At this stage, the Project Management team will have to ensure that the project teams and stakeholders are properly aligned on the success criteria of the project all through its lifecycle.įor the best outcome at this stage, it is best to ensure that both internal and external stakeholders are involved. The objective of this phase is to make sure that the project meets the needs of the business. However, when it is not done right, it can lead to the discontinuation or delay of a new project. This phase of Project Management has some key tasks to complete including defining project goals, creating a business case, completing the project charter and drawing up the list of stakeholders.ĭuring the Project Initiation phase, the performance of the team can result in the authorization. Even, at this stage stakeholders should be identified. In the five phases of Project Management, project initiation marks the start of the project and the development of the project charter happens. All these stages work together to turn a project idea into a result that works. ![]() PMBOK Guide:īased on the Project Management Body of Knowledge from the Project Management Institute, a Project Management life cycle encompasses five distinct phases starting from initiation and ending with closure. If you are entrusted with the responsibility of Project Management in your organization, it is better to keep yourself aware of the 5 phases of Project Management. Also, when you do this, it will even become easier when each stage has its own deliverables and goals. It will be easy to control the entire project with quality as the focus when you divide the project into stages that are easy to manage. ![]() ![]() Right from planning to shipping the deliverables to customers on time, many challenges can come up. Management of a Project is not easy irrespective of the scope and scale. Mega Offer! Access our Advanced courses for just 21,999/. We Offer World-class guidance to transform yourself as well as your organizations *Avail a Flat 10% Discount Across all our certification courses We are proudly recognized for Excellence in Agile Consulting and Transformation Services – 2023 by Economic Times and Times of India!
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