THE

DIFFERENT PHASES OF A PROJECT

Hello everyone,

You need to know the different phases of any project to understand how
best to conduct yours. A project can be divided in three key phases.

The initiation phase

The start of a project is always defined by a requirement that needs to be
fulfilled. So, the project initiation phase quite naturally begins with a
statement of requirement. You then need to study the project’s
opportunities and feasibility as well as potential risks.

What’s the purpose of the project? What are the main issues and
objectives? Will the project be profitable? Do you have the technical and
financial means to successfully see your project through to the end? These
are just a few questions you should be asking when you’re working out
the fundamentals of any project.

The planning phase

The second stage of a project is the planning phase. This phase has two
related objectives: to define as precisely as possible how the project will
be implemented, and to prepare for that implementation. During the
planning phase, you’ll set a schedule and work out how to allocate tasks
and resources, for example.

The project team will need to create several documents during this
period. For example, the team will need to write a financial plan,
estimating and formalising all costs. The group will also formulate a
schedule, listing deadlines for particular actions or tasks. And the team
will need to put together a scope statement, detailing all project
deliverables.


The implementation phase

Phase three is when the project is actually rolled out. So, you have to
oversee the implementation of the project until you’ve achieved
results. The team will need to regularly review the project progress.
Watch out for little slips in the budget or minor delays that can build up!
You’ll also need to manage any amendments made along the way, and
ensure you’re always on track to meet project deliverables, that is the
required results.

In project management, we talk about “milestones ” to describe set
points in the schedule when a project should be reviewed. Milestones
are useful in better overseeing project implementation. They exist in all
phases of a project life cycle, and they often determine whether a project
can move to the next stage or not: this is called a “go/no go” decision.

The final phase of the project ends when every piece of work has been
accepted and the product or service has been delivered. Congratulations,
the project can be brought to a close!

Thank you for your attention, and see you soon!