Project Management life cycle and its tips

Project Management life cycle and its tips
Project Management life cycle and its tips

The second component is required to complete any project. And there are your process groups for the Project Management Process. Your process groups aren’t quite adjustable if you’re following PMI’s Project Management Body of Knowledge. The process groups themselves are not, but the processes inside the group are. You can’t change the order in which they appear. So far, we’ve learned about five different process groups. Initiation, planning, execution, monitoring and control, and closure are all steps in the process. They’re very much set in stone. You don’t mess with them all that much. This is where the complication begins. Those of you who want to take the PMP exam can do so here. I will now tell you the single biggest reason why most test takers fail. And it’s all because of confusing this, this what I am about to share.

Remember how we talked about how Project Life Cycle is really adaptable? What we do in real life is simplify things for little jobs. Instead of assigning process groups to each phase of the project life cycle, such as conceiving – initiation, planning, execution, and closing, process groups should be assigned to each phase of the project life cycle. Instead of attaching the process groups to a single phase project lifecycle, we attach them to a single phase project lifecycle in real life. This makes it a lot easier to manage the project. There is less difficulty. I mean, why make things more difficult than they need to be?

There’s a lot of paperwork to deal with. But, and this is the tricky part, this does not imply that process groups have suddenly become project life cycles. Initiation, planning, execution, and closure are not the stages of your project life cycle.

Let’s start with the most basic process group: initiation. Let’s get started. To keep things grounded, I’ll explain the process groups using the construction of this boat as an example. I could provide you with examples from my professional experience. Obviously, as a manager at PwC Consulting, Price Waterhouse Coopers, I was in charge of a large number of projects. However, it would cause a few issues.

  1. I am under strict client confidentiality agreements and
  2. 2 we don’t use PMI’s framework.

We had our own internal technique that we had to stick to. As a result, I believe I will use this boat. As an example, designing and producing this boat will be enjoyable while being straightforward. This holds true for project management as well. You have two critical procedures in the initiation process group; the first is to draught a project charter. The second step is to identify stakeholders. To begin, we’ll look over the Project Charter.

A project charter is a short document that outlines a few key points. It’s similar to a mini-project plan. However, it’s a very easy one. In essence, you’re trying to figure out why you’re doing what you’re doing. So, if I had to create a project charter for building this boat, it would include my objectives, scope, a rough estimate of cost and timeline, important stakeholders, and milestones. That’s all there is to it. You don’t want the document to be overly thorough at this time. For the planning stage, we’ll need the details later.

Your project charter could be as simple as stating why you are considering expanding into overseas markets or building that new factory. I’ll say it one more time. This is not the time to get bogged down in minutiae. Discuss the business case, as well as the project’s high-level objectives, significant deliverables, and roles and responsibilities. But there’s one point I’d like to make. If your project isn’t particularly large, try to avoid including too many specifics.

Then you’d wonder why you’re doing it. It doesn’t have much information if it isn’t detailed or comprehensive. Why would you waste time preparing it? And it would be a really wise question if you asked it. The reason for this is to ensure buy-in. The leadership’s support for spending extra time and possibly money to adequately plan it.

As a matter of principle, are you okay with me – MY DEARPROJECT SPONSOR- pursuing this project further? It’s a turning point. It’s possible that your project sponsor didn’t want this project in the first place. You don’t start planning if they say no. And planning, my friends, is not a simple task. As a result, it’s a wonderful opportunity for senior leadership to kill the project early on, rather than wasting time designing a project that will be a waste of time.

Perhaps they don’t want to enter a new market, or perhaps they don’t want to build a new factory. As a result, they kill it off right away. But I’d like to start on a serious note here. And to be honest, I’m a little contradictory. What you need to do, or how much detail you want to add for each process group, including initiation, is highly dependent on the scope of the project, the size of the project, and the industry.

So, if you’re starting a project like building the International Space Station (ISS), your initiation will clearly include a lot more specifics. It’ll be similar to high-level planning in several ways. The reason for this is because designing a project like the International Space Station costs more than ten billion dollars. It’s all about the preparation. As a result, obtaining clearance for a “go-ahead” will necessitate presenting a lot more material to your project sponsor. Okay, I’m hoping everything is going well so far. Let’s get this party started. Stakeholder Identification is the second process in the initiation process group. At this point, you’ll keep things simple once more. You will not categorise all stakeholders according to their power. You’ll do that later in planning.

Now, as I previously stated, we simply want to know whether we should proceed or not. It’s a turning point. So all you have to do is make an excel list of all the stakeholders you’ll be interacting with. Stakeholder Register is the fancy name for this. My wife and I will be my stakeholders in this case. My sponsor will be her. Then there’ll be my neighbours, because I’ll be hammering and drilling a lot. So I’m going to create a lot of noise.

As a result, I must incorporate them as stakeholders. Your project sponsor is usually the most important stakeholder in most initiatives. Who is your financial backer? Who gives you the green light or the red light? What is the name of the project manager? Who will be a part of the project’s team? Who will make up the project management team?

We can now move on to planning given that we have the project charter and project stakeholder register. Of certainly, as long as you get the necessary approvals. Now that we’ve started the project and received our approvals, it’s time to start planning. Make a project plan. Initiation is a lot less extensive and comprehensive than planning. We’ll need to talk about some knowledge areas, which we’ll discuss in the future article.

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