers to ensure that they understand every aspect of the project management life cycle. 4 Phases of Efficient Project Management Life CycleFor making any project a huge success, it is important to understand the different phases of project management life cycle and their importance. As we mentioned before, there are four phases of project management life cycle – initiation, planning, execution, monitoring and controlling. Continue reading to know about them in brief: 1. Initiation
Budget and resource allocation, the final stage of this phase involves making a statement of work and deciding on the team that would be working on the project at every stage. 2. Planning 3. Execution 4. Monitoring and Control 5. Project Closure Characteristics of Project Life CycleLet’s take a look at the characteristics of a project’s life cycle:
Understanding these characteristics is one of the most important requirements of project management. Moreover, if you are planning to advance your career in project management, it is essential to keep scouting for courses in project management which will help you gain the relevant skills for efficient project management. Project Management – In-demand Career OptionIt is advisable to start building your career in project management by signing up for one of the online project management courses. Emeritus India offers the best courses for freshers as well as professionals who wish to upskill themselves in the various aspects of project management. Explore the many online project management courses that Emeritus offers. What is the role of project manager in the project life cycle?Project managers play the lead role in planning, executing, monitoring, controlling, and closing out projects. They are accountable for the entire project scope, the project team and resources, the project budget, and the success or failure of the project.
What is the role of project management?Specific responsibilities of the project manager
managing the production of the required deliverables. planning and monitoring the project. adopting any delegation and use of project assurance roles within agreed reporting structures. preparing and maintaining project, stage and exception plans as required.
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