What Are The Seven Stages Of The Project Cycle?

Understanding The Project Cycle

The project cycle is a systematic method for managing projects from the point of commencement all the way through to the point of completion. It is structured in such a way that it consists of seven phases, each of which serves as a framework to guarantee that every component of the project is covered. The following is a rundown of each of the seven stages of the project cycle:

• Initiation: The beginning of the project can be considered to have begun at this stage. Performing this step requires determining the project's objectives, scope, stakeholders, and limitations. Examining the project's viability and how well it fits in with the organisation's overall objectives is another responsibility that falls on the shoulders of project managers.

• Planning: During this stage, you will be responsible for establishing a detailed plan for the project that defines the various risk management measures, as well as the project's timetable, budget, and scope. In addition to this, project managers are obligated to identify the project team, distribute duties, and set up lines of communication.

• Execution: At this point, you will put the strategy for the project into action, divide up the available resources, and coordinate the actions of the project team. In addition, project managers are responsible for tracking the project's progression, resolving any problems that arise, and delivering the project according to the agreed-upon timeline and spending plan.

• Monitoring and Control: During this stage, you will be responsible for monitoring the performance of the project, comparing it to the plan for the project, and making any required adjustments to ensure that the project remains on schedule. Additionally, project managers are obligated to manage project risks, assess the quality of the project, and report project progress to stakeholders.

• Review and Evaluation: During this stage, you will be responsible for doing a thorough analysis of the performance of the project, analysing the outcomes, and identifying any lessons learnt. It is also the responsibility of project managers to devise a strategy to deal with any problems that may arise and to prevent similar problems from occuring in subsequent projects.

• Reporting: At this point, it is necessary to provide stakeholders with updates on the status of the project and present them with reports detailing the project's performance. The strategy for the project, including the timeline, the budget, and the scope, must be communicated to the stakeholders by the project managers.

• Follow-up and Maintenance: At this point, the focus shifts to making certain that the positive effects of the initiative are able to be preserved and expanded over time. The project managers are responsible for resolving any difficulties that arise post-project and ensuring that the advantages of the project are realised.

It is crucial to efficient project management to have a solid understanding of the project cycle. It guarantees that all components of the project are addressed, from the beginning to the end, providing a disciplined approach to managing projects and ensuring that all aspects of the project are managed. 

Project managers are responsible for ensuring the success of their respective projects by ensuring that each stage of the project cycle is followed and that the necessary tools and techniques for project management are applied.

Stage One: Project Initiation

Defining the project's purpose aims, and objectives, as well as its scope, is part of the first step of the project cycle, which is also known as "project initiation." This stage is essential because it lays the groundwork for the successful completion of the project. The following are the primary stages involved at the beginning of a project:

• Define the Project Scope: This entails determining what the project's goals are, what the project's boundaries are, and what aspects of the project will not be included. It is important to record the project scope and convey it to the stakeholders in order to guarantee that everyone has a similar knowledge of the project's aims and objectives.

• Conduct a Feasibility Study: This entails determining whether or not the project is feasible by taking into account the many aspects—including economics, law, society, and the environment—that may have an impact on the accomplishment of the project's goals. Project managers can use a feasibility study to decide whether or not the project is one that should be pursued and whether or not it is in line with the aims of the organisation.

• Identify Stakeholders: This involves identifying all individuals, groups, or organisations that are impacted by the project or can influence its success. Stakeholders may include customers, suppliers, employees, shareholders, regulators, and the community. Project managers must communicate with stakeholders throughout the project lifecycle to meet their needs and expectations.

• Develop a Project Charter: A project charter is a formal document that outlines the project's purpose, goals, objectives, scope, and stakeholders. It also includes the project manager's authority, the project team's roles and responsibilities, and the project's high-level schedule and budget.

• Form the Project Team: During this stage, you will need to determine the resources necessary to finish the project and assemble a project team with the requisite skills and experience. It is important that the project team be made up of people who are able to collaborate well in order to accomplish the project's objectives.

• Establish Project Governance: This entails the process of designing the governance structure of the project, which includes the manner in which decisions will be taken, the management of issues and risks, and the facilitation of communication. The documentation of the governance structure should be included in the project charter, and stakeholders should be informed of its existence.

Stage Two: Project Planning

The second stage of the project life cycle is called "project planning," and it entails developing a strategy for completing the project. This stage is extremely important because it enables project managers to develop a comprehensive strategy for achieving the goals and objectives of the project. The following are the primary stages involved in the planning of a project:

• Define Project Tasks and Deliverables: This involves breaking down the project scope into smaller, manageable tasks and identifying the deliverables for each task. The project tasks and deliverables should be documented in a project plan to provide a clear understanding of what needs to be accomplished.

