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Project Management Essay

1136 words - 5 pages



Project Management Paper
MGT 437
November 3, 2014
Project Management Paper
Introduction
To realize what a project entails or how to manage a project an individual must first comprehend the entirety of its lifecycle. The following paper will discuss and define the contents that are involved in project management. In addition it will emphasize the importance of project management being utilized by the organization. I will also discuss and describe the phases of the project life cycle and their functions. It is important to understand the project management brings significant benefits to organizations because it helps define goals and objectives which can enlighten ...view middle of the document...

Projects aim on implementing new objectives to enrich, advance and expand business procedures for future growth. The main objective of a project is to achieve a specific goal and when met the project is complete and has successfully completed each stage of the Project Life Cycle.
Project Life Cycle
The project life cycle refers to a sequence four basic phases which are initiation, planning, executing and closing that accomplish the projects goals or objectives (Project Life Cycle, 2004). Although, each phase has their own purpose each of the phases has a significant importance towards completion of the project. A project life cycle represents the various steps and stages in the sequence needed to achieve it potential. It is essential that each stage is thoroughly planned and executed so the project manager can objectively assess completion of goals.
Project initiation starts the project life cycle and involves assembling a team headed by a project manager and providing an overview of the project (Gordon, 2014). The initiation phase entails gathering the resources that are available which will be used throughout the project life cycle. At this time the project manager must make sure that they have all the information needed to make educated decisions for the project to function correctly in the other phases. The initiation phase plays an important part in the project life cycle because this is the time that the ideas are produced and brought together before moving on to the next phase.
Planning entails charting all necessary tasks for project completion and providing realistic task completion dates (Gordon, 2014). This phase is crucial to the life cycle because it is the development phase which consists of project management, communication, and risk management. Within this phase the project manager needs to provide a strong project draft plan that is strong enough to support the project moving forward. Disasters can be avoided by having a great project plan and communication is key so the execution phase see the project plan be brought to life.
During the execution phase, the planned solution is implemented to meet the project's requirements (Gordon, 2014). The execution phase can be described as the most complicated and time consuming within the project life cycle. This stage in the project life cycle allows the project manager to monitor the day to day operations and ensure that the project outline is being executed correctly. This phase allows the project manager and project team to identify any issues that arise and make any changes...

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