What are the five stages of the project life cycle? The five stages in the project life cycle are initiating, planning, execution, monitoring and control, and closing which this article sets out to discuss. The first thing the article will do is to fully outline what are the five stages of the project life cycle. Definition of what a project life cycle is before eventually discussing the stages one after the other.
A project life cycle is a five-step process followed by almost all project managers. When progressing from one stage of the project scope to the next until its completion. Now that a definition of a project life cycle has been given, the following are the five stages of a project life cycle:
What Are The Five Stages Of The Project Life Cycle?
(Answer) Five stages of a project cycle are project initiation, project planning, project execution, project monitoring and control and project closure.
This process helps visualize what needs to be accomplished. Here the project is formally approved by the sponsor/client, the initial scope is defined and stakeholders are identified. This process is carried out so that projects and programs are not only approved by the implementing agency but also that projects are aligned with the strategic objectives of the organization. If this is not done, the project can be started and executed in a chaotic manner, with no real purpose or intent.
This is an important process in project management. The planning process is at the core of the project activity cycle and provides guidance to stakeholders on where and how to implement the project. At the planning stage, the project plan is documented, the project results and requirements are determined and the project schedule is created. This includes creating a series of plans to help your team through the implementation and closing phases of the project. The plans created in this phase help the project team manages time, cost, quality, change, risk, and related issues.
This process is also known as the implementation phase, where the plans developed in the earlier phases of the project activity cycle are put into operation. The purpose of the implementation phase of the project activity cycle is to achieve the expected results of the project. This is usually the longest phase of the project management life cycle and uses the most resources. During project implementation, the implementation team uses all the schedules, procedures, and templates created and expected in the previous phase of what are the five stages of the project life cycle. Unexpected events and situations inevitably collide and the project manager and project team must deal with them when they occur.
4. Monitoring and Control
This process monitors all necessary tasks and indicators to ensure that the agreed upon and approved project for implementation is within scope, time, and budget so that the project proceeds with minimal risk. This process involves comparing the actual implementation with the planned implementation and taking corrective actions to achieve the desired results when there are significant disparities.
It is considered the final process of the project activity cycle. This is the final stage where the project eventually comes to its completion and then a report is made to the sponsor or client of the project on the ultimate success of the completed project. The closure process includes the submission of results to the sponsor or client, submission of documentation to the owner, termination of the contract with a supplier, release of staff and equipment, and notification to stakeholders of project completion.
It is a vital procedure that project managers follow the discussed project life cycle stages in this article if the project is to be done in a professional manner and subsequently deliver on what it initially set out to achieve as these stages inform on what should follow after a particular stage which then ensures quality work and avoids mumbo jumbo kind of working.
To conclude what are the 5 stages of the project life cycle? The five stages of project life cycle are Initiating, Planning, Execution, Monitoring and Control then closing.