Project Management Process

Project management is a wide area of management that mainly focuses on organizing, planning, and executing projects and delivering them to clients on time. This vast area of management can be broken down into smaller stages that begin with initiating the project and end with the successful completion of the tasks. The five crucial steps of the project management process are:

1. Project Initiation

The initial stage in the project life cycle, the project initiation process, involves the research required to begin a project. Initiation is the key stage of every project because it involves understanding major stakeholders, analyzing resources, establishing an objective, and setting up the goals that will be followed. The initiation stage is the most vital stage of project management as it involves key decisions and research that eventually lead to a final decision.

2. Project Planning

The second stage is all about planning. How the project will be executed, what time will be taken for project completion, what will be the goals and objectives, what deadlines the project teams will follow, and hows and whys to decide. Planning is essential in project management because it helps organize tasks, determine the challenges, evaluate deadlines, and lead toward the execution and closure of the project.

3. Project Execution

The third stage is where the planning is put into action. Project managers explain the tasks to the project teams, and the members begin to work on the assigned tasks while keeping in mind the guidelines, objectives, and deadlines. This is also the stage where the project scope has been approved, and the stakeholders have been identified.

4. Project Monitoring and Control

This is the stage where project managers keep track of the work that has been assigned to project teams. The manager also evaluates the project performance and creates reports, and ensures the deadlines are met. After reviewing the status from project teams, the managers finally move towards the last stage, which is, delivering the complete projects to clients on time.

5. Project Closure

The last stage very obviously concerns the project deliverables. A project manager analyzes the completed project and delivers them to the client. This results in the closure of a project and marks the end of a project lifecycle.

What Types of Project Management Exist?

There are multiple types of project management that one needs to be aware of. Generally, the types of project management that are incorporated frequently in day-to-day operations of an organization include:

Waterfall Project Management

The most straightforward way of managing a project, waterfall project management includes a clearly defined sequence that is implemented for completing tasks. This management approach is implemented into project phases to follow a linear process from the beginning to the end. This management approach helps managers in designing a sequential project plan and manage projects accordingly.

Agile Project Management

APM or Agile Project Management is the most efficient and flexible model of management. This helps in breaking down projects into bits or several phases. APM is considered the most interactive and effective approach for managing the software development process.

Scrum Project Management

A type of management that is more focused on feedback and interaction, Scrum project management involves brief communications among team members and clients. Interaction here is the key to the completion of the project; therefore, the clients play an integral role in project development.

Lean Project Management (or Lean Manufacturing)

This type of project management incorporates lean principles and techniques. In other words, lean project management follows the pathway of lean manufacturing, that is, manufacturing a project with less waste and more value.

Kanban Method

A popular framework for project management, the Kanban method that emphasizes in limiting WIP or work-in-progress and visualizing work to maintain a continuous workflow. The Kanban method is widely accepted in project management and software development and was originally introduced by Toyota Production System.

Six Sigma

A project management method that is more focused on the requirements of customers, Six Sigma is widely accepted for reducing errors, and waste, and enhancing processes and efficiency. This management method ensures the customer satisfaction is increased.

Critical Path Method (CPM)

A type of management analysis, CPM or the Critical Path Method is the most appropriate way for project managers to create an appropriate schedule. This method helps in easily identifying the tasks that need to be prioritized and the ones that require re-scheduling. This management method also helps in identifying the longest sequence of dependent tasks.

Critical Chain Project Management

This project management methodology focuses on managing project schedules and resources to maximize efficiency and also improve the time of project completion. This methodology uses the process of critical chain, which helps create and identify the longest chain of dependent tasks.

PRINCE2

This methodology follows a project-based approach and is most effective in organizing and controlling projects.

What Are the Key Project Management Roles?

Project management is not limited to a single responsibility; it involves several roles and responsibilities; therefore, project managers play a very important role in an organization. Some key roles and responsibilities of project management are as follows:

Creating a project plan and organizing work accordingly.
Setting a guideline that project team members will follow.
Identifying the project objectives and setting a goal for the project.
Leading project teams and explained to them the needs of the project.
Setting deadlines and ensuring the projects get completed on time and delivered to clients successfully.
Decoding complex projects and making it simple for team members to understand and work on them.
Dealing with project risks and bringing solutions.
Motivating team members to deliver their best.
Evaluating project budget.
Communicating with clients and managing projects according to their needs.

How to Start a Project Management Career

Anyone with leadership, management, communication, and time management skills can easily become a successful project manager. To start a successful project management career, one must follow the steps that lead to career development and success.

Earn a bachelor’s, master’s or equivalent degree in management, business, and other similar fields.
Pursuing a diploma or a post-graduate course that focuses on ct management methodologies.
Developing skills that are mandatory in a project manager’s day-to-day role.
Gaining experience through internships.
Finding an ideal project manager role to build a successful career finally.

How Much Does a Project Manager Make?

A project manager enjoys a lucrative career as this position is always in high demand. Project managers can work in every field that requires experts to manage projects and teams. In India, various surveys say that the average annual salary of a skilled project manager is somewhere between INR 12 lakhs to 15 lakhs. The starting salary of a project manager can be between 4 to 5 lakhs per annum.

What Skills Are Needed to Succeed In Project Management?

To succeed in the field of project management and become a skilled project manager who prioritizes organizational growth and success, many skills are required. Some of the key skills that are needed to handle day-to-day management successfully include:

Technical skills
Soft skills like communication and problem-solving
Leadership or people management skills
Time management
Critical thinking
Organizational skills
Collaboration skills
Management skills and familiarity with the management processes
Ability to work under pressure
Familiar with management tools and techniques
Software skills

Trending now

Best Project Management Companies of the Year

Project Director Job Description: Roles & Career Path

How to Pass the PMP Exam? 5-week Study Guide

Learn How to Create a Project Plan in Excel

Essential Guide to the MSP Certification

What Is Project Management?

Feasibility Study and Its Importance in Project Management

Understanding Henri Fayol's 14 Principles of Management and How to Use Them Effectively

PMP Certification Requirements: Elevate Your Career with PMP

Financial Risk and Its Types

How I failed my PMP

About the On-Demand Webinar

Hosted By

Recommended Programs

Find PMP® Certification Training in these cities

Recommended Resources