WiseLancer
  • Home
  • About
  • Marketing
  • Management
  • Business
  • SWOT & PESTLE 
  • Health
  • Travel
  • Romance
  • Cooking & Foods
Tag:

project

BusinessManagementMarketing

Project Management: The 5 Phases of the Life Cycle

by Shamsul November 16, 2021

Project Management: The 5 Phases of the Life Cycle, And the Fundamentals to Know

Companies that base their project management on good practices lose 21 times less money than their counterparts who have no credentials in project management (PMI, 2018)

The constantly changing context in which we live requires the assessment of opportunities and the implementation of strategic choices.

The ideas, the result of these strategic decisions have value when you break them down into projects. Each project consists – according to the PMI – of a temporary activity with a start and end date.

Concretely, project management is an operating mode adopted more and more by companies in order to guarantee the achievement of their strategic objectives.

We, therefore, dedicate this theme to clarifying its operational mode, while explaining all its processes, methods, tools, professionals, and many other essentialities.

Fundamentals Project Management (5 Phases)

1: Initialization

2: Planning

3: Execution

4: Control and Monitoring

5: Closure

What is Project Management?

Project management is above all a lot of “common sense” supported by the application of niche knowledge, skills, latest tools, and techniques to the activities of a project.

The objective is to achieve the set objectives and achieve the expected benefit while creating value.

Project management is carried out by applying and integrating, as appropriate, the processes identified for the project.

It enables organizations to run projects efficiently.

To summarize, we can say that project management is represented by the project golden triangle, namely: Time – Quality – Cost.

The Golden Triangle of the Project

Indeed, the whole point is to manage and maintain the balance between the three decisive factors for the success of a project.

The Role of Project Management

The main role of project management is to lead a project in compliance with the triple constraint: cost, quality, deadlines.

The objective is that the project achieves its purpose which is nothing other than the creation of value. This you can achieve by moving the organization from a current state to a desired future state.

The Life Cycle of a Project

A project generally comprises five phases: from project start-up or initialization of the project, until its closure.

Each phase is made up of a number of tasks that contribute to the achievement of a common project objective.

The goal is to create value, which transitions a project from a current state to a desired future state.

How Do These Stages Of Project Management Work?

Here are the 5 phases of the project life cycle:

Initialization:

This phase marks the start of any project and its objective is to find out the outline of the project in general terms. It generally begins with a related business case and ends with a project charter.

Planning:

This phase is the key for successful project management and emphases setting a roadmap for the group and ensuring that everyone will follow. It usually commences with setting goals and the scope of the project and ends with developing a project plan.

Execution:

After starting and planning the project, it is necessary to set up an execution plan adapted to the challenges of the project. This implementation plan must clearly represent the project description as well as its execution methods.

At the end of this phase, deliverables are submitted to participants as well as to stakeholders.

Control and Monitoring:

This is a phase parallel to the execution phase, where you can watch the progress and performance of the project. while ensuring compliance with the project management plan.

Key performance indicators (KPIs) are determined and used to monitor the project and ensure its proper direction.

Closure:

Completion of deliverables is certainly an important part of a successful project.

However, one should not neglect the closing phase which includes many tasks such as: drawing up the project report, project evaluation, compilation of lessons learned, and closing of accounts and contracts.

Each phase of the life cycle of a project is enclosed by the production of one or more deliverables, such as the opportunity study, the project charter, or even the project report.

Also, each phase is characterized by the use of a certain number of tools, project management software, as well as various techniques, for example:

SWOT analysis

The Gantt chart

The critical path

The risk matrix

And many others

These tools and methods of project management are no longer the preserve of experts. Anyone interested in project management or becoming a project manager can more easily access intuitive, out-of-the-box tools.

Conclusion

The success of your project will depend not only on your ability to manage project tools. Above all to effectively manage project activities while respecting the quality, cost, and deadlines.

In short, effective project management includes both the strategic aspect, the technical aspect, and the human aspect. The latter is a key success factor that Management often overlooks or manages poorly by organizations.

