The 5 Phases of Project Management

The 5 phases of project management include initiation, planning, execution, monitoring, and project closure.

• Project Conception and Initiation – a project is formally started, named, and defined at a broad level during this phase. Depending on the nature of the project, feasibility studies are conducted. 

• Project Definition and Planning Phase – the project manager will plan a comprehensive list of individual plans for – cost, scope, duration, quality, communication, risk and resources. Some of the important activities that mark this phase are quoting based on plans, booking main contractors for specific parts of the build, scheduling, estimating, quoting and reserving resources, planning dates, and modes of communication with stakeholders based on milestones, deadlines, and important deliveries.

• Project Execution Phase – This is an important phase, as it will help you understand whether your project will be a success, affordable and the with time delays.

• Project Monitoring and Control Phase – this mostly deals with measuring the project progression in accordance to the project plan and manage changes to project requirements.

• Project Closure Phase –  It includes a series of important tasks such as delivering the product and formal termination of contractors in case they were employed on the project.