What is Project Management Life Cycle?
Project Management Life Cycle (PMLC) is a series of stages that a project goes through from conception to closure. PMLC is an organized and systematic approach to planning, executing, and closing projects in order to meet business objectives and customer requirements. The purpose of PMLC is to provide a framework for project management that allows organizations to deliver projects successfully and on time, within budget, and with high-quality outcomes.
Stages of PMLC
PMLC consists of five distinct stages that every project must go through in order to be successful: initiation, planning, execution, monitoring and control, and closure.
Initiation
The initiation stage is the first stage of PMLC, where a project is defined, and the scope and objectives of the project are established. This stage is critical to the success of the project, as it sets the foundation for the entire project. In this stage, a project manager must identify the business objectives, define the project scope, and determine the feasibility of the project.
Planning
Once the project has been initiated, the next stage is planning, where the project manager will develop a detailed project plan. This stage involves defining project tasks, identifying project team members, developing a schedule, and determining the budget. The project manager will also identify project risks and develop a risk management plan.
Execution
The execution stage is where the project manager will carry out the project plan. In this stage, the project manager will lead the project team to complete project tasks, monitor project progress, and ensure that the project stays on track. The execution stage is the longest stage of PMLC and requires the project manager to be highly organized and communicative to ensure project success.
Monitoring and Control
The monitoring and control stage is where the project manager will track project progress and make adjustments as necessary. This stage involves regular project status updates, risk management, and quality control. The project manager will also identify any issues or problems that arise during the project and take action to resolve them.
Closure
The closure stage is the final stage of PMLC, where the project is completed, and all project tasks are completed. In this stage, the project manager will conduct a final review of the project, close out any remaining project activities, and document the project results. The closure stage is also where the project manager will conduct a lessons learned analysis to identify areas for improvement for future projects.
PMLC Tools and Techniques
There are several tools and techniques that project managers can use to support the PMLC process, including:
- Gantt chart
- Online Gantt chart
- GanttPRO
- Microsoft Project
Gantt charts are useful tools that project managers can use to visualize project schedules and track project progress. An online Gantt chart is a cloud-based tool that project managers can use to collaborate with project team members and stakeholders in real-time. GanttPRO and Microsoft Project are powerful project management software that offer advanced features for project management, including resource management, cost tracking, and project portfolio management.
Conclusion
The Project Management Life Cycle is a critical aspect of project management, and it is essential for project managers to understand the stages of PMLC in order to deliver projects successfully. PMLC provides a structured and systematic approach to project management, and it helps project managers to plan, execute, and control projects effectively. By using PMLC tools and techniques, project managers can ensure that projects are delivered on time, within budget, and with high-quality outcomes.
Hermione Barela Ybarra
Hermione Barela Ybarra is an accomplished project manager from the United States who has worked for several prestigious organizations throughout her career. She was born in Bogotá, Colombia, and moved to the US with her family when she was a child. She grew up in the suburbs of Miami, Florida and attended the University of Florida, where she earned her bachelor's degree in business administration. After graduation, Hermione started her career in project management at a small consulting firm in Miami. It was there that she discovered her passion for managing complex projects, and she quickly moved up the ranks to become a project manager for the firm. Hermione's strong leadership skills and attention to detail helped her excel in this role. From there, Hermione went on to work for several other consulting firms, including Accenture and KPMG. Her skills in project management continued to impress her colleagues and clients alike, and she soon gained a reputation as one of the top project managers in the consulting industry. Hermione has also worked in the nonprofit sector, serving as a project manager for a large global health organization. In this role, she managed the implementation of a new program aimed at reducing maternal mortality rates in low-income countries. Her exceptional communication skills and ability to work with diverse stakeholders were critical to the program's success. Hermione currently works as a project manager for a leading technology company in San Francisco, where she manages the development and launch of new software products. She is known for her ability to manage large-scale projects and for her expertise in Agile project management methodologies.