What are the 4 Phases of Project Management?

Every project goes through defined steps. The steps involved are captured in unique phases that the project manager has to ensure play out well. You might ask; what are the 4 phases of project management?

Project management is not a single-step process, however, understanding it in this way can simplify its phases. These phases are also known as the project management life cycle and serve to guide a project till it’s done. Knowing these stages helps to keep a project in control, manage the resources well and improve the final result.

In this article, we will explore the phases, the sub-actions that make them up, and their importance.

Let’s dive in!

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1. Initiate: Building Blocks of the Structure

The first step in each project is an idea. However, before all this can happen — the idea needs to be turned into a concrete actionable plan.

This is what the phase of initiation does. This is the one where you need to define your project. You also need to define what it will achieve and who it needs to be done for.

It is where you clarify the purpose of the project (with questions like “Why are we doing this Project?”). The initiation stage also involves the application of lessons learned from previous projects. Your initiation stage should also capture the answer to ” What do we aspire to do?” for the project.

A business case or project charter is then usually rolled out to identify the value and feasibility of such a project. Finding key stakeholders as well and creating a broader set of goals.

Approval should be given at the end of this phase when there is a more comprehensive idea of the timeline, scope and budget for the project.

Getting everyone on the same page.

The initiation phase ensures common expectations and understanding. It is similar to creating a solid foundation for a building — without good foundations, you cannot start constructing the rest of your app.

Initiation is critical because it ensures everyone involved has a shared understanding of the project’s goals and expectations. Without a solid initiation phase, a project can easily derail later on.

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2. Planning: Charting the Path

Now, you move into the planning part following the approval of your project. That is where the nitty gritty intertwines. To Put in Simple Words- This Planning is just the mapping of your project step by step and subdividing that into smaller parts roller.

Develop a work breakdown structure (WBS) that identifies all the tasks necessary to accomplish your scope. You will also build a project schedule assigning dates and tasks to the process.

The planning part also comprises anticipating the possible risks that may arise and a plan to outstrip them.

The project manager will also set up a communication plan to determine the frequency of updates shared with the team and stakeholders.

This requires quite a good deal of planning which is probably the most time-consuming phase but get this right and everything else will be nice & smooth.

3. Execution- Deliver the Project

Now, the action begins. The execution phase represents doing the work. The PjM demonstrate leadership within the project team to get all of the tasks identified during planning carried out.

During this stage, everything should be in perfect synchronization — looking over that deadlines are met and budgets and quality control remain intact.

During this process stage, it is helpful to use project tracking tools that allow the actual progress of a project to be compared with its original plan. This allows you to compare the current progress against your initial plan, helping you keep everything on schedule and adjust as needed.

It’s also important to manage stakeholder expectations throughout this phase by providing regular updates and being transparent about any issues.

In this phase, Communication holds even more importance. Progress Updates, Team Meetings and Check-ins on a regular basis to keep everyone in line.

Even if challenges or unexpected issues do arise, a good plan makes them easier to handle. The execution is where you need to be flexible and make good decisions in order to keep things up and running.

4. Closure: Wrapping Things Up

After the project tasks are all completed, then you enter in closure phase. This is the moment when you are releasing final deliverables to your client or stakeholders, and completing a project.

This phase also assesses the project as a whole — what worked, where challenges arose and how can this be leveraged further. It is also the time to finish any unfinished business, reallocate resources and dissolve contracts.

During this phase, it’s important to gather feedback from stakeholders and the project team. Were the initial objectives met? Was the project completed on time and within budget? Answering these questions helps assess the overall success of the project.

Additionally, any resources or team members that were involved in the project are reassigned, and any contracts or external engagements are closed.

Wrap-Up: What are the 4 Phases of Project Management

We have talked about the four phases of project management; initiation which involves building the blocks that form the structure, and planning which comes after the approval of your project idea. In planning, you map out your project in a step-by-step pattern. This makes it easier to handle.

Execution is the phase where you have to carry out a variety of tasks that follow a sequence. Most projects might fall out of sequence if the project manager does not lead the team as he ought to. It is important for the project manager to carefully analyze the phases, take action, and follow through with feedback that will help the success of the project. Additionally, you need to communicate and collaborate with stakeholders. The reason is that you have to keep them informed of your actions as they concern the goal of the project. You should also track the progress of the project and be ready to adjust to any change. This will help to keep the project on course.

Finally, the last phase, closure, involves delivering the completed project, assessing its outcomes, and gathering insights for future projects. By properly following each phase with a focus on detail and adaptability, project managers can significantly increase the likelihood of delivering successful results.