What Are The 5 Stages Of Project Management?

Getting a project off the ground requires a system of processes and talented individuals to get the work done. In basic terms, it’s no simple feat!

Relying on video conferencing to collaborate with multiple teams and individuals requires organization and efficient project management implementation across various offices, departments and chains of command. Cohesion, communication and centralization are key factors. Whoever you’re dealing with, be that a stakeholder, client or employee, there are many moving parts to take into consideration from conception to delivery.

Any and every project requires comprehensive knowledge about the project life cycle. Knowing how each phase functions provides valuable insights about how to approach it. But how does video conferencing work to empower your process? Let’s take a look through the framework of the 5 stages of project management.

It’s the project manager’s responsibility to know, plan and build the “lift-off” of the project by having a thorough understanding of the five project management steps. This works to provide a clear and concise blueprint for how the idea will go from abstract to concrete. Developed by the Project Management Institute (PMI), the 5 phases for any project to be realized are as follows:

1. Initiation
The first of the life cycle phase, the initiation requires a kick-off meeting that loops in the client and investors. This is where the goals, objectives, doubts, concerns and any initial thoughts and ideas are discussed. When decision-makers aren’t located in just one spot, you can rely on setting up an online meeting for a video chat or conference call to discuss the following talking points:

• Who are the investors and stakeholders?
• What is the business vision and mission?
• What’s the estimated timeline?
• What are some of the risks involved?
• What budget and resources are available?

2. Planning
Once the objectives have been laid out and agreed upon, a clearer idea of the final result can be better understood. Working backwards to visualize and formulate a set of plans for everyone to follow guides the team from the initiation phase towards completion.

Conduct online meetings to:

• Assemble teams
• Transmit essential details
• Establish project goals and objectives

The planning phase is critical for drilling down the following 5 components:

• Designing a project structure
• Creating workflow documents
• Estimating budgets across departments
• Gathering, allocating and designating resources
• Risk assessment

3. Execution
Team leaders and project managers are put into motion to build deliverables, be the go-between for clients, accomplish tasks, implement processes and more. Direct communication across all parts of the project are necessary and vital to the success of bringing the idea to life. Incorporating collaboration tools can facilitate this communication, ensuring seamless coordination and information sharing among team members.

Essential to the execution phase:

• Frequent Meetings
  Staying on top of teams with scheduled online meetings helps to keep the project on brief and on track. Timely and crystal clear communication via video conferencing or conference calling ensures fewer blind spots, better teamwork and expedited movement of items in the pipeline.
• Transparency
  Avoid potential blocks when it comes to easily preventable obstacles like scheduling, hiring, inviting participants to meetings, and establishing who’s responsible for which task by integrating other digital tools like Slack, Outlook and Google Calendar into your video conferencing platform.
• Conflict Management
  Problems are bound to occur. Mitigate occurrences by inviting those on the “frontlines” teams to speak up and voice concerns, bottlenecks or anything that could potentially pose a weakness in the chain.
• Progress Reports
  Regular updates shared during a standup meeting, huddle session or video chat works to stay ahead of the curve and identify issues before they happen.

4. Monitoring and Control
If you can’t measure it, you can’t manage it. This phase requires checking to make sure everything is aligning with what was agreed on previously. What are the key performance indicators? What needs to get implemented to meet deadlines and financial parameters?

Hold online meetings with key players for routine checkpoints, reviews and performance reports. You can conduct remote presentations via video conferencing that include workflows, important documents and files, and anything that needs to be shared and disseminated. Where you need to gain more insight into the team's day to day activities, and especially when they are not working in office - that's where you may need to use a software to monitor employees working from home. Not only for productivity reasons, but also because the analytics could help identify process bottlenecks, or the team using outdated apps.

5. Closure
Closing up the project is just as important as beginning it. Also referred to as the “follow-up” phase, it’s around this time when the completed project is ready to go live to the public. The main focus here is on product release and delivery.

It’s critical for a project manager to assess the project’s life span from start to finish by:

1. Investigating Project Performance
   Did every team hit their goals and markers? Was the project accomplished within budget and time lines? Did the project solve a problem? Addressing these questions and more help to assess whether or not the project was successful.
2. Looking At Team Performance
   The performance of team members can be further drilled down individually to assess success within the group. Quality checks, KPIs, and online meetings work to provide clearer insight into performance.
3. Assessing And Documenting Project Closure
   A thorough presentation compiling supporting documents that showcase the project’s growth from conception to delivery ensures proper completion for clients and stakeholders.
4. Requesting Reviews
   A final evaluation of the project provides a closer look at strengths and weaknesses, from the beginning to the end. Find insights and learn lessons for next time.
5. Going Over Budget
   Being able to pinpoint budget loss as well as untouched resources provides a better understanding of success (or failure), and helps to manage wastage.

Some online meeting talking points include:

• What were the project takeaways?
• What are the opportunities for growth? Improvement
• What were some of the strengths and weaknesses exhibited through the process?

Let FreeConference.com provide your company with the clear and effective project management video conferencing platform necessary to create cohesion and centralization for all aspects of project management. With a wide offering of features, easy integrations and high-quality video and audio capabilities, you can expect your project to be thoroughly communicated and collaborated on.