Projects by nature, whether small or large, have a starting point and ending point. While the inception and closure aspects of projects are typically straight forward, there are additional phases that are noteworthy and should be considered as part of project delivery. These phases collectively comprise what is termed the “project life cycle” which is a snapshot of the various areas that must be addressed from the very beginning up through the termination point of a project in most traditional approaches including waterfall methodology (Agile and other methodologies may not follow this lifecycle). In general, these phases are tackled in a sequential manner. Understanding the different phases of the project life cycle, along with what is involved in each, is essential for helping Project Managers ensure an organized approach can be established for completing tasks as well as confirming a more manageable workload/workflow structure is in place as needed to successfully achieve defined project goals.
Below, we discuss the 5 phases of project management in further detail and identify key items or deliverables that are associated with each of these phases.
- Initiation
The initiation phase of a project is its starting point where opportunities are identified to address a specific problem or achieve specific goals. There may be several options available for addressing such problems but ultimately, the option or opportunity selected usually becomes the foundational component that sparks the need for a project. Before kicking off a project or jumping too far ahead, be sure you have reviewed both the feasibility and benefits/return on investment associated with options under consideration. This is where a business case comes in to provide key stakeholders with the information needed to justify why initiatives should be pursued. Market Business News defines a business case as “a written document or verbal presentation which contains the reasons for initiating a task or project” and “should contain details on costs, risks, as well as pros and cons.” Appropriate vetting and presentation of these details are key factors needed to confirm the decision to proceed with or seek alternatives for a requested project.
Upon completion of the fun stuff (review of the business case and executive approval of a project), we now work to create a project charter. This document portrays project goals or objectives (what will be delivered), key resources needed, the high-level time frame and costs associated with achieving objectives, and constraints or known limitations that have been identified. This information will help you as the Project Manager further determine participants or other stakeholders to be involved in the project, and these resources are then added to the stakeholder register document for tracking purposes.
- Planning
Now that we know what we are after and who will assist in getting us there, we move into the planning phase. This 2nd and extremely critical phase of the project lifecycle should always be given the attention it deserves, as this is the point where the details of a proposed solution are fully defined. There are multiple areas to cover in order to bring together a successful project plan. These areas may include but are not limited to the following:
- Business Requirements – documenting the “what” or future state and “why” it should be done
- Functional Requirements – “how” we will achieve goals or perform business processes
- Technical Requirements – usually more granular, with specifics regarding solution implementation and may include type of programming language, tools to use, etc.
- Project Scope – summary of work needed to complete the project (also called work scope)
- Roles & Responsibilities – who is serving in which role and what is expected
- Project Schedule – tasks and baselined time frames for completion
- Project Budget – refined and baselined
The importance of proper planning and definition of project requirements cannot be overstated. While time is of the essence and there is generally a push to get things moving, do NOT hurry through this phase! Poor planning usually results in frustration down the line and increases the risk of project failure. Once you’ve taken the time and prepared a great plan, you’re now ready to rock and roll.
- Execution
We have come to the 3rd phase of the project lifecycle and are ready to execute against the plan you’ve crafted. Resources are to be assigned to the tasks identified during project planning as needed to build the solution or achieve project objectives for your customer. After task assignments are complete, the actual work or solution development can begin. Henceforth, it is imperative that Project Managers remain engaged with resources and the status of their deliverables while creating an environment that fosters team collaboration and efficiencies in workflow. This can be achieved by establishing a routine cadence or status calls with your project team if not already in place from the planning phase. Additionally, be sure to document, communicate, and properly manage risks and issues as they surface.
Once the solution has been developed, quality assurance and user acceptance testing should be completed with the appropriate stakeholders to ensure the outcome meets previously defined expectations prior to launch (also called go-live). Note that modifications to the solution, along with iterations of testing and validation, may be required based on feedback received from end users. However, be vigilant in managing the agreed-upon scope of work to avoid scope creep which can cause delays or budget overrun. Any change from the current plan or scope of work should be evaluated (impact assessment) and run through the appropriate change control channels to ensure all stakeholders are aware…and this is a great segue to our next section so, here we go!
- Monitoring & Controlling
Here in the 4th phase of the project lifecycle, we focus on monitoring and controlling various aspects of project execution so there is alignment between the project requirements and what is being delivered. It is important to note that this phase runs in parallel with execution (phase 3) and not separately. The main focal points for monitoring and controlling are typically centered around the triple constraint in project management:
- Cost (Budget)
- Scope (Work)
- Time (Schedule)
Most projects operate within the confines of these 3 areas, all of which have a resulting effect on quality of the outcome delivered. According to Clarizen, a collaboration platform recently acquired by Planview (2021), “the triple constraint model acknowledges that a major piece of the project management puzzle is about making trade-offs” and this is evidenced by outcomes of solution delivery when any of the 3 areas are modified. For example, we can scale back on the scope of work, save time and put money back in our pockets but this comes at the expense of delivering a lower-quality product. Conversely, you can increase the scope of work to deliver an immaculate product but this likely requires deeper pockets and additional resource time, perhaps warranting a (tough?) conversation with the Project Sponsor to procure additional funding; there will be trade-offs based on decisions made to increase or decrease committed output in these given areas.
In any case and after the planning phase is complete, closely monitor any requested changes to cost, schedule, or scope of work that may arise. These project change requests should be thoroughly assessed to determine impact to various areas of the project. As the Project Manager, you are responsible for obtaining and communicating this information to stakeholders in a timely manner which will enable the Project Sponsor or other project executives to confirm a decision to proceed with or avoid the requested change(s). Project change requests should be documented and submitted through the appropriate change management channels. Once approved, be sure to update your baselines for the project schedule and budget accordingly while continuing your tasks of monitoring and controlling up through go-live.
- Closing
Congratulations! After completing user acceptance testing, go-live, and obtaining sign-off from the Project Sponsor, you’re now in the last and final phase. While close to the finish line, there are a few items remaining before officially wrapping this up. At a minimum, ensure you are accounting for the following:
- Release of resources
- Transition from implementation to operational support
- Lessons learned
The resources that assisted, be they 3rd party (contractors, vendors, etc.) or internal resources, should now be complete with their work and released from their assignments for this project. Next, be sure you’ve documented what is needed for your operations team to successfully manage end-user support once the project is closed. Lastly, a great Project Manager makes it a habit to document and review lessons learned throughout the project as a means of highlighting challenges/issues that were encountered along with what was needed to resolve them. This information then becomes a valuable artifact available to others to help better address or even avoid encountering similar issues in future efforts. Once these items are completed, debrief with the appropriate stakeholders on the outcome of the initiative and formally close it out.
Understanding the project management lifecycle, along with the expected outputs from each phase, can help you better plan for activities and break down the work into more manageable parts. Be sure to familiarize yourself with the end-to-end process and give each phase the time it deserves so that you and your initiative are successful. Now…on to the next project!
At PM Imperative, we cover the latest trends in Project Management and Product Management. As PM practitioners, we understand the value the Project Managers and Product Managers bring to each organization and that’s why we focus on the most practical strategies that Project and Product Managers can implement immediately. If you found this post useful, be sure to check out our latest book: The PM Imperative – Guide for Leading & Managing Projects, People & Delivering Value. https://pmimperative.com/shop/
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