• Determine Resource Requirements: This involves identifying the resources required to complete each task, including personnel, equipment, and materials. Project managers must ensure that the resources are available when needed and that they are used efficiently to avoid delays or cost overruns.

• Develop a Project Schedule: Creating a timetable for the project's activities and deliverables while considering any dependencies or limitations is one of the steps in this process. In addition to being presented to the project team and stakeholders, the project schedule needs to be plausible and doable in order to be considered successful.

• Create a Budget: This involves estimating the costs associated with each task and deliverable and developing a budget for the project. The budget should include all costs, such as personnel, equipment, materials, and overhead, and should be monitored throughout the project lifecycle to ensure that costs are managed effectively.

• Identify Risks: This entails identifying possible hazards that might impact the project's outcome and establishing a plan to either minimise those risks or prevent them altogether. Project managers are obligated to have a contingency plan ready to implement in the event that any of the following types of risks materialise: technical, environmental, legal, or financial concerns.

• Develop Quality Standards: This entails determining the quality standards that will be applied to the project deliverables and ensuring that these standards will be adhered to throughout the project's lifespan. The requirements for performance, dependability, and safety that make up quality standards need to be stated in the plan for the project.

For a project to be successful, efficient project planning is very necessary. It ensures that the project team members have a common idea of what has to be completed while also assisting project managers in establishing a distinct road map for the project. 

Stage Three: Project Execution

The third stage of the project life cycle is called "project execution," and its primary objective is to put the project plan into action. Because this is the phase of the project in which the bulk of the work is carried out, it is essential that the project team maintains its concentration and works as effectively as possible to accomplish the project's goals. The following are the primary stages involved in the execution of a project:

• Assign Tasks: This entails making assignments to members of the team depending on the knowledge and expertise they bring to the table. The project manager is responsible for ensuring that each team member is aware of their duties and responsibilities and that they have access to the resources necessary to do their work.

• Communicate with Stakeholders: Keeping stakeholders up to date on the project's development and any problems that may occur is part of this responsibility. Project managers are responsible for maintaining open lines of communication with all of the project's stakeholders and ensuring that those individuals have an accurate grasp of the project's objectives, timeframe, and budget.

• Monitor Progress: This entails keeping a record of the progress made on the project and comparing it to the original plan while also making any required revisions. For the purpose of ensuring that the project remains on track, the project manager is responsible for keeping track of the project's budget, timetable, and quality.

• Manage Risks: This involves monitoring and addressing risks that arise during the project execution phase. The project manager should have the plan to address potential risks and work with the team to mitigate or avoid them.

• Manage Changes: Managing changes to the project's scope, timeline, or budget is part of this responsibility. Before making any modifications, the project manager is responsible for ensuring that any changes are both recorded and agreed upon by all relevant stakeholders.

• Maintain Quality Standards: This entails checking to see that the project's final products are up to the quality criteria established in the project plan. The manager of the project is responsible for overseeing quality control and resolving any problems that crop up.

Stage Four: Project Monitoring And Control

The fourth stage of the project cycle is called project monitoring and control, and it entails tracking the progress of the project and making modifications to ensure that the project continues on its intended path. 

Identifying and resolving any problems that could surface later on in the project's execution phase falls squarely within the purview of this stage. The following are the primary stages included in the process of project monitoring and control:

• Measure Progress: This comprises measuring the progress made on the project and tracking the status of the project compared to the plan. The key performance indicators (KPIs) should be utilised by the project manager in order to assess progress and determine whether or not there have been any deviations from the project plan.

• Monitor Risks: During this phase of the project monitoring and control process, this entails examining potential dangers and devising solutions to deal with them. The project manager has to be prepared with a strategy to deal with foreseeable dangers and should collaborate with the team to either eliminate or lessen the impact of such dangers.

• Manage Changes: Managing changes to the project's scope, timeline, or budget is part of this responsibility. Before making any modifications, the project manager is responsible for ensuring that any changes are both recorded and agreed upon by all relevant stakeholders.

• Manage Issues: This entails detecting and fixing issues that come up during the monitoring and control phase of the project. The project manager needs to collaborate with the team in order to find solutions to problems and make certain that the project continues along its intended path.

• Control Costs: In order to guarantee that the project does not go over its allotted budget, this entails monitoring and regulating the expenditures of the project. It is the project manager's responsibility to maintain track of the expenditures associated with the project and make any required adjustments to the project plan.

• Maintain Quality Standards: This entails checking to see that the project's final products are up to the quality criteria established in the project plan. The manager of the project is responsible for overseeing quality control and resolving any problems that crop up.

