![]() It involves creating a set of plans to help manage time, cost, quality, change, risk, and related issues. Typically, it accounts for almost half of the entire project time span.ĭuring the planning phase, the project deliverables and requirements are defined and the project schedule is created. The project planning phase consists of an in-depth overview of the project’s goals and requirements. ![]() Document the role of the stakeholder, the type of interest/influence, and the communication requirements. Typical stakeholders are sponsors, customers, board members, developers, suppliers, or partners. A stakeholder is someone who has an interest in the project, and he/she/they can influence the project (e.g., the project development process) or the outcome of the project (e.g., the system to be developed), or be affected by the project. Once the project goals are scope are identified, identify the stakeholders involved in the project. Note that the project charter does not contain any technical details, which will be collected and documented during the project planning phase. What is a project charter? Well, the project charter documents the project constraints, objectives, budget, project timeline (high level), etc. It’s where abstract ideas are converted into meaningful project goals.ĭuring the project initiation phase, you need to develop a business case and define the project, which involves defining the project’s requirements and creating a project charter. The project initiation phase is the first phase of a project life cycle. In this project management guide, we will take a closer look at these five phases. ![]() Each phase has its own goals, activities, and deliverables, making it easier to control the project and the quality of output in general.Īccording to the PMBOK Guide (Project Management Body of Knowledge) by the Project Management Institute (PMI), a project management life cycle has 5 distinct phases: The project management process is usually broken down into phases according to its life cycle, starting from Project Initiation and ending in Project Closure. What are the five stages of project management? ![]()
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