At 3RT Networks projects are executed in accordance with the five phases of project management established by the Project Management Institute (PMI). These phases include project initiation, planning, execution, performance/monitoring, and project closure. 3RT Networks employs project managers with decades of IT Project Management in projects scaling from SMB to Fortune 500 in scale.
5 Phases of Project Management
During this phase the project is defined at a high level in most cases including a business case or justification. During this phase it is determined whether the project is feasible and should be undertaken. This phase will include stakeholder’s due diligence to determine if the project is a go and to be scheduled.
The planning phase is critical to develop a roadmap that all project stakeholders will follow. The phase is generally driven by setting goals. One of the more popular process to setting goals is S.M.A.R.T Goals.
Specific – Set specific goals answering who, what, where, when, which and why.
Measurable – Create criteria that can be used to measure the success of the goal.
Attainable – The most important goals should be identified and what is required to achieve.
Realistic – Must be willing and able to work toward a particular goal.
Timely – A time frame must be created to achieve the goal
In the execution phase deliverables are developed and completed. Much of the “meat” of the project occurs during this phase such as status reports, meetings, development updates, and performance reports. This phase is typically initiated with a “kick-off” meeting where roles and responsibilities are communicated.
Tasks completed during execution phase include:
- Develop project team
- Assign resources
- Execute project management plans
- PM directs and manages project
- Project tracking
- Assigned tasks are executed
- Status meetings
- Project schedule updated
- Project plans modified as needed
While the monitoring phase will have different objectives than execution, they typically run unilaterally.
The monitoring phase is all about measuring project progression and performance to ensure that everything aligns with the project management plan. Often project managers will enlist key performance indicators (KPIs) to determine if the project is on track.
Project Objectives: Measuring if a project is on schedule, on budget, and will meet stakeholder objectives.
Quality Deliverables: This determines if specific task deliverables are being met.
Effort and Cost Tracking: PMs will account for the effort and cost of resources to see if the budget is on-track. This tracking informs the PM if the project will meet the completion date on time and budget considering the current performance.
Project Performance: This monitors changes in the project. It takes into consideration the amount and types of issues that arise and how quickly they are addressed. These can occur from unforeseen hurdles and scope changes.
This phase represents the closure of the project. During this phase the PM will hold a closure meeting with the customer to go over deliverables, obstacles, and overall success. Any pertinent documentation will be updated. An internal Lessons-Learned meeting will take place to discuss improvements or observations that can be used in subsequent projects.