For a project to be successful, efficient monitoring and management of the project are necessities. To ensure that the project is completed as planned, it is essential that the team monitors its progress, recognises and resolves any problems that arise, and makes any necessary revisions. 

Project managers are able to guarantee that their projects are finished on time, without exceeding their allocated budget, and to the quality standards established in the project plan if they adhere to the main procedures listed above.

Stage Five: Project Closure

The fifth stage of the project life cycle is called "project closure." This stage entails finishing off the project and moving it on to the next phase or directly into operations. 

It is essential to reach this stage in order to formally bring the project to a close and make certain that all deliverables have been finished and sent to the client or other stakeholders. The following are the primary stages involved in bringing an end to a project:

• Complete Final Deliverables: This entails finishing off any remaining deliverables for the project and handing them over to the client or other stakeholders. It is the responsibility of the project manager to guarantee that the quality criteria outlined in the project plan are met by all deliverables.

• Obtain Acceptance: This step requires gaining official acceptance from the client or other stakeholders that the project has been effectively finished. The project manager is responsible for obtaining an approval signature on the finished project and ensuring that all of the contractual responsibilities have been satisfied.

• Conduct Post-Project Evaluation: This involves evaluating the project's overall performance and identifying areas for improvement. The project manager should gather feedback from the team, stakeholders, and customers to identify lessons learned and document them for future projects.

• Release Resources: This entails returning members of the project team and any resources they were using to their respective departments or other ongoing initiatives. It is the project manager's responsibility to guarantee that all resources are released appropriately and that all paperwork is finished and turned over.

• Close Contracts: This includes putting an end to any contracts relating to the project that are still open. It is the project manager's responsibility to guarantee that all of the contractual obligations have been satisfied and that all of the processes for contract close-out are followed.

• Archive Project Information: Performing this action entails archiving all of the project's paperwork, which may include project plans, timetables, reports, and other information pertaining to the project. It is the project manager's responsibility to guarantee that all documentation is archived appropriately and may be retrieved when necessary in the future.

Stage Six: Project Review And Evaluation

The Project Review and Evaluation stage is the sixth stage of the project cycle. This step is essential for determining the overall success achieved by the project and locating potential areas for enhancement. 

Typically, this stage takes place after the project has been finished and the deliverables have been given to the client or other stakeholders. The following are the primary stages that comprise the review and evaluation of a project:

• Evaluate Project Performance: This entails analysing the overall performance of the project in comparison to the project plan as well as the expectations of the customer or other stakeholders. The project manager should evaluate the project's performance based on the following criteria: cost, time, quality, and customer satisfaction.

• Conduct Lessons Learned: In this step, you will collect input from the project team, the stakeholders, and the client in order to determine lessons learnt and best practices. The management of the project need to keep a record of the lessons gained and make use of them in order to make the subsequent initiatives better.

• Analyse Performance Data: This entails analysing data relating to the performance of the project, such as variations in cost and schedule, in order to identify areas of the project in which improvements may have been made. It is the project manager's responsibility to use this knowledge to formulate suggestions for subsequent initiatives.

• Develop Project Evaluation Report: Developing a report for the project evaluation that summarises the project's overall performance and recommends areas for improvement is part of this process. The report needs to be presented by the project manager to the sponsor of the project as well as the stakeholders.

• Close Out Project: This includes archiving any project documents and releasing any resources held back for use later in the project. It is the project manager's responsibility to guarantee that all project documentation is archived appropriately and may be retrieved when needed in the future.

Stage Seven: Follow-Up And Maintenance

The seventh and last stage of a project is called the Follow-Up and Maintenance stage, and its purpose is to ensure that the project's deliverables are kept up to date and that any problems that arise after the project is over are resolved. The following are the primary steps involved in the process of project maintenance and follow-up:

• Conduct Post-Project Review: This involves conducting a review of the project deliverables after they have been handed over to the customer or stakeholders. The project manager should ensure that the deliverables are meeting the customer's needs and that any issues are identified and addressed.

• Address Issues: Taking care of any problems that crop up after a project has been finished is part of this. The project manager is responsible for working with the client or other stakeholders to find solutions to any problems that may arise and ensuring that the deliverables of the project continue to satisfy those demands.

• Perform Maintenance: This involves performing any necessary maintenance on the project deliverables to ensure they continue functioning properly. This may include software updates, equipment maintenance, or other activities necessary to keep the project deliverables operational.

• Conduct Follow-Up Surveys: It is necessary to perform follow-up surveys with the client or the stakeholders in order to collect feedback on the project deliverables and the process of managing the project. Utilising this input can enhance future initiatives and bring a higher level of happiness to customers.

