Project management is the backbone of any organization as it helps in ensuring that the job is completed in due time with less budget, and to exact requirements. Project management is all about coordination among resources, maintaining teams, making sure the workflow goes on smoothly, and keeping risks at a minimum. If you are among those looking to transform your way of managing projects and leading teams, then a Postgraduate Project Management Program could be your answer.
Project management, therefore, plays an important role in this fast-moving work environment where efficiency and effectiveness are the prime distinctions that can make or break an organization. Besides, it has its importance in many fields, be it construction, technology, healthcare, or finance where successful execution of projects contributes directly to the success of organizations.
The 5 Phases of the Project Management Lifecycle
Initiation: This includes the identification of stakeholders, determination of project feasibility, and development of a project agreement that describes the objectives and requirements of the project.
Planning: During this crucial phase, a roadmap of how things will go is developed. The project managers specify all the particular activities, allocate resources, set timelines, and determine the metrics of performance. The stage involves creating a strategic plan that guides the project and ensures a common understanding of objectives and expectations.
Execution: This is where the plans are executed. Team members execute the tasks identified during the planning phase, which involves collaboration for the execution to meet the project objectives. Communication and coordination are important aspects in this regard since frequent updating and adjusting describe this stage to keep things running accordingly.
Monitoring and Controlling: While the project is in flow, it is important to monitor progress so as to ensure it coincides with the plan of the project.
Closing: In this stage of the project, deliverables are finalized, stakeholders are informed, and evaluations are conducted for the areas of improvement. It is in this closure that the work will be considered finished and will further help in achieving insights for forthcoming projects.
Explore UniAthena’s Online Project Management Certification Course
This Online Project Management Certification course will provide you with an understanding of the project management lifecycle, which includes strategic project planning, effective execution, and identification and mitigation of risks. This Postgraduate Project Management Course is a 20 CIQ credit course that has only one module on Strategic Project Management and Implementation. Besides, the course is 100% online and will be guided by a personal tutor. Enroll now and take your career to the next level with this Online Project Management Certification course.
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