Project Management Strategy: Five Project Phases
Five Project Phases
BUS697: Project Management Strategy
Instructor Dr: Shawn Milligan
Date April 7, 2014
When developing a new or current project there must be processes design throughout the project lifecycle that controls the start, middle and finish phases of the project; however these phases are typically in accordance with the organization’s business strategy. An organizations business strategic defines the roadmap in how the company should perform its business objectives, mission and vision for long-term success, allocating resources that implement policies and plans, in the development of projects and programs. There are five essential knowledge categorizes within a project lifecycle that defines processes needed to achieve project goals. The processes are basically listed as phases or process groups, which includes the initiating phase, planning phase, executing phase, monitoring and controlling phase, as well as the closing phase (Sheid, & McDonough 2010). This paper will discuss the five phases within a project lifecycle, and how the organization’s business strategy may be supported by each phase.
Initiating Phase
Any project within the business environment must be initiated and processes would need to be in place that authorizes the project start. The initiating phase of a project lifecycle is where approval is acquired for project startup. There are two elements needed for the initiating phase, developing a project charter and then identifying stakeholders (Sheid, & McDonough 2010). Once these two areas are developed project management can then move forward to the planning stage aligning the project with the overall organization objectives, mission and vision for long-term success.
Planning Phase
Once the project charter and stakeholders have been identified project planning can emerge. In this phase project documents are creates which set direction for the project. Furthermore in the planning phase the
BUS697: Project Management Strategy
Instructor Dr: Shawn Milligan
Date April 7, 2014
When developing a new or current project there must be processes design throughout the project lifecycle that controls the start, middle and finish phases of the project; however these phases are typically in accordance with the organization’s business strategy. An organizations business strategic defines the roadmap in how the company should perform its business objectives, mission and vision for long-term success, allocating resources that implement policies and plans, in the development of projects and programs. There are five essential knowledge categorizes within a project lifecycle that defines processes needed to achieve project goals. The processes are basically listed as phases or process groups, which includes the initiating phase, planning phase, executing phase, monitoring and controlling phase, as well as the closing phase (Sheid, & McDonough 2010). This paper will discuss the five phases within a project lifecycle, and how the organization’s business strategy may be supported by each phase.
Initiating Phase
Any project within the business environment must be initiated and processes would need to be in place that authorizes the project start. The initiating phase of a project lifecycle is where approval is acquired for project startup. There are two elements needed for the initiating phase, developing a project charter and then identifying stakeholders (Sheid, & McDonough 2010). Once these two areas are developed project management can then move forward to the planning stage aligning the project with the overall organization objectives, mission and vision for long-term success.
Planning Phase
Once the project charter and stakeholders have been identified project planning can emerge. In this phase project documents are creates which set direction for the project. Furthermore in the planning phase the
References: Kerzner, H. (2005). Using the Project Management Maturity Model: Strategic planning for project management (2nd ed.). Hoboken, NJ: John Wiley and Sons, Inc. ISBN: 9780471691617. Dessler, (2011). Framework for Human Resource Management, sixth edition Sheid, J., & M. McDonough (Ed.). (2010, June 13). The initiation stage in project management [Web log article]. Retrieved April 5, 2014 from www.brighthub.com/office/project management/articles/1672.aspx Risk management expert unveils 'lessons learned ' from 9/11/01. (2002, Jul 08). PR Newswire. Retrieved from http://search.proquest.com/docview/449017436?accountid=32521 Wright P. McMahan G. McWilliams A. (1993), Human Resources and Sustained Competitive Advantage, University of Southern California retrieved April 4, 2014 from http://www.marshall.usc.edu/ceo http://ceo.usc.edu/pdf/T9319239.pdf