Complex projects that are significant in scope, resource-heavy, and also are high in strategic prominence will require greater levels that project administration knowledge. Having a an easy understanding the the task life cycle and also the 5 phases of task management—initiating, planning, executing, monitoring and also controlling, and also closing—will assist project managers attain consistent and also repeatable task success.

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What is the job life cycle?

The project life cycle includes the steps compelled for project supervisors to successfully manage a project from begin to finish. There room 5 phases to the project life bicycle (also dubbed the 5 process groups)—initiating, planning, executing, monitoring/controlling, and also closing. Each of these task phases to represent a group of interrelated processes that must take place. 

The 5 process groups of project management

Initiating phase

The initiating phase of the job life cycle consists of simply two different processes: the project charter and stakeholder register. The point of this step is to determine the vision for your project, file what you hope to accomplish, and secure approvals native a sanctioning stakeholder. The key components the the job charter include:

Objectives

Resources needed

Cost estimate

Risks and also issues

Dependencies

When you take the moment to establish a clear and also cohesive vision, think with who should ideally be affiliated in bringing the job to life, and also secure the resources you’ll need up front, you provide your task a strong start that sets the phase for whatever that come next.

Planning phase

The to plan phase procedure group is wherein you build the project facilities that will enable you to accomplish your score within your predetermined time and also budget constraints, starting with a project administration plan, job scope, work break down structure and also more—and pack up through qualitative and also quantitative threat analyses and risk responses. This is your comprehensive roadmap—your blueprint for success. As soon as you with the finish of this phase of the life cycle, anyone on your team will not only understand the vision the the project, they’ll additionally understand specifically what they must do to with the end up line ~ above time and within budget.

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Executing phase

The executing step is wherein the rubber hits the road—where most of the spending plan is allocated and most of the job deliverables are produced. You take your job plan and also put it right into action, whether the takes weeks, months, or also years. Villanova University defines the score of this phase as, “managing teams properly while orchestrating timeline expectations and also reaching benchmark goals.” The executing phase often includes team development, stakeholder engagement, and also quality assurance activities, one of two people on a formal or unshened basis.

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Monitoring and controlling phase

The monitoring and controlling phase requires keeping an eye ~ above the actual development of the project against your plan and also taking corrective activity where necessary. No quantity of perfect planning will exempt girlfriend from the have to be continually vigilant with tracking and also reporting. You recognize what they say around the best-laid plans, ~ all. 

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Closing phase

The closing step is the final phase the the task life cycle consists of just one solitary process, and also it’s much more than merely checking turn off the project as done. It’s vital to formally near the project and also secure a sign-off or approval from the customer, stakeholders, and/or job sponsor. This procedure might include:

Delivering the project

Archiving task records

Celebrating or acknowledging the achievement

Officially disbanding or releasing the team

The prominence of this last step of the task life cycle can not be overstated, especially as an ext organizations are adopting the Hollywood design of work, whereby temporary teams come together approximately a particular project, and also then disband and also regroup for an additional project, much the method film crews operate. Every film manufacturing ends v a “wrap party,” and also so have to every major work project.

The complete project life cycle

Below is a chart of the finish project life cycle, including the 5 procedure groups of project management and the steps compelled in each phase throughout all expertise areas.