PM ensures projects are completed on time, to the customer's satisfaction. This blog post explores the five essential stages of PM: initiation, planning, execution, monitoring & control, & closure.
Introduction to Project Management
PM involves planning, executing,& monitoring a project's progress. It sets objectives, designs activities, & assigns resources, ensuring projects are completed on time & within budget
What is Project Management?
The initiation phase assesses the project's value and feasibility. Experts evaluate technical and financial viability. Upon approval, a project manager is appointed
Phase 1: Project Initiation
In the planning phase, goals & objectives are mapped out. Tasks & milestones are scheduled, costs estimated, Communication channels are established for feedback.
Phase 2: Project Planning
During execution, the team performs the actual work. The project manager assigns tasks and resources, while team members deliver milestones and regularly report progress
Phase 3: Project Execution
Monitoring and control involve regular progress reviews. Deviations are corrected, and KPIs are tracked to ensure the project stays on track
Phase 4: Project Monitoring & Control
In the closure phase, all deliverables are completed & handed over. A post-project review assesses performance, & a final report documents results. Lessons learned are noted for future projects
Phase 5: Project Closure
UPPWISE project management software helps plan, track, and manage projects. It supports various methodologies, for enhanced project management.