After all, a project manager is a human resource who interacts with the participants and stakeholders of the project on a daily basis. He, therefore, strives to develop good relationships inside and outside his organization.

Find out more by browsing our Posts

Need Help or Advice in Content Management:

Do you want more advice? Do you have good practices to share? Express yourself in the comments.

Do you want any help writing quality content, driving more traffic to your website, and boosting conversions? Get in touch through my Freelancer.com profile. I always prefer to work through Freelancer.com for smooth functioning. Here you pay safely and securely.

Read More:

10 BEST QUALITIES OF A TRUE LEADER

How to Efficiently Conduct a PESTLE & SWOT Analysis

Top 10 Most Beautiful Woman in the World – 2021

November 16, 2021 1 comment
0 FacebookTwitterPinterestEmail
Pass the SWOT Analysis
BusinessManagementMarketingSWOT & PESTLE 

Pass the SWOT Analysis: Example of Project Management

by Shamsul November 10, 2021

Pass the SWOT Analysis: Example of Project Management

You’ve just been given a new project “from scratch” and you are wondering how to go about getting started. Do not panic! Here are all the tips to get things straight and get your project off to a good start. You will discover how to pass the SWOT analysis (Strengths-Weaknesses – Opportunities- Threats), and how to apply this matrix to the initial crucial phase of project management.

Project Management Kit

Summary

1- The essential crucial phase

2- What is SWOT Analysis?

3- Fields of application of SWOT Analysis

4- Example: Applying the SWOT analysis to project management

The Essential Crucial Phase

My daughter, who left for Shanghai in China, told me about the Chinese method of project management, she explained to me that the Chinese spend a lot of time analyzing, thinking, studying, and lot. less time to complete.

The reflection phase is indeed long and the action phase very fast. It’s a flat curve that takes off sharply.

Here, many managers and project leaders ignore the preliminary reflection phase and this is one of the causes of project failure.

So, even if it may seem overwhelming or a slowing down factor, know that it is not a waste of time to reflect on your strengths, budget, to plan your project before you start it.

What is SWOT Analysis?

Do you know the SWOT matrix (Strengths | Weaknesses | Opportunities | Threats?

A SWOT analysis is a structured reflection and assessment tool used to identify internal factors: your strengths and weaknesses, along with external factors: your opportunities and threats.

Internal factors of SWOT analysis

The SWOT matrix is ​​concerned with two types of factors:

Strength

Weaknesses

External factors of the SWOT analysis

Opportunities

Threats

Fields of Application of SWOT Analysis

Originally, SWOT analysis was a tool for business strategy. You can then use it before you start a business, to assess and grow your current business or before launching a new product, or to improve a system or process.

I applied for the first time a few months spent in Geneva, Switzerland. Where we analyzed a new business being created according to the SWOT matrix. And present the strengths and weaknesses of the business on the one hand and the opportunities and threats of the markets in which this company operates.

However, you can use SWOT analysis in all situations that require decision-making.

In addition to the strategic positioning and evolution of a business, you can use it to develop a communication or marketing strategy, or on a personal level to progress or change careers and improve your financial health.

SWOT Analysis can also be used in project management.

Example: Applying the SWOT analysis to project management.

The SWOT model can be very well adapted to the management of your project in its upstream phase.

For this, it is necessary to determine:

The internal strengths you have to succeed in this project in terms of internal resources, budget, and material, what are the weaknesses in terms of shortage of resources, budget, and material.

External opportunities that arise (a favorable legislative environment, appropriate subsidies, a new partnership, etc.) and external threats (a competitor more advanced in the launch of the service which is taking market share, unfavorable legislative environment, etc.)

Think about how to turn weaknesses into strengths and threats into opportunities as much as possible.

This can, for example, involves adequate communication of the future benefits of this project to those initially hostile.

Preparation of the SWOT Analysis

To succeed in the SWOT analysis, start by asking yourself the objective (s) to be achieved:

What are the products and/or services that will be implemented by my project?

Who will be the Customers/users of these products and/or services and how will they be used?

The questions to ask by yourself now are:

Which segment of people will use my project?

What need (s) will it meet?

Who will use my project?

