Management

Project Management

  
Four Phases of a Project
  

→ Project Management: 2 Approaches

→ Business Synergies Approach

 

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Four Phases of a Project

❶ Initiation

  • Business case analysis, project charter, and project strategic alignment is completed by the upper management or sponsor

  • Broad direction for the project is provided to the project leader by the sponsor. Objectives, limits, project priorities, and constraints are defined.

Output: Business Case and Project Charter

❷ Planning

  • Define project stakeholders

  • Select the team members

  • Define the scope of the project

  • Plan phases and milestones of the project

  • Define any risks associated with the project and develop ways to prevent them

  • Determine the resources required to complete the project

Output: Project Plan

❸ Execution Phase

  • Create the deliverables

  • Monitor project progress

  • Resolve issues

  • Communicate progress

  • Manage changes to the plan

Output: Status Reports; Final Deliverable(s)

❹ Close-Out Phase

  • Evaluation of customer satisfaction

  • Assessment of lessons learned

Output: Close-Out Report

 

 

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