Project Management

Project management is the process of initiating, planning, executing, controlling and closing a specific task in order to achieve a specific goal. This article discusses the 5 key phases of project management: project initiation, project planning, project execution, project monitoring, and project closure. It also highlights the importance of feasibility studies, goal setting, and project evaluation. Find study material and assignments on project management at Desklib.

Running head: PROJECT MANAGEMENT
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Running head: PROJECT MANAGEMENT
Project Management
Project management is the process of initiating, planning, executing, controlling and closing a
specific task in order to achieve a specific goal. The main objective of a project management is
to achieve the specific task within a specified period. There are 5 key phases of project
management that we shall be looking into.
Project Initiation
This is the beginning of the project and its main aim is to determine whether or not the project
can be carried out. In doing this one has to undertake a feasibility study which is very important
as it informs on various issues such as the cost, impact on environment, and expected returns if
the project is to go on. Once the project can proceed, then we need to come up with a project
initiation document which will indicate the purpose and requirements of the project. The
document should cover on all stakeholders that may be affected in one way or another by the
project. The input to be looked into is the owner requirement while the output for this is the
feasibility report generated.( Harrison, & Lock,2017)
Project Planning
This is the phase where the route to be taken by the project is developed. We have to consider the
legal implications as one of the input of the phase. The specific goals to be met by the project are
set out. In setting the goals one can use the smart technique which entails;
 Specific-Ask questions like who, where, which, and why
 Measurable-Formulate criteria to measure success

Running head: PROJECT MANAGEMENT
 Attainable-Identify the priority goals and how to achieve them
 Realistic-The goal should be reasonable and achievable
 Timely-Set a timeframe to achieve your goal
In this phase, the scope of the project is laid out together with a plan.. The plan incorporates such
thing as the timetable of the project and the performance measures. Also at this stage the roles
and responsibilities are clearly spelt out. The output for this stage is the project plan.
Project Execution
It is a phase in which the execution of the project starts. There are a lot of things going on such
as status reports, meetings, performance reports and development updates. The following
happens in this phase
 Team development
 Resources are assigned
 Execution of project management plans
 Assignment of task is carried out
 Project schedule is updated
 Tracking systems are set up
The project manager will ensure that all this are fully carried out for the project to run without
any major disruption. The input for this is the plan formulated while the output is the product
delivered
Project monitoring

Running head: PROJECT MANAGEMENT
This is the phase in which we will measure how the project is progressing since its inception and
also how it is performing. This is to ensure that all that is going on within the project is in
accordance with the project management plan that was formulated. The project manager will try
to use key performance indicators to establish whether the project is on track or not. (Kerzner, &
Kerzner, 2017).The key performance indicators to be used include;
 Objectives of the project-The project is measured if it is still on schedule and if it still
conforms to the set out budget. This is in order to know if the project will meet the
objectives of the stakeholders.
 Performance of project- The project is monitored on its performance in order to
assess if there are any changes that have occurred while the project is going on.it also
ensures that the changes are quickly identified and addressed
 Tracking the cost and labor-The project manager has to assess whether the cost and the
work being done is still as per the laid out plan. This is critical in concluding whether or
not the project will meet its completion date.
 Quality task-This is the process of analyzing if various task are being met and if the
highest levels of quality are being observed in doing so.
This stage will base its input on the project delivered and test done while the output that will be
considered will be handing out of the project after all things are checked.
Project Closure
After the process of initiation, planning, execution and monitoring are complete; we now get to
the closure of the project stage. The project at this stage is complete and the various contractors

Running head: PROJECT MANAGEMENT
and other people given responsibilities are terminated.it is also at this stage that those people who
were most valuable members are recognized and thanked for their efforts.
This phase also involves carrying out an analysis of the work done. This is commonly referred to
as the post mortem of the project in which the project manager uses to critically evaluate as to
the success and failure of the project. This is done by identifying the things that went wrong in
order to avoid such in the future projects. ( Larson, & Gray,2017)
Lastly, the project manager still has to prepare a final project report. This report will contain
various issues such as the project budget and will elaborate if the same was achieved or the
budget went higher over the period of the project. The report will also detail the number of things
that weren’t accomplished and the project manager will work in ensuring that the tasks are fully
completed.

Running head: PROJECT MANAGEMENT
References
Harrison, F., & Lock, D. (2017). Advanced project management: a structured approach.
Routledge.
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning,
scheduling, and controlling. John Wiley &
Sons.
Larson, E. W., & Gray, C. F. (2017). Project management: The managerial process. McGraw-
Hill Education.