![]() ![]() You need the right tools to plan, organize, and track projects. While spreadsheets and post-it notes sufficed in the past, the requirement of digital project management is completely different. It gives a framework to operate, making it easier to plan and execute. Nowadays, using cloud-based project management software is a common way of storing all of the documents related to the project.ĭividing a project into multiple phases gives the project a semblance of predictability. All of the necessary data is stored in a secure place that can be accessed by project managers of that organization. The final task of this phase is to review the entire project complete a detailed report that covers every aspect. This is an effective method to ensure continuous improvement within the company to enhance the overall productivity of the team in the future. Most teams hold a reflection meeting after the completion of the project in order to contemplate their successes and failures during the project. Terminating these contracts and completing the necessary paperwork is also the responsibility of the project manager. There are times when external talent is hired specifically for the project on contract. The project closure stage indicates the end of the project after the final delivery. This is the final phase of the project management process. This tracking not only ensures that the project remains within the budget but also is important for future projects. The project monitoring and controlling phase run simultaneously with project execution, thereby ensuring that objectives and project deliverables are met.Īs a project manager, you can make sure that no one deviates from the original plan by establishing Critical Success Factors (CSF) and Key Performance Indicators (KPI).ĭuring the monitoring phase of project management, the manager is also responsible for quantitatively tracking the effort and cost during the process. ![]() In the project management process, the third and fourth phases are not sequential in nature. Phase 4: Project monitoring and controlling The only certainty would be that an electric vehicle will be developed within the given timeframe and budget. ![]() The selection of the design, capacity, and battery power of the vehicle will not be a part of the initiation phase. While a clear goal of the project is established in this phase, a project charter does not contain any technical details that happen in the planning stage.Ĭonsider the example of an automobile manufacturer assigned to develop an electric vehicle. Create a stakeholder register with the roles, designation, communication requirements, and influence. Once you have the project goals and project scope, identify key project stakeholders–the people who are to be involved in the project. The project charter is an important document consisting of details like the project constraints, goals, appointment of the project manager, budget, expected timeline, etc. In order to do that, you have to determine the need for the project and create a project charter. In this stage, you need to develop a business case and define the project on a broad level. The project initiation phase is the first stage of turning an abstract idea into a meaningful goal.
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