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Understanding the Project Management Cycle

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Tafura Khatun
Atlantic Technological University
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 Author-Tafura Khatun
Contact: [email protected]
Date: 5th June 2024

Keywords: Project Management Cycle,Project Management Phases, Project Planning,Project

Execution,Project Monitoring & Control, Project Closure, Project Management Tools &
Techniques

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Table of Contents
Introduction ........................................................................................................ 3
1. Initiation.......................................................................................................... 3
2. Planning .......................................................................................................... 4
3. Execution ........................................................................................................ 4
4. Monitoring and Controlling ............................................................................... 5
5. Closing............................................................................................................ 5
Benefits of Understanding the Project Management Cycle ........................................... 6
Best Practices for Successful Project Management .............................................. 6
Conclusion ......................................................................................................... 7
References ......................................................................................................... 8

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Introduction

Project management is a structured approach to planning, organizing, and managing resources

to achieve specific goals. At the heart of effective project management is the Project
Management Life Cycle (PMLC), a framework that outlines the key stages of managing a
project from inception to completion. The PMLC is typically divided into five distinct phases:
Initiation, Planning, Execution, Monitoring and Controlling, and Closing. Understanding these
phases is crucial for the successful delivery of projects across various industries.

This cycle is typically broken down into five distinct phases, each with its own specific
objectives and deliverables.

1. Initiation
The initiation phase marks the beginning of the project. It involves defining the project at a
high level and securing approval to proceed. Key activities in this phase include:

• Defining the project scope: This involves identifying the project's objectives,
deliverables, and constraints.
• Conducting a feasibility study: Assessing the project's viability in terms of technical,
financial, and operational aspects.
• Creating a project charter: A document that formally authorizes the project, outlining
its purpose, objectives, stakeholders, and the project manager's authority.

Example: Imagine a company planning to develop a new software application. During the
initiation phase, the project team would define the software's purpose, such as improving
customer service, and conduct a feasibility study to evaluate technical requirements and budget
constraints. The project charter would be created to outline the project's objectives, timeline,
and stakeholders.

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2. Planning
In the planning phase, detailed project plans are developed to guide the team through the
execution and monitoring stages. Key activities include:

• Developing a project management plan: A comprehensive document that outlines

the project’s scope, schedule, cost, quality, communication, risk, and procurement
plans.
• Defining tasks and resources: Breaking down the project into manageable tasks,
assigning responsibilities, and estimating resources required.
• Risk management planning: Identifying potential risks and developing mitigation
strategies.

Example: For the software development project, the planning phase would involve creating a
detailed project plan that specifies the software features, development timeline, budget, and
team roles. The team would also identify potential risks, such as technical challenges or
resource limitations, and plan how to address them.

3. Execution
The execution phase is where the project plan is put into action. This phase involves
coordinating people and resources, as well as integrating and performing the activities of the
project. Key activities include:

• Executing the project plan: Carrying out the tasks and activities as outlined in the
project plan.
• Managing teams: Ensuring that team members are working efficiently and effectively
towards the project goals.
• Communication: Keeping stakeholders informed about project progress and any
issues that arise.

Example: During the execution phase of the software development project, developers would
start coding the software, designers would create the user interface, and testers would begin
identifying bugs. Regular meetings would be held to track progress and resolve any issues.

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4. Monitoring and Controlling
The monitoring and controlling phase runs concurrently with the execution phase. It involves
tracking project performance to ensure that everything is on track and making necessary
adjustments. Key activities include:

• Performance measurement: Comparing actual performance with the project plan and
objectives.
• Quality control: Ensuring that project deliverables meet the required quality standards.
• Change management: Managing changes to the project scope, schedule, or costs, and
implementing corrective actions as needed.

Example: In the software development project, the project manager would continuously
monitor progress against the project plan, ensuring that the development stays on schedule and
within budget. Any changes to the software requirements would be carefully managed to avoid
scope creep.

5. Closing
The closing phase marks the completion of the project. It involves finalizing all activities,
handing over deliverables, and formally closing the project. Key activities include:

• Final deliverable handover: Ensuring that all project deliverables are completed and
handed over to the client or stakeholders.
• Documentation: Completing all project documentation, including final reports and
lessons learned.
• Project evaluation: Reviewing the project’s success and identifying areas for
improvement in future projects.

Example: For the software development project, the closing phase would involve delivering
the final software to the client, ensuring all documentation is complete, and conducting a post-
project review to capture lessons learned.

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Benefits of Understanding the Project Management Cycle
Following the project management cycle offers several advantages:

• Increased Efficiency: A well-defined roadmap reduces confusion and ensures

everyone is working towards the same goals.
• Improved Communication: Clear communication plans keep stakeholders informed
and engaged throughout the project.
• Enhanced Risk Management: Proactive identification and mitigation of potential
risks minimizes disruptions.
• Better Resource Allocation: Resources are allocated effectively based on project
needs.
• Project Success: Following a structured approach increases the chances of meeting
project objectives on time and within budget.

Best Practices for Successful Project Management

• Clear Objectives and Scope: Start with a clear understanding of the project’s
objectives and scope to avoid scope creep and misaligned expectations.
• Effective Communication: Maintain open and regular communication with all
stakeholders to ensure transparency and address issues promptly.
• Robust Planning: Invest time in thorough planning to create a solid foundation for
execution and control.
• Risk Management: Proactively identify and manage risks to minimize their impact on
the project.
• Continuous Monitoring: Regularly monitor project performance and make necessary
adjustments to stay on track.

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Conclusion
The Project Management Life Cycle is a vital framework for guiding projects from start to
finish. By understanding and effectively managing each phase—Initiation, Planning,
Execution, Monitoring and Controlling, and Closing—project managers can ensure that their
projects are completed successfully, on time, and within budget. Whether developing new
software, constructing a building, or launching a marketing campaign, the principles of the
PMLC provide a structured approach to achieving project goals and delivering value to
stakeholders.

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 References

• Morris, P. W. G. (2013). The successful project manager. London: Palgrave Macmillan.

• Turner, J. R. (2009). The role of the project manager in risk management. Project
Management Journal, 40(4), 8-16.
• Project Management Institute. (n.d.). Project management body of knowledge
(PMBOK guide). https://www.pmi.org/pmbok-guide-standards/foundational/pmbok
• Project Management Institute (PMI). (2017). A Guide to the Project Management Body
of Knowledge (PMBOK Guide) (Sixth Edition). Newtown Square, PA: Project
Management Institute.
• Cleland, D. I. (2007). Project Management: Strategic Design and Implementation
(Special Edition). McGraw-Hill International.
• Project Management Institute. (2017). A Guide to the Project Management Body of
Knowledge (PMBOK® Guide) (6th ed.). Project Management Institute.
• Wysocki, R. K., McGary, R., & Beck, R. (2014). Effective Project Management:
Traditional, Agile, Extreme (7th ed.). Wiley.
• Kerzner, H. (2017). Project Management: A Systems Approach to Planning,
Scheduling, and Controlling (12th ed.). Wiley.
• Turner, J. R., & Müller, R. (Eds.). (2003). On the Nature of the Project as a Temporary
Organization. International Journal of Project Management, 21(1), 1-8.
• Meredith, J. R., & Mantel Jr, S. J. (2012). Project Management: A Managerial
Approach (8th ed.). Wiley.
• Crawford, L., & Pollack, J. (2004). Hard and Soft Projects: A Framework for Analysis.
International Journal of Project Management, 22(8), 645-653.
• PMI. (2020). The Standard for Project Management. Project Management Institute.
• Maylor, H. (2010). Project Management (4th ed.). Pearson Education.

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