Project Management Lifecycle

Proejct Management Flow |Initiating|Planning|Executing|Monitoring and Controlling|Closing| |---|---|---|---|---| ||Integration|||| ||Scope|||| ||Schedule|||| ||Cost|||| ||Quality|||| ||Resource|||| ||Communication|||| ||Risk|||| ||Procurement|||| ||Stakeholder|||| * Initiating * Develop project charter * Proejct charter is the formal approval to start a project and give proejct manager the authority to manage it * It outlines the intention behind the project and why it exists * Identify stakeholders * Helps understanding their interests and how they might influence or affect the project

  • Planning

    • Integration
      • Develop project management plan
      • Project management plan outlines how the project will be executed, monitored, controlled and closed
    • Scope
      • Plan Scope Management
        • Defines how project's scope will be managed
        • Sets rules for accepting or rejecting additional work
      • Collect Requirements
        • Gathering functional and technical requirements for delivering the project
        • All stakeholder expectations and needs are understood and documented
      • Define Scope
        • Combine the collected requirements in to a detailed description of deliverables
      • Create WBS
        • Breaks down the project in to smaller, manageable components
        • Helps in organising and defining the overall scope of the project
    • Schedule
      • Plan Schedule Management
        • Involves defining how project schedule will be managed
        • Sets rules for how the schedule will be controlled
      • Define activities
        • List all activities required to complete the project ensuring no tasks are overlooked
      • Develop Schedule
        • Sequencing activities and estimating their durations
        • Timeline for project completion
    • Cost
      • Plan Cost Management
        • Defines how the project costs will be managed
        • Sets rules for budgeting and cost control to ensure project stays within financial limits
      • Estimate Costs
        • Estimates costs involving all financial resources needed for the project to create a realistic budget
      • Determine Budget
        • Developing the budget involves consolidating cost estimates to create a financial plan for the project
    • Quality
      • Plan quality Management
        • Involves defining the quality standards for the project and planning how these will be met
    • Resource
      • Plan Resource Management
        • Defines how all resources will be managed
        • Ensures necessary resources are available when needed
      • Estimate activity resources
        • Ensuring all resources needed for each activity are identified and planned for
    • Communication
      • Plan Communiaction management
        • Estiablish a communication plan that details what information will be communicated and how much it will cost
    • Risk
      • Plan Risk Management
        • Defining approach for managing risks including identifying, assessing and planning responses to potential risks
      • Identify Risks
        • Listing potential risks and their impacts
      • Perform qualitative and quantitative risk analysis
        • Prioritise risks based on their potential impact and likelihood
      • Plan Risk responses
        • Developing strategies to to address identified risks
    • **Procurement **
      • Plan procurement management
        • Deciding what good and services need to be purchased OR made internally
    • Stakeholders
      • Plan stakeholder engagement
        • Understanding influence and power of each stakeholder and planning how to enagage them effectively
        • Work closely with communication planning to ensure stakeholders are properly informed and involved

  • Executing

    • Direct and Manage project work
      • coordinating people and resources amd performing planned activities to keep project work according to the plan
    • Manage project knowledge
      • Capturing and sharing lessons learned throughout the project
    • Manage quality
      • Performing quality assurance
    • Acquire and manage resources
      • Obtaining and managing necessary resources for the project
    • Develop and Manage team
      • Resolve conflicts, keep team motivated and productive
    • Manage communications
      • Ensure information is effectively communicated among stakeholders
    • Implement risk responses
      • Involves taking action to address identified risks and minimising their impact
    • Conduct procurement
      • Acquire necessary goods for the project
    • Manage stakeholder engagement
      • Interacting with stakeholders to meet their needs and expectations and ensure their continued support

  • Monitoring and controlling

    • Monitor and control project work
      • Tracking and reviewing proejct performance to ensure it aligns with the project plan
    • Perform Integrated change control
      • Manages changes to the project plan
      • Ensure all modifications are reviewed and approved
    • Validate and Control scope
      • Ensure project deliverables meets the project requirements and any changes are properly managed
    • Control schedule
      • Schedule of the project is managed and any changes or adjustments are timely completed
    • Control costs
      • Involves monitoring project expenditure and managing changes to the cost baseline
    • Control quality
      • Project deliverables meet the required quality
    • Control Resources
      • Project resources are used effectively and efficiently
    • Monitor Communications
      • This involves ensuring that the right information is delivered to the right stakeholders at the right time
    • Monitor Risks
      • Monitoring risks involves tracking identified risks, identifying new risks, and evaluating the effectiveness of risk responses
    • Control Procurement
      • This involves managing procurement relationships, monitoring contract performance, and making necessary changes to contracts
    • Monitor Stakeholder Engagement
      • This process ensures that stakeholders are effectively engaged throughout the project

  • Closing

    • Close Project or Phase
      • This involves completing all activities to formally close the project or phase
      • It includes handing over deliverables, releasing project resources, and celebrating the project’s success