There are five definitive processes that project management professionals use to cover the project lifecycle.
These are known as the five phases of project management that organize and describe the project’s work in detail.
Each phase provides an essential step to the project’s development, with all stages interrelated.
Each of the 5 phases of project management uses varying processes that help develop and move the project forward. Managers must move from each phase in order, covering all processes, until the project is either completed or canceled.
Phase 1: Projection Initiation
- Create the Project Charter
- Determine Stakeholders
- Complete Business Case
Phase 2: Project Planning
- Create Project Management Plan
- Define Budget and Scope
- Identify Risk
- Construct Work Breakdown Structure
Phase 3: Project Execution
- Allocate Project Resources
- Schedule Project Tasks
- Continue Project Status Updates
Phase 4: Project Control
- Monitor Progression
- Measure Key Performance Indicators
- Revisit Project Management Plan
Phase 5: Project Close
- Record Project Processes and Findings
- Handover Deliverables
- Document and Review Data
Do you want to grow your career in project management through real project experience, mentorship and employment support? Speedy Mentors is here to help you achieve that goal with our expert project management employment assistance program, flexible study options, 12 months of interest-free finance, and a first- class recruitment support team.