Best Practices For Planning, Executing, and Closing a Project

Managing a project can be daunting, especially without project management certifications. Even certified individuals may need more experience. This article covers essential project management concepts such as project scope, project process, and Critical Path Method to help you manage your project successfully from start to finish. Everyone can benefit from knowing these concepts, not just professional project managers, to achieve project goals more quickly.

What is the project management process?

While projects can be complex, they all follow a similar project management process, although the specific processes may vary by industry or project. Read on for some helpful tips.

1. Project concept and initiation

To begin the project management process, the first step is to solidify your project ideas and initiate the process based on your idea. This phase may start with a simple pen and paper to outline your project’s requirements. It is recommended to conduct research on the project, take note of essential aspects, and obtain approval from stakeholders. This is the stage where you create a project charter that outlines the project’s overall objectives, scope, and team management.

2. Project definition and planning

This stage of the project process involves defining the project plan and outlining all the necessary tasks. You must address your project’s what, who, where, how, and when. The success of your project is heavily reliant on project planning, and better planning leads to better outcomes. While the project budget, schedule, and resource management can be adjusted during the project execution, it is still essential to establish them at this stage. Planning everything is a good practice. Professional project managers emphasize the significance of project planning in determining a project’s success.

 3. Project execution and delivery

At the onset of your project, you will assemble the required resources and commence working on the tasks assigned to you. Communication, team management, quality, and project deliverables must be managed at this stage. Holding a project kick-off meeting is a good idea to set the project’s pace and discuss tasks, timelines, and other variations with your team.

4. Monitoring and controlling project performance

Continuing with the project management process, it is essential to regularly monitor and ensure adherence to the project plan to prevent scope creep. This involves tracking progress and comparing it against predetermined targets set during the planning stage. Key performance indicators (KPIs) should be established and closely monitored throughout the project timeline to achieve the expected objectives.

5. Project Closing and Evaluation

During this phase, it is essential to complete your project after achieving its objectives. If you are satisfied with the project results, you can proceed to the next one. If you still need to, you should focus on improving the outcomes and accomplishing your project goals. In the project closure phase, you will assess the delivery of your project using KPI indexes to determine if the objectives have been achieved. Quality, speed, accuracy, and deliverability are the criteria that will be used to assess the project. It is suggested that you evaluate your project team’s abilities once the project has been evaluated as successful. Furthermore, you may decide how to work towards achieving better outcomes in your next project.

10 tips on how to manage a project in detail

  1. Define your project goals and objectives: It’s important to have a clear understanding of your desired project outcomes before beginning. Define your project goals and objectives and ensure they are SMART (Specific, Measurable, Achievable, Relevant, and Time-bound).
  2. Develop a project plan: Create a comprehensive project blueprint that defines the project’s objectives, schedule, expenses, and necessary resources to meet those objectives. It is crucial to update the project plan regularly as the project progresses to ensure that it stays up to date and reflects any modifications that may take place.
  3. Communicate effectively: Effective communication is essential for project success. Create a plan for communication that specifies the stakeholders, frequency, and communication channels involved in the project.
  4. Manage project risks: Identify potential risks impacting the project and develop a risk management plan to mitigate them. Regularly monitor and update the risk management plan throughout the project lifecycle.
  5. Manage project budget: Develop a budget that outlines the costs involved and ensures that it is managed effectively throughout the project lifecycle. Regularly monitor and update the budget to ensure the project remains on track.
  6. Track project progress: Consistently monitor the project’s advancement against the project plan and revise the plan as needed to ensure that the project stays on course. Use project management tools and software to track progress and identify potential issues.
  7. Manage project scope: Ensure the project stays within the defined scope and avoid scope creep. Regularly review the project scope and adjust it as necessary to keep it on track.
  8. Manage project resources: Manage them effectively to ensure they are used efficiently and effectively. Identify the resources required for the project and ensure they are allocated effectively throughout its lifecycle.
  9. Monitor project quality: Monitor project quality throughout the project lifecycle to ensure the project meets the required standards. Develop a quality management plan and ensure it is followed throughout the project.
  10. Evaluate project success: Evaluate the project’s success against the project goals and objectives. Find areas where improvements can be made and use this knowledge to enhance the project management process in upcoming projects. Celebrate successes and share lessons learned with your team and stakeholders.

Author Bio: Mark Edmonds is a renowned assignment writer at Academic Assignments, specializing in project management. He holds a Master’s degree in Business Administration focusing on Project Management. With over 10 years of experience in the field, he has gained extensive knowledge and expertise in planning, executing, and closing projects. His exceptional writing skills and ability to provide students with the best quality project assignment help have made him one of the most sought-after assignment writers in the industry.