PhD Graduate and result-oriented Director with 25 years experience with involvement in all levels of Business Strategy, Sales and Marketing, Managing Project and Product Development. Aside of managing a company, he is also the best corporate trainer and public speaker in seminar and conference.
Project management is the application of knowledge, skills, tools, and techniques to a broad range of activities in order to meet the requirements of a particular project. Project management has final deliverables that are constrained to a finite timescale and budget. Furthermore, these are several key phases of project management namely:
This is the start of the project, and the goal of this phase is to define the project at a broad level. This phase usually begins with a business case. This is when you will research whether the project is feasible and if it should be undertaken. If feasibility testing needs to be done, this is the stage of the project in which that will be completed.
This phase is when the project plans are documented, the project deliverables and requirements are defined, and the project schedule is created. It involves creating a set of plans to help guide your team through the implementation and closure phases of the project. The plans created during this phase will help you manage time, cost, quality, changes, risk, and other related issues.
This is the phase where deliverables are developed and completed. This often feels like the meat of the project since a lot is happening during this time, like status reports and meetings, development updates, and performance reports. A "kick-off" meeting usually marks the start of the Project Execution phase where the teams involved are informed of their responsibilities.
Project Monitoring and Controlling
In this phase, the project manager monitors project by performing calculations of key performance indicators (KPI) for cost and time to measure the degree of variation, if any, and in which case the team determines the corrective measures and course of action to keep the project on track. To prevent project failure, consider why projects are likely to fail and the ways to prevent failure.
In this phase, the project team and stakeholders formally close the project. It includes performing several tasks namely delivering the product, freeing up resources, rewarding team members, and formally ending the employment or services of contractors. The project manager calls a meeting to evaluate what went well in the project and what did not for lessons learned.