• Archive Project Documentation: Performing this action entails archiving all of the project paperwork, which includes the project plan, the project evaluation report, and any other papers that pertain to the project. This guarantees that the information pertaining to the project is readily available for use in the future.

Project managers are able to guarantee that the deliverables of the project are maintained and that any concerns are handled after the conclusion of the project by adhering to the essential stages that have been stated above. The happiness of customers and the quality of future initiatives are improved as a result.

Bottom Line

In conclusion, the management of projects is an essential component of the success of any organisation. Successful project management in Australia needs to have an understanding of the seven stages that make up the project cycle. Initiation, planning, execution, monitoring and controlling, closure, and assessment are the several steps that comprise this process. 

To guarantee that the project is finished on time, stays within its allotted budget, and lives up to the anticipations of all parties involved, each step must be given the careful consideration and attention it deserves because it is equally important to the accomplishment of the project's goals.

Do you believe that the seven phases of the project cycle are applicable to all kinds of projects, or do you believe that the stages differ depending on the type of project? Leave a comment below with your ideas and opinions.

Content Summary

• Whether you're a seasoned project manager or just starting, understanding the project cycle's different phases is essential.
• To begin with, the seven stages of the project cycle are initiation, planning, execution, monitoring and controlling, change management, project closure, and post-implementation review.
• The strategy for the project, including the timeline, the budget, and the scope, must be communicated to the stakeholders by the project managers.
• It is crucial to efficient project management to have a solid understanding of the project cycle.
• Project managers are responsible for ensuring the success of their respective projects by ensuring that each stage of the project cycle is followed and that the necessary tools and techniques for project management are applied.
• Defining the project's purpose, aims, objectives, and scope is part of the first step of the project cycle, also known as "project initiation."
• Project managers can use a feasibility study to decide whether or not the project is one that should be pursued and whether or not it is in line with the aims of the organisation.
• A project charter is a formal document that outlines the project's purpose, goals, objectives, scope, and stakeholders.
• The documentation of the governance structure should be included in the project charter, and stakeholders should be informed of its existence.
• The second stage of the project life cycle is called "project planning," and it entails developing a strategy for completing the project.
• This stage is extremely important because it enables project managers to develop a comprehensive strategy for achieving the goals and objectives of the project.
• The project tasks and deliverables should be documented in a project plan to clearly understand what needs to be accomplished.
• Creating a timetable for the project's activities and deliverables while considering any dependencies or limitations is one of the steps in this process.
• The requirements for performance, dependability, and safety that make up quality standards need to be stated in the plan for the project.
• The third stage of the project life cycle is called "project execution," and its primary objective is to put the project plan into action.
• Because this is the phase of the project in which the bulk of the work is carried out, it is essential that the project team maintains its concentration and works as effectively as possible to accomplish the project's goals.
• The fourth stage of the project cycle is called project monitoring and control, and it entails tracking the progress of the project and making modifications to ensure that the project continues on its intended path.
• The key performance indicators (KPIs) should be utilised by the project manager in order to assess progress and determine whether or not there have been any deviations from the project plan.
• It is the project manager's responsibility to maintain track of the expenditures associated with the project and make any required adjustments to the project plan.
• The manager of the project is responsible for overseeing quality control and resolving any problems that crop up.
• For a project to be successful, efficient monitoring and management of the project are necessities.
• It is essential to reach this stage in order to formally bring the project to a close and make certain that all deliverables have been finished and sent to the client or other stakeholders.
• It is the project manager's responsibility to guarantee that all of the contractual obligations have been satisfied and that all of the processes for contract close-out are followed.
• The Project Review and Evaluation stage is the sixth stage of the project cycle.
• Typically, this stage takes place after the project has been finished and the deliverables have been given to the client or other stakeholders.
• Developing a report for the project evaluation that summarises the project's overall performance and recommends areas for improvement is part of this process.
• The seventh and last stage of a project is called the Follow-Up and Maintenance stage, and its purpose is to ensure that the project's deliverables are kept up to date and that any problems that arise after the project is over are resolved.
• The project manager is responsible for working with the client or other stakeholders to find solutions to any problems that may arise and ensuring that the deliverables of the project continue to satisfy those demands.
• It is necessary to perform follow-up surveys with the client or the stakeholders in order to collect feedback on the project deliverables and the process of managing the project.
• Project managers are able to guarantee that the deliverables of the project are maintained and that any concerns are handled after the conclusion of the project by adhering to the essential stages that have been stated above.
• In conclusion, the management of projects is an essential component of the success of any organisation.
• Successful project management in Australia needs to have an understanding of the seven stages that make up the project cycle.