Phases of Project Management IT Project Management

The Project Management Phases: How to Manage a Project Step by Step

Above, we identified the five stages of the project management life cycle. Now it’s time to
put that information to practical use.

In this section of the guide, we are going to break down each stage with actionable steps that
outline how to manage a project.

1. Project Initiation

This is the starting phase where the project manager must prove that the project has value
and is feasible through a series of project management documents. Here’s the most
important ones:

• Business case: A business case justifies the need for the project, project objectives and
return on investment.

• Feasibility study: A feasibility study proves that the project can be executed within a
reasonable time and cost.

• Project charter: A project charter conveys what the project is going to deliver.

• Assemble Project Team: Resources are needed to execute any project. Before a
project schedule can be made, a project team must be created. This includes creating
job descriptions, roles and responsibilities. All this information can be later put into a
team charter.

• Set Up Project Management Office (PMO): The project management office is usually
a physical space set up for the project manager and support staff. So, the
infrastructure for the project management office includes having project management
software and any equipment needed.

• Kickoff meeting agenda: This project management stage culminates in a

project kickoff meeting, where the project team and project stakeholders are brought
together to agree upon project goals and objectives, scope and timeline.

2. Project Planning

The goal of the project planning phase is the creation of the project plan, which covers how
every project management area will be managed during the project execution phase.

Here’s a quick overview of the most important components of a project plan. As you can see,
some of them are smaller action plans to manage specific areas.

• Project Schedule: The project schedule defines a timeline for the execution of tasks
and resource allocation. Project managers need to constantly monitor the project
schedule with task management and time tracking tools.

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Phases of Project Management IT Project Management

• Project Budget: A project budget is the sum of all the estimated project costs. Project
managers need to control costs so that they don’t exceed it.

• Work Breakdown Structure (WBS): A WBS is a project planning tool that allows
project managers to visualize all the activities, milestones and deliverables in their
project scope, and prioritize them.

• Scope Management Plan: Explains how your project scope will be controlled
throughout the project to avoid scope creep.

• Risk Management Plan: Contains a risk register where all potential risks are listed,
along with the risk owner and risk mitigation strategies that would be implemented
for each of them.

• Resource Management Plan: Describes how your resources will be obtained,

allocated and managed throughout the project.

• Stakeholder Management Plan: Identifies all project stakeholders, prioritizes them,

and explains the communication channels and conflict resolution strategies to be
used.

• Performance Measurement Baseline (PMB): It’s important to create a performance

measurement baseline to keep track of your project scope, budget and schedule.

Project managers often lay out their project plan using a Gantt chart software, which provides
a visual representation of the entire project schedule and project scope. Some Gantt charts
automatically identify critical path activities.

3. Project Execution

The third project management phase is project execution, which is when the tasks and
milestones outlined in the project plan are tackled to meet the project goals and objectives.

The project execution phase is when project managers need to oversee all project
management knowledge areas as their project progresses towards the monitoring and
control phase.

• Task Management: Project managers and team members need to manage their tasks.
This involves monitoring and reporting to make sure the task is being executed within
the timeframe of the planned schedule. Task lists and kanban boards are two popular
tools for task management.

• Schedule Management: Once a schedule is created, it must be monitored through the

project execution to make sure it stays on track. Proper schedule management charts
a path to keep task progress, goals, priorities and deadlines matching with the
schedule.

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Phases of Project Management IT Project Management

• Cost Management: Just as a schedule is planned, so too is the budget. But that doesn’t
mean the job is done. As anyone with a wallet knows, money has a tendency to
disappear. Project costs must be controlled to keep them within the agreed budget.

• Quality Management: Deliverables should be produced on time and within budget,

but if the quality is lacking then the project isn’t successful. Therefore, make sure
whatever success criteria and quality requirements have been set by project
stakeholders is being met.

• Change Management: Broadly, change management is a process for improving

business processes, budget allocation and operations in an organization. However,
when applied to project management, the focus is narrowed to the project itself and
controlling changes in scope during the execution phase.

• Procurement Management: Few is the project that can be done without having to
purchase, rent or contract with outside resources. This process is called procurement.
Managing relationships with vendors and suppliers is what procurement management
is all about.

• Resource Management: Resources are anything needed to get the project done. That
includes the team, supplies, equipment, materials, etc. Resource planning includes
the roles and responsibilities for the team, what they’ll need and where they’ll be
working.

• Team Collaboration: Once the execution of the project begins, the planning leads the
way, but team members need to have tools to work together so they can stay in close
communications. Team collaboration can be facilitated by team-building exercises
and tools that connect team members, whether they’re in the same office or working
remotely.

Along the way, the project manager will reallocate resources or adjust time and scope as
needed to keep the team working. In addition, they will identify and mitigate risks, deal with
problems and incorporate any changes.

4. Project Monitoring and Control

The fourth project management phase, project monitoring and control, takes place
concurrently with the execution phase of the project. It involves monitoring the progress and
performance of the project to ensure it stays on schedule and within budget. Quality
control procedures are applied to guarantee quality assurance.

Reporting is also a critical part of this project management phase. First, it allows project
managers to track progress, and second, it provides data for stakeholders during
presentations to keep them in the loop. There are many project management reports such as
project status, timesheets, workload, allocation and expense reports.

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Phases of Project Management IT Project Management

5. Project Closure

The fifth project management phase is project closure, in which the final project
deliverables are presented to the stakeholders. Once approved, resources are released,
documentation is completed and everything is signed off on.

Here are some of the main steps of this project management phase.

• Transfer Deliverables: The project is about producing a final deliverable. That marks
the end of the project execution and the beginning of the project close. Therefore,
make sure all project deliverables are identified, completed and handed off to the
proper party.

• Confirm Completion: At this stage, confirmation is needed from all stakeholders,

clients, even the project team. That means sign-offs, so there is no confusion and last-
minute change requests.

• Review Documentation: Usually, the project manager is responsible for going over all
contracts and documentation to make sure everything has been okay and signed off
on.

• Release Resources: Before a project is completed, the team, any contract workers,
rentals, etc. must be officially released. Have a process in place to notify and make
sure everyone is paid up.

• Do a Post-Mortem: A post-mortem is when the finished project is analyzed to note

what worked and what didn’t. This is a great way to repeat successes and repair
mistakes for the next project. Don’t forget to celebrate with the team! They deserve
it.

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