PRICING PLANS

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A successful initiation increases the chances of a project’s success. Project initiation is the first step in a project lifecycle and involves building a strong business case. The business case is a document that explains the need for the project, its scope, and its vision to the team. A detailed business plan also helps in soliciting funding for the project.

The difference between a successful and an unsuccessful project depends on how good, or how bad, the plan is. To ensure you have a good plan, this phase is essential.

In this phase, a project plan document, or a set of documents, is created. The project plan explains what the project team will do and how they will do it. It lists all the processes (financial, quality, project development, etc.) required for the project to be successful.

This phase is the longest in a project lifecycle and requires putting into action the project plans you made in the earlier stage. In this stage, the deliverables are constructed and presented to the clients. During the project execution stage, a project manager would be involved in managing the people, processes, and communication.

This phase is about measuring project progression and performance to ensure that the project is going as planned. Project managers can review and track progress at any time during a project to make adjustments to the plan, so that things runs smoothly.

This phase indicates that the project has been completed. It’s the final stage that involves a postmortem and follow-up. A project manager identifies the strengths and weakness of the project in terms of the time taken, processes followed, and resources used in this phase. The weaknesses are assessed so that project managers can develop strategies to overcome them.