Project management means the application of processes, methods, skills, knowledge and experience to achieve specific project objectives according to the project acceptance criteria within agreed parameters. Project management has final deliverables that are constrained to a finite timescale and budget. The project management process consists of five steps or phases that all projects must go through: initiation, planning, execution, monitoring and control and closure. These project management phases are also known as process groups, the project management cycle or the project lifecycle.
1. Project selection: this is where the evaluation of project ideas to help decide which project has the highest priority. It’s an important part of project portfolio management (PPM), which is a process used by project management organizations (PMOs) and project managers to analyze the potential return on undertaking a project
2. Project Initiation: This is the first step in project management, where the idea for a project is developed and the decision to proceed with it is made. This includes identifying the project objectives, stakeholders, and any potential risks or constraints.
3. Project Planning: In this step, a detailed plan is created for how the project will be executed. This includes defining the scope, creating a project schedule, identifying resources needed, and developing a budget. It may also involve conducting a risk assessment and creating a communication plan.
4. Scheduling or Execution: This is when the project plan is put into action. The project team is assembled and the work is carried out according to the plan. This includes coordinating and managing resources, monitoring progress, and making any necessary adjustments.
5. Project Monitoring and Control: Throughout the project, progress is regularly monitored and compared against the planned objectives. This involves tracking project metrics, managing risks, addressing issues and changes, and ensuring that the project stays on track.
6. Completion and Closeout of Project: Once the project work is completed, it is important to formally close the project. This includes conducting a final project review, documenting lessons learned, and transitioning any deliverables to the appropriate stakeholders. It may also involve celebrating the project’s success and recognizing the contributions of team members. It is important to note that project management is an iterative process, meaning that these steps are often repeated multiple times throughout the project lifecycle to ensure its success.
The Most Popular Method of Setting Project Goals is Smart and Clear
S.M.A.R.T Project Goal
Specific:(A project needs to be specific about what it will accomplish. Unlike many organizational goals, the goal of a project should not be vague or nebulous. An organization may want to ‘make London, Ontario a great place to live’, but its projects need to focus on a specific goal. For example, a more specific goal would be to build a downtown farmers’ market. A project that is specific is one that can be clearly communicated to all team members and stakeholders. A specific project goal will answer the five ‘W’ questions:)
What do we want to accomplish? Why are we undertaking this project? Who is involved or will be affected by the project? Where will this project be conducted? Which constraints (scope, time, money, risk, etc.) have been placed on our project?
Measurable.(How will project progress and success be measured? What will be the measurable difference once our project is completed successfully? These measures should be quantifiable.)
Assignable.(Who will do the work? Can people be identified who have the expertise in the organization to complete this work? or can the expertise be hired from outside of the organization?)
Realistic. (Is it realistic that the organization can achieve this project, given its talents and resources? This is a very important consideration for businesses of all sizes. Yes, it would be great to produce a new driverless car, but is that realistic given the resources that the organization has available?)
Time-related.(When will the project be completed and how long will it take? These criteria can be very useful when defining a project. If the description for a project does not meet all these criteria, then it is time to go back to the drawing board and make sure that what is being described is really a project, rather than a program or strategic goal.)
C.L.E.A.R. Project Goals
Collaborative – The goal should encourage employees to work together.
Limited – They should be limited in scope and time (start and end) to keep it manageable.
Emotional – Goals should tap into the passion of employees and be something they can form an emotional connection to. This can optimize the quality of work.
Appreciable – Break larger goals into smaller tasks that can be quickly achieved.
Refinable – As new situations arise, be flexible and refine goals as needed.
Clear Goals provides an alternative to the SMART model of goal setting and help you create goals that are specific, meaningful, and well-defined. With CLEAR Goals, you’re able to clearly define what you’re doing, why you’re doing it, and how you plan to do it. This allows your team to focus on exactly what they need to do in order to achieve your vision and mission. And by focusing on CLEAR Goals, your business will be more innovative, efficient, successful, and better positioned for future growth.
