Gr12 Project Management PDF

Project Management Project management 3. Project management stages What are the stages of project management? It’s the phase when an idea becomes a meaningful business plan. This stage inv...

Project Management Project management 3. Project management stages What are the stages of project management? It’s the phase when an idea becomes a meaningful business plan. This stage involves defining the project and its objectives. Before kicking off the project, there are a few questions that need to be answered: What is the purpose of the project? What kind of resources will be required? Are there any potential constraints down the road? How much time would it take for the project to be finished? Does it have a budget range? Who are the stakeholders? Project management 3. Project management stages What are the stages of project management? The primary goal of this stage involves creating a detailed project plan, which should include the following information: Setting project goals Identifying the deliverables and creating a breakdown structure Estimating the time and resources required to complete each task Forecasting any risks that may occur associated with the project and ways to manage them. In this phase, you carry out the tasks and activities identified during planning. During the project execution, project managers need to manage resources, address and resolve any shortcomings, build efficient workflows, and carefully monitor progress. Moreover, maintaining open communication among project stakeholders ensures that everyone stays informed Project management 3. Project management stages What are the stages of project management? Although monitoring and controlling is labeled as the fourth step, it typically takes place concurrently with the execution phase. During monitoring, regular reviews of the project's status are essential to promptly identify and address issues, ensuring timely corrective actions are taken when needed. Therefore, gathering key data is essential to determine whether it's performing in line with the project plan. At this stage, you want to ensure the stakeholder is satisfied with the project's outcomes. As a final to-do, you can conduct a last project review to identify any lessons learned and document the project results. The project closure phase marks the formal conclusion of a project