Guide to Project Management Methodologies, Lifecycles and Processes

Explained: Project Management Processes
Every project requires a set of steps in order to build a structure, launch an app, or launch marketing campaigns. These project management steps are consistent no matter what field or product is being delivered. What are the purpose and contents of these process management practices?
Five Project Management Processes
Guide to the Project Management Body of Knowledge (PMBOK guide) breaks down project management into five phases, which are known as “process groups”. These are the most common project management processes.
* The beginning: This phase is where projects are conceptualized and the feasibility of the project assessed. The SME Toolkit outlines that this phase includes the following tasks: Identifying the project’s goal, scope, and most important participants; identifying project managers and key players; identifying risks; and creating estimates of budget, time, and other costs.
* Plan: Next, the project manager will create a plan that will guide the project from conception to completion. This blueprint will outline the project’s scope, the resources required to produce the deliverables and estimated time and financial commitments. It also includes a communication strategy to ensure all stakeholders are kept informed about the execution plan and ongoing maintenance plans. The document is an essential part of your pitch if the project has not been approved yet. This document is an essential part of the project planning process.
* The project manager will oversee the procurement and staffing of the team. Effective leadership in the field is key to achieving the project’s goals. PMs are responsible for delegating and supervising tasks. They also have to maintain good relations with the team members and keep the project within budget and timeframe. The PM must be a great leader and highly organized. This is because they will have to resolve team problems and other issues that arise during their work. This requires clear communication with other stakeholders. This is an important part of project planning as it is crucial to plan for execution.
* Monitoring and Control: Project managers can closely monitor the progress of the project to ensure it is developing in a proper way. Documentation can be used, including data collection and written status reports. Planning projects is closely linked to monitoring and controlling. Planning is what determines the scope of work. SME Toolkit explains that monitoring and controlling will determine how well it was done. “Monitoring will show any necessary corrections or changes to your project to ensure that it is moving in the right direction.”
* Closing: This group occurs after the project deliverables have been created and all project stakeholders have accepted and validated them. This phase is where the project manager must terminate contracts with suppliers, contractors, and third-party providers. The final report will be created and archived. The final part of the project plan, which is the plan for troubleshooting maintenance and repair, will also be implemented. These are the main components of project management processes.
What is the Project Life Cycle?
The Life Cycle of Projects is a four step process that almost all project managers follow when they go through the phases of a project’s completion.
This is the typical project cycle that most people are familiar with. These steps provide a framework for managing all types of projects within a company. To find the best way to manage projects, project managers have done research. A company that provides services must follow a life cycle. The most successful way for teams to succeed in projects is to follow the Life Cycle.
Because the typical project life cycle doesn’t meet everyone’s needs, the professional Services Life Cycle was created. Although not well-known, this process is growing in popularity. Some project managers can use the typical life cycle of projects, but professional services require a more detailed process. Professional services are not like other businesses. Their primary product is their staff. Professional services can offer their expertise to other businesses in order to make a profit. Professional services are made possible by the involvement of customers.