One of the essential strengths is your motivation.

It is important to question the ethics of the project on which we are about to manage.

Learn More about Project Management

Are we in agreement with ourselves?

No need to accept every project if the goals are not consistent with our personal ethics because we are not going to be motivated to manage it.

In the event that the project stems from an idea we originated from, the problem of initial motivation does not arise.

In particular, for the business creator, he is generally in accordance with his own choices and therefore initiator, an engine of his own projects, and a motivating force.

A Prerequisite: Feasibility of the Project:

Let’s say that we approve the objectives of the project and that therefore the initial motivation is there. You still have to keep your feet on the ground, think about the feasibility of the project.

Do I have the skills or the possibility of surrounding myself with skills to complete this project, will I have enough budget or the possibility of obtaining it, and is this challenge within my reach?

Once these doubts arose, let’s get to the heart of the matter.

SWOT Opportunities and Threats

How to achieve the objective (s) of my project?

What are the opportunities and threats of my project?

Who will be the stakeholders favorable and unfavorable to my project?

How to circumvent the threats?

More information on stakeholder management strategies for a project:

We enter the part of the opportunities and threats or even external factors that will influence your project.

Think about human opportunities. Think about the people who can come into play without working directly on your project, they are stakeholders in your project.

These are the living opportunities for the success of your project. These actors can be, for example, department managers because you are going to call on a few people from their team part-time;

They can be the future sponsors of the project even if of course you will owe them accounts by telling them about the progress and monitoring of the project, etc…

Think about legislative opportunities. Your project may be part of a specific process, such as innovation, such as environmental protection, and which entitles you to grants.

Inquire!

Identify all the people who could benefit from your project and benefit from it.

These people can become allies, contributors to the success of your project.

Likewise, identify your project’s threats, or risks. Think in particular of all the people initially hostile to your project and work as much as possible to present to these people the benefits for them of this project in the long term.

If the threat to your project is a lack of money, it could hamper the launch of your project.

If you can’t get a bank loan or a grant, consider checking out Crowdfunding sites such as Kickstarter provided your project falls within the scope of fundable projects.

These sites offer the possibility of finding funding from individuals who support your project.

You can end up with a SWOT matrix:

Now you have all the elements for a successful SWOT analysis.

And have you taken the time before getting on the execution of your project, to think about the objectives of your project, to analyze the strengths and weaknesses at the start? Have you identified the opportunities, who will be your allies for the success of your project, and the blocking factors?

Leave your comment, let us know your feedback…

Need Help or Advice in Content Management:

Do you want more advice? Do you have good practices to share? Express yourself in the comments

Do you want any help to write content and drive more traffic and boost conversions; get in touch through Contact our team?

Read More:

PESTLE Analysis of Apple | Apple Pestle Analysis

PESTLE Analysis of Nike | Nike PESTLE

SWOT Analysis of Lego 2021 | The Toy Company

November 10, 2021 4 comments
0 FacebookTwitterPinterestEmail
Evolution of Technology
BusinessManagementTrending

Commissioning and Evolution of Technology

by Shamsul September 16, 2019

Commissioning plays a major role in the execution of projects. Manager while executing the project activities tries to ensure that the standard procedures are followed beforehand. Once the commissioning role is over, the manager handover the project to the client.

Technology acts as a catalyst and integrates the process of commissioning. It makes the commissioning better, simpler and easier to perform.

Managers constantly learn and teach the juniors on commissioning techniques using technology. It evolves continuously and their changes cannot circumvent. If avoided, it will leave the process behind.

This piece of writing tries to deal with the development of commissioning and its technology. In this context, the future of commissioning will also be analyzed.

Traditional Commissioning Technology

Previously, the managers of commissioning had to engage with a huge amount of documentation. Most of the checklists prepared on hardbound copies or files. It was difficult to carry out on the job sites.

In the process of evaluation, the devices which employed stood inadequate. It also reflected a comparatively low level of precision relative to what we have as of now. In addition, earlier, examining and preparing a detailed report on the project used to take much more time.

