What are the 5 stages of project management?

Project Management is becoming one of the top courses of all time because of high demand project managers in the market. If you are running a business, software house or a company, you need a project manager who can help you to get the best result in no time.

It is very important to hire a project manager and for that Project management is the most important course. There are many platforms that offer Project management course such as sitespower.com. Here you can find all the links regarding Project management.

Not just that they offer a different certificate that will help you to understand better about what project management is and how you can become a good Project Manager.

When you start a project you need someone who can handle it in the best way as possible. This is the reason you have to hire someone who has better experience about different phases of Project management.

Phases of Project Management are the key that helps to run your project smoothly. If you don’t know the basic pillars of this subject, then you can’t achieve anything in life.

What is Project Management?

Project Management is all about handling the project in the best way as possible. If you want to become a good project manager, you have to learn this subject. This subject has gained so much popularity in the past few years and it is becoming more popular.

Project Management is all about defining the goals of a project and understanding how the scope of the project. Every project is unique so you have to understand the basis of it to get the best result.

The idea of Project Management is basically derived from a Business field where different decisions are made for the betterment of the company.

If you want to become the best project manager, you have to learn this subject.

5 stages of Project Management

Here are 5 stages of Project management that you should learn because otherwise you wouldn’t get the results. If you know these stages, then you can easily improve business performance and can get a better place in that particular company.

• Project Initiation

• Planning

• Execution

• Monitoring and control

• Project Closure

These are the basic 5 stages of project management that will help you to understand better about project management.

Project Initiation

This is the first phase of project management; without this stage, you can’t go further. In this phase, you have to measure the feasibility of the project. You can use different online tools to do that and can also do some paperwork to understand how your project works.

The two important points of this project include:

• Business card Document

• Feasibility Study

Planning

Once you have done the feasibility study now, it’s time to plan, how your project is going to work, and what are the important steps that you can take. It can include budget and time. This phase is very important because it can help you to understand your project.

In this step, you can give your team some ideas about how the project is going to work and what are the important factors of it. This is the most crucial part that helps you to understand where you stand.

This process includes the following things:

• Cost

• Scope

• Timeframe

Execution

This phase is linked with project management as it helps in satisfying customer needs. Execution is all about creating the things that can help to understand your customers about the project. This is the duty of team leaders as they have to guide the team about what are the important factors of the project.

Execution can only be done if your plan is on point. If you have done the best planning, then you can easily execute your plan. In short, you can say that during this phase, how much effort you have to put depends on planning.

Monitoring and Control

Once you have executed the plan, now it’s time to monitor and control your project. As team leader execute the plan, so it’s time to check how the plan is going. This step matters a lot because it calculates the performance and tracks the activities.

Project Closure

This is the final step that is performed when the team closes the project. In this step, you have to check if the other four stages are completed or not. This is the step that can decide whether you have become successful or not.