Most projects have five phases:
- Initiation: Here is where you set out the project scope, the goals, the organization of the project, its business case, its constraints, who the stakeholders are, what the risks are, the project controls, the reporting framework, etc.
- Planning: This is where you build the roadmap to take you from Point A to Point B, which means creating a schedule of the tasks, deadlines and resources needed to complete everything on time.
- Execution: The project begins and the project plan is put into action.
- Monitoring & Controlling: To make sure the project is proceeding as planned, you need to set up mechanisms for monitoring progress. If the project isn’t proceeding as planned, work to control and resolve issues before they become problems.
- Closing: Projects are temporary endeavors, so they eventually come to an end and need to be formally closed. But it’s not as simple as producing deliverables, there’s paperwork to sign off on, resources to reallocate and other loose ends to tie up.
Prince Patel
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