1PROJECT MANAGEMENT Project management process is built based on the five phases, including, initiating, planning, executing, controlling and closing. Five phases of the project management process are very significant in framing a complete approach to successful project implementation. The five phases of the project management process are required to assess the viability of the steps and resources utilization applied in the management of a project idea. The five-phase process allows chalking out the detailed analysis of a plan, which can mitigate risks and construct precautionary steps for potential concerns in a project idea. A Project cannot be managed without the five phases as it contributes majorly over the final output of a project. In the first stage, the idea is discussed by describing available information on the subject. The initiation stage aligns the interests of the participative members (Kerzner, 2017). Planning builds the roadmap, which is implemented in the execution stage by eliminating unnecessary distractions and solves conflicts, thereby contributing to the overall costs and productiveness (Meredith, Mantel Jr & Shafer, 2017). The monitoring and control stage verifies the feasibilityandapplicabilityofthestage,followedbyclosingtheprojectwiththe accompanied best suitable activities and strategies (Kerzner, 2017).The five-phase process of the project may not be as significant in the smaller-scale project as in the larger volume or scale project plans due to the intensity of negative consequences. However, it is still relevant in assessing the feasibility and effectiveness of a project idea and accompanied strategies (Meredith, Mantel Jr & Shafer, 2017). The phases allow the project managers and team members to understand the potential risks and response plan action in executing the relevant project idea. Nevertheless, the degree of significance will differ based on the scale of the project.
2PROJECT MANAGEMENT References: Kerzner, H. (2017).Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons. Meredith, J. R., Mantel Jr, S. J., & Shafer, S. M. (2017).Project management: a managerial approach. John Wiley & Sons.