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The Project Management Life Cycles Essay

592 words - 3 pages

The Project Management Life Cycles

The Project Management Life Cycles
It doesn't matter what project you are preparing for, the project management life cycle can assist you and your team in narrowing the project's focus, keeping its objectives in order and finishing the project on time, on budget and with a minimum of headaches. The project management life cycle contains five steps: Initiation, Planning, Execution, Monitoring/Control and Closure. No one step is more important than the other and each step plays a crucial role in getting you started, through all the hurdles, down to the wire and across the closing line.
The five process groups are: Initiating, Planning, Executing, Monitoring & Controlling, and Closing. We'll start with Initiation;
In this first step you provide an overview of the project in addition to the strategy your planning on using in order to achieve the desired results. During the Initiation phase you’ll ...view middle of the document...

In short, the working process is defined, stake holders are identified and reporting frequency and channels explained.
Executing consists of the processes used to complete the work defined in the project plan to accomplish the project's requirements. Execution process involves coordinating people and resources, as well as integrating and performing the activities of the project in accordance with the project management plan. The deliverables are produced as outputs from the processes performed as defined in the project management plan and other frameworks that might be applicable to the type of project at hand.
Monitoring and Controlling:
Monitoring and controlling consists of those processes performed to observe project execution so that potential problems can be identified in a timely manner and corrective action can be taken, when necessary, to control the execution of the project. The key benefit is that project performance is observed and measured regularly to identify variances from the project management plan.
By the time this step, you, project manager should be tweaking the little things to ensure that the project is brought to its proper conclusion. The Closure phase is typically highlighted by a written formal project review report which contains the following elements: a formal acceptance of the final product (by the client), Weighted Critical Measurements (a match between the initial requirements laid out by the client against the final delivered product), lessons learned, project resources, and a formal project closure notification to higher management.
The Project Management Cycle saves time and keeps everyone on the team focused. Fortunately, modern technology provides a variety of tools and templates that will take you from start-to-finish, which makes the Project Management Cycle user friendly no matter what your level of management experience! Thank God!


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