With the passage of time, technologies have transformed the commissioning sector swiftly. Project Managers with years of experience find it simpler than ever to handle projects by using this innovation. In the present time, the construction industry has been evolved into a unique sector having distinct features because of the innovation. Therefore, managers are thankful for technology.

present-technology

Present Technology of Commissioning

The fresh young graduates after becoming managers who are knowledgeable and skilled try to absorb technology easily in order to make their work simpler and effective. Meanwhile, the old and long experienced ones left with the single option of changing themselves to accept the upcoming fresh technological advances.

Usage of various software and apps helps in planning and organizing the work that took an upper hand in this sector. Unlike earlier, now the project managers can travel and move around with their smartphones and the information/data is on their fingertips. The data including reports, checklists, reminders and timelines aids in the preparation of presentations even by using a smartphone and projector, etc. Furthermore, laptops have also eased their job.

With the evolution of technology, it has reduced the gap in the field of commissioning. At present, the humankind demand for new innovations along with the huge amount of information. Technology has helped them in verifying the quality and genuineness easily. The timeline has come down with the technology to show output even without compromising the quality of the project.

Synchronization is another feature facilitated by different activities for different groups after finishing the project.

commissioning

The Future of Commissioning Technology

Project Managers and innovators of technology are working hand in hand for innovating more and more fresh ideas to make the work easier. For that, scientists create new apps and software with specific roles.

The better apps are mostly more instinctual to use and help in connecting with all stakeholders. For instance, the use of smart cameras is to observe the issues and fault areas that need significant corrections are about to launch in the market. These measures help people in making logical and sensible decisions.

Even today, commissioning stands as the supreme level of engagement in any project. And developments of new technologies have assisted it significantly. Leaving behind any sector from the purview of technology is out of the question. Therefore, let’s anticipate for a quick, smart and more efficient future.

September 16, 2019 6 comments
0 FacebookTwitterPinterestEmail

About

About

About Wiselancer

Our resources are tailored according to the needs and demands of today. Wiselancer offers an extensive treasure of knowledge-based contents and articles that shed light on a variety of different subjects and topics.

Recent Posts

  • 20 Richest Actresses in the World

    May 16, 2022
  • 25 Hottest Celebs in the World

    May 14, 2022
  • 10 Most Beautiful Actresses (Turkish)

    May 13, 2022
  • 10 Most Popular Actresses in their 50s

    May 13, 2022
  • 10 Most Charming Transgender Women in the World

    May 12, 2022
  • How to Mitigate Money Laundering Risks?

    May 7, 2022
  • Better Tips
  • Biography
  • Business
  • Celebrities
  • Cooking & Foods
  • Coronavirus
  • Gig Economy
  • Health
  • Management
  • Marketing
  • Personal Growth
  • Romance
  • Scholarly
  • Skincare and Beauty
  • SWOT & PESTLE 
  • Top 10
  • Travel
  • Trending
  • World's Climate
  • Writing

Archives

  • May 2022 (17)
  • April 2022 (47)
  • March 2022 (62)
  • February 2022 (68)
  • January 2022 (21)
  • December 2021 (41)
  • November 2021 (34)
  • October 2021 (21)
  • September 2021 (6)
  • August 2021 (5)
  • July 2021 (14)
  • June 2021 (11)
  • May 2021 (9)
  • April 2021 (14)
  • March 2021 (12)
  • February 2021 (18)
  • January 2021 (21)
  • December 2020 (7)
  • November 2020 (9)
  • October 2020 (5)
  • September 2020 (7)
  • August 2020 (1)
  • July 2020 (5)
  • June 2020 (10)
  • May 2020 (7)
  • April 2020 (12)
  • March 2020 (15)
  • February 2020 (5)
  • January 2020 (24)
  • December 2019 (13)
  • November 2019 (10)
  • October 2019 (22)
  • September 2019 (18)
  • January 2016 (9)

@2021 - All Right Reserved.


Back To Top
WiseLancer
  • Home
  • About
  • Marketing
  • Management
  • Business
  • SWOT & PESTLE 
  • Health
  • Travel
  • Romance
  • Cooking & Foods