1. Project Initiating
Initiating: A new project is broadly defined and submitted for formal approval. This phase often begins with a business case, which outlines the objectives, purpose and deliverables of the proposed project. Stakeholders are identified and preliminary requirements are documented. Key outputs include the project charter and the stakeholder register which assist with Planning.
3. Project Execution & Controlling
Executing: The project is now ready to launch! The project manager typically uses a kick-off meeting to introduce key tasks and milestones to the team, and discuss the project in detail. The main activities associated with project execution include resource management, tracking work, team meetings and reporting on progress. The project manager should regularly assess progress to-date and adjust the original project plan as needed.
Monitoring/Controlling: Monitoring is conducted in parallel with project execution. Using KPIs and other metrics defined in the project plan, the project manager monitors progress and performance to avoid scope creep. Earned Value Management is a particularly useful tool during this phase.
4. Project Closing
Closing: Once the project is completed, run a post-mortem to document lessons learned for future projects. It is also important to recognize and celebrate success. Finally, reassign resources and update project documentation, including any collaboration sites.
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