“Let our advance worrying become advance thinking and planning.”
By Winston Churchill.
The life cycle of every project is structured around five phases: initiation, planning, execution, follow-up and closure.
In brief, these are the 5 main stages:
The start-up phase is crucial in the life cycle of the project, since it is time to define the scope and proceed with the selection of the team and objectives. Only with a clearly defined scope and a specialized team, success can be guaranteed. It is also the time to share your vision with stakeholders and seek their commitment and support.
This is often the most difficult phase for a project manager, since he has to make a significant effort of abstraction to calculate the needs of personnel, resources and equipment that will have to be foreseen to achieve the achievement on time and within the parameters foreseen. Likewise, it is also necessary to plan communications, contracts and procurement activities. In short, it is about creating a complete set of project plans that establish a clear roadmap.
Based on the planning, it will be necessary to complete the programmed activities, with their tasks, and proceed to the delivery of the intermediate products. It is important to ensure good communication at this stage to ensure greater control over progress and deadlines. Besides, it is essential to monitor the evolution of the consumption of resources, budget and time, for which it is usually necessary to rely on a project management tool. In this stage you must manage: the risk, the change, the events, the expenses, the resources, the time and the updates and modifications.
Monitoring and control
This phase includes the processes necessary to carry out the monitoring, review and monitoring of the project progress. It is conceived as the means of detecting deviations as quickly as possible, in order to identify the areas in which a change in planning may be required. The monitoring and control stage is naturally associated with the execution stage, from which it can not be conceived separately, although due to its importance and critical value.
This phase includes all processes aimed at formally completing the project and the inherent contractual obligations. Once this stage is finished, it is formally established that the project has been completed.