In the realm of project management, success depends on effective planning, ongoing supervision and execution. To make this happen, many project managers use project management phases — a structured approach that breaks projects down into four or five focused stages, ensuring that each part of the project lifecycle gets fully addressed.

Compare Top Project Management Software Leaders

Article Roadmap

• What Is Project Management?
• 5 Project Management Phases
• Project Management Best Practices
• Next Steps

In this comprehensive guide, we’ll delve into each project management phase, exploring its purpose, key activities and best practices. Whether you’re a seasoned project manager or new to the field, this article will equip you with the knowledge to navigate the project management lifecycle successfully.

What Is Project Management?

Before we dive into the intricacies of project management phases, let’s define what project management entails. Project management is the application of specialized knowledge, skills, tools and techniques to accomplish a goal and create something of value.

Strategies in project management balance meeting specific project objectives within set constraints, such as time, budget and scope. Successful projects involve careful planning, management and execution from start to finish.

Compare Top Project Management Software Leaders

5 Project Management Phases

Project management phases, also known as project lifecycle phases, are a series of distinct stages that a project goes through from the time it begins until it’s completed. Each phase has a specific purpose, along with expected deliverables and outcomes, which helps guide project managers and their teams in their work on the project.

The five main phases of project management are initiating, planning, executing, monitoring and controlling, and closing. Let’s go over each of these phases in detail.

1. Initiating

The initiating phase marks the beginning of a project. During this phase, project managers identify and define the project’s objectives and scope, and consult with key stakeholders to ensure their needs are incorporated.

Specific activities in this phase can include creating a project proposal and charter, conducting a feasibility study, confirming team size and roles, and identifying potential risks and constraints. Overall, the intention of project initiation is to set a strong foundation for the project, and ensure that the process the team follows aligns with your organization’s needs and goals.

Project management software helps during this phase by giving project managers a clear sense of what resources are available and removing some of the guesswork from drawing up proposals. Accessing historical information from past projects logged in the software can also help guide your approach.

2. Planning

The planning phase is when project managers develop a comprehensive roadmap for achieving project objectives. The plan serves as a blueprint for executing and managing the project effectively through each stage.

Specific activities in this phase can include creating a work breakdown structure, estimating resources and timelines, developing a schedule and identifying dependencies. Visualizations, like Gantt charts, can be helpful at this stage to communicate project plans with your team.

Depending on the complexity of the project, project managers might opt to make a detailed plan that includes tasks and subtasks. Consulting stakeholders ensures you have their approval and guidance when deciding how to allocate resources and personnel.

Project management software supports this phase by providing a buildable space and templates for your workflows. A solution like ClickUp, for example, makes it easy to establish and assign tasks and subtasks, set project deadlines and schedule out different steps in the workflow through automations. It also offers multiple views, including Gantt charts, so you can plan in a way that suits your team best.

Compare Top Project Management Software Leaders

3. Executing

The executing phase is where the project comes to life. Project managers and their teams work together to complete the project’s deliverables, adhering to the scope, timeline, budget and other considerations outlined in the previous phases. It also involves adapting the project to meet any challenges or changing needs as they come up.

Specific activities in this phase can include assigning tasks, managing resources as needs change, monitoring progress, tracking milestones and communicating with stakeholders. Tools like burndown charts can help teams get a better sense of what they’ve accomplished as well as what still needs to be done.

Effective communication and collaboration are critical during project execution to ensure everyone is on the same page and working towards a common goal.

Collaboration tools are built into many project management solutions. For example, monday.com lets users tag each other on tasks, hold individual and group conversations, work on files together in real time and maintain a centralized database, all of which foster a collaborative work environment. It also supports burndown charts to keep teams motivated.

Compare Top Project Management Software Leaders

4. Monitoring and Controlling

The monitoring and controlling phase is about keeping a close eye on your project’s progress and performance. This phase isn’t always a part of the project lifecycle — its activities overlap somewhat with executing — but it can be helpful to include in your approach if your project is complex or involves a lot of variables.

Specific activities in this phase can include tracking key metrics and KPIs, evaluating project progress and making necessary adjustments to keep your work on track. Regular project status meetings and progress reports, coupled with reviewing KPIs and analytics, can help give you a clear, comprehensive picture of where things stand.

This phase ensures that any deviations from your project’s plan are promptly caught and addressed to prevent slowdowns.

Features like dashboards, regular reports and tracking tools, available in PM software like Wrike, help project managers monitor progress and keep projects on track. Having the ability to formally establish and adjust timelines, and to zoom in on project stages at the granular level, gives you even more control over the process, helping ensure you get results.

5. Closing

The closing phase marks the completion of the project. During this phase, project managers conduct a final review to ensure all project deliverables are done and all goals have been met.

Specific activities in this phase can include documentation, conducting retrospectives, transitioning project outcomes to stakeholders or operational teams, and creating final impact and project closeout reports. Closure allows managers to evaluate the project’s success, identify areas of improvement for future projects and celebrate achievements with their teams.

In addition to helping you produce your deliverables, PM software documents your project processes as they happen. Reporting and analytics tools make the most out of that valuable data, so it’s easier to determine what went right and wrong. These data-driven insights help you adjust your strategies to support better project outcomes in the future.

Compare Top Project Management Software Leaders

Project Management Best Practices

Every project is unique, so there’s not a one-size-fits-all approach to project management. However, some best practices are helpful for any project manager to follow throughout the project management lifecycle.

Here are some best practices to follow to ensure your project’s success:

1. Clearly define project objectives and scope. It’s important to go into your project with a clear sense of not only your goals, but also your limitations.

2. Engage stakeholders for their input and feedback. You should keep communication with your stakeholders open throughout the project, incorporating their advice from the outset, and making sure they’re satisfied during the process as the project progresses.

3. Establish a realistic project timeline and budget. Working within your means ensures that your team and resources are used optimally and you don’t end up delayed or overextended.

4. Regularly communicate with your project team. Active communication helps make you aware of changing needs or potential risks before they compromise the project. It also ensures that your team stays motivated and on track.

5. Monitor project progress and make necessary adjustments. Proper planning can save you a lot of trouble down the line, but it isn’t a perfect science. Keeping tabs on your project as it progresses is crucial to ensuring you’re able to produce deliverables, meet milestones and achieve goals on time. It also allows you to adapt as issues arise or needs and objectives change.

6. Document lessons learned. Each project is unique, but most involve many of the same steps, considerations and processes. Making note of what goes well and what doesn’t helps you create better plans going forward.

Also, while it’s best to use project management phases at a project’s outset, you can also apply this strategy to in-process projects.

• If you’re in the planning phase, focus on creating a comprehensive plan that aligns with your objectives.
• If you’re in the execution phase, prioritize communication, collaboration and progress tracking.
• And at any phase, continuous oversight and improvement are the key to achieving success.

Compare Top Project Management Software Leaders

Next Steps

Project management phases provide a strategic, structured approach to managing projects, ensuring their successful completion. Mapping each phase onto your project’s considerations can help you navigate the project lifecycle with confidence.

Remember, project management isn’t one-size-fits-all, and adapting to the specific needs of each project is crucial. If you need more help managing your projects, you might want to consider adopting project management software for your business. Check out our free comparison report to see how industry-leading products in PM stