Five Phases of Project Management

Assignment Five Phases hurtle counsel Strategy November 5, 2012 Five Phases of exteriorize Management Life round vigilance is a business counselling approach that can be used by all types of businesses (and opposite giving medications) to improve their products and thus the sustainability, employing the principles of go out life cycle the five stages of contrive anxiety, which consists of, initiation, planning, execution, monitoring, and closure. Iniation PhaseThe first word form of a send is the initiation contour. During this point, a business problem or chance is identified and a business case providing various solution options is defined. at a time the recommended solution is approved, a reckon is initiated to deliver the approved solution. Terms of honorable mention atomic number 18 completed outlining the objectives, scope and structure of the new project and a project private instructor is appointed. The project manager begins recruiting a project squad and establishes a project office environment.Within the initiation phase, the business problem or opportunity is identified, a solution is defined, a project is formed and a project police squad is appointed to build and deliver the solution to the customer (Barkley, 2005). readying Phase Often the most time-consuming of the phases of project management, the visualizening phase is where you lay your project ground meet and is critical for a booming carry outation of the subsequent slaying phase (Reynolds, 2009).Additionally, in this phase throw away thinkning builds on the work done in control Initiation, fine-tune and augmenting Cost, Scope, muniment and Quality (CSSQ) and barf Plan deliverables. Usually, additional members join the trade union movement Team, and they assist the stick out Manager in further elaborating the details of the Cost, Scope, Schedule and Quality (Macek, 2010). The planning phase produces a project plan, project rent and/or project scope out lining the work to be performed. During this phase, a aggroup should prioritize the project, calculate a budget and schedule, and determine what resources are needed0 (LaBrosse, 2008).This phase is the basis for the successful execution of the subsequent Executing phase. The planning phase is also the phase where, definition of work packages, detailed planning, clarification of responsibilities, stake analysis, and interfaces are defined. Project Planning marks the completion of the Project Plan i. e. , no work is left uncovered. Execution Phase Execution. This is where the project team does the work to crate the final deliverables of the project. It is the largest part of most projects and it goes far erupt if adequate time was taken to properly plan the work of the project (Reynolds, 2009).Resources tasks are distributed and teams are informed of responsibilities. This is a good time to tally up important project related information (Project Plan Execution, 2009). During the E xecution phase, the project manager spends a considerable amount of time in communication making sure the resources (people, equipment and materials) are available to do their work and know what work needs to be completed. There is a epoch-making amount of work in this phase, as a project manager works to juggle some aspects of the project.During this phase, youll use all of your management skills to implement and manage cost and quality, risks and change, and several other factors (Reynolds, 2009). Monitoring The next phase of the Project management life cycle is monitoring. Successful Project Management Principles & Controls are summarized as three main methods continual centre on the Project Plan, constant update of the Project Plan (especially the tierce restraints, and most importantly, measure status and project progress against the Project Plan -making adjustments to get back on track, if necessary (Project Plan Execution, 2009) .Closure In Project Closeout, the Projec t Team assesses the outcome of the project, as well as the writ of execution of the Project Team and the Performing Organization. This is accomplished primarily through soliciting and evaluating feedback from Customers, Project Team members, Consumers and other stakeholders. The primary purpose of this assessment is to document lift out practices and lessons learned for use on future projects. In addition, key project metrics are also captured to enable the Performing Organization to canvas and evaluate erformance measurements across projects. Project completion is signified by accomplishments such(prenominal) as (1) all tasks finished, (2) agreed deliverables completed, (3) testing completed, and (4) training materials prepared. The project benefits should be measured and compared with the final business case. Not all the benefits of the project are immediately apparent. The results must be compared with the cost-benefit analysis along with all the other forecast benefits that t he project was planned to tolerate the organisation.Analyzes how each phase could financing the organizations business strategy. There is a dramatic modernise in the use of project management as organizations shift to provide customer driven results and systems solutions. Some implementations of project management have been successful, era others are incredible failures. A common occurrence in many organizations is too many projects universe attempted by too few people with no apparent link to strategy or organisational goals.Unfortunately, this is why the organization I currently work in is try to successfully complete the EMR, too few resources and too many projects being implemented simultaneously and most not align with the strategic plan. hump indicates that the support of upper management is critical to project success, upper management was absent as participants of the project until the decision was made to delay the go-live. In our case, Upper management did not take action to create an environment for more successful projects in their organizations.Project management must be regarded as a company-wide project management efficiency designed to benefit the wide company (Kerzner, 2005). It also includes developing a corporate culture that is base upon effective organizational behavior and creating a well-developed project management methodology, accompany by the proper supporting tools, which is vital to achieving organizational goals. Once the organization recognizes that project management is a core competency, the organization can metamorphose this competency into a sustainable competitive advantage.The ultimate purpose is for the sustainable competitive advantage to become the pathway for a strategic competency that becomes a primary drive during strategic planning activities (Kerzner, 2005. As the project management strategy matures, the business value derived from each phase increases. change magnitude value subsequent to increase proj ect portfolio leads to the alignment of project management and organizational strategy across the organization/enterprise. Keeping each phase of the project on track yields a successful project, which means managing the common chord constraints and strict management of metrics (monitoring phase).The project goals then extend throughout the team to the suppliers, contractors, and stakeholders. The five phases of project management assists the organization in creating a strategic value chain that gives companies a competitive edge. References Kerzner, H. (2005). Using the Project Management Maturity Model Strategic planning for project management (2nd ed. ). Hoboken, NJ John Wiley and Sons, Inc. LaBrosse, M. (2008). Key principles of project management. Food Management, 43(5), 27-27. Retrieved from http//search. proquest. com/docview/215900222? ccountid=32521 Macek, W. (2010). Methodologies of project management. Wspolczesna Ekonomia, 4(4), 267. Retrieved from http//search. proquest. com/docview/1115291842? accountid=32521 Project Plan Execution where you walk the walk as the Project Manager. (2009). Retrieved from universal resource locator Managerhttp//www. mastering-project-management. com/project-plan-execution. html Reynolds, D. (2009, whitethorn 13). Phases of project management Initiation. knowing Hub weblog. Retrieved from www. brighthub. com/office/project-management/articles/1672. aspx Reynolds, D. (2009, may 13).Phases of project management Planning. Bright Hub weblog. Retrieved from www. brighthub. com/office/project-management/articles/1673. aspx Reynolds, D. (2009, July 28). Phases of project management Execution. Bright Hub weblog. Retrieved from www. brighthub. com/office/project-management/articles/1674. aspx Reynolds, D. (2009, May 13). Phases of project management Monitoring. Bright Hub weblog. Retrieved from www. brighthub. com/office/project-management/articles/1675. aspx Reynolds, D. (2009, May 13). Phases of project management Closing. Bright Hub weblog.