Students have asked us for what is the fifth step in the project management life cycle. Project management cycle has five main steps which includes, initiating, planning, executing, monitoring and control. The final step in project management and fifth stage is the process of closing a project. This article of the five stages of project life cycle explains most vital steps in the project management life cycle. These allows the team to develop strategies and methods to evaluate and document the project success and measure progress or failure.
Project mistakes are possible for any project hence why managers adapt the process of monitoring and evaluation to improve the project. Any project manager, understands in order to build stronger processes and more successful teams there is need for Result based monitoring and evaluation and avoid bad project management practices. A project life cycle is a five-step process used when progressing from one stage, following project scope to its completion. Definition of a project life cycle has simply a process that outlines stages of a project from its start to the end (closing). The cycle helps project managers know at which stage there, resources needed and if there’s progress or changes necessary to be implemented.
Fifth step in the project management
Project closing: This is the final process of the project activity cycle where the project eventually comes to its completion. During the project closing phase, project report is made to the sponsor or client of the project. Project closing documents the challenges and ultimate success of the completed project. The closure process includes submission of results to sponsor or client, submission of documentation to owner, and its the last stage on five stages of project life cycle. Closing of projects includes termination of contract with supplier, release of staff and equipment, and notification to stakeholders of project completion.
Ways to commonly close a project
Every project comes to end because a project has defined time frame in which its supposed to be completed. The most commonly used methods to close a project are Technical, learning, people, Reporting. These are the four ways to commonly close a project in the world that project managers implement at the end of projects.
- During the technical phase, project managers work around the clock to clean up loose ends.
- The learning phase, helps project managers to evaluate what did and didn’t work through evaluation, as well as how to improve.
- In the people phase, when closing a project its about appreciating the team members and releasing them.
- Reporting ensure project documents are properly filed, storing or destroying files at the end of a project, analysis of knowledge management that should be followed and other formal process in place.
Project management principles and process
Project management principles and process create clear and concise project goals, manages future project risks, creating performance baseline, and measuring project success. Importantly paly a vital role during final step in the project management life cycle of any project.
Project management articles
- Five Ways to Manage Risk
- Project Risk Management
- Project Scope in Software Engineering
- Scope of The Project Example
- Functions of monitoring and evaluation
- Result based monitoring and evaluation
- Examples of monitoring and evaluation activities
- Project Management Team Roles
- Constraints Of A Project
- Legitimate power in project Management
- The Elements Of The Project Triangle
- Types Of Stakeholders In A Project
- What Is Involved In Risk Matrix?
- 3 Types Of Project Risk
- Five Stages Of Project Life Cycle
- Types of power in project management
- Universities offering project management in Zambia
- Importance Of Project Scope
- Similarities and distinction between objective and goals