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Steps Involved In Project Management Process
- Initiation: The name is itself an explanation. During this phase, the feasibility of the project is measured, i.e. whether the project is suitable for the present set of preferences or not.
- Planning: Planning refers to the formulation of the every important aspect required to materialize the desired goal in the desired time period. An overview of the points to be considered while planning includes resource allocation, defining budgetary limits, act of conduct, and deadline. Depending upon the size of the project, several parts are introduced and eliminated to provide the most relevant superhot plan to it.
- Execution: It simply means the implementation part of the plan along with the thoughtful use of required resources.
- Monitoring: After the implementation process has been completed, the monitoring of every completed task is done by the expert professionals. They spot every area that needs improvement or some alteration.
- Closure: Closure is declared after the through monitoring and scrutiny process has been done properly. If all the results are satisfactory or if they comply with the quality standards, the project is then said to be closed as per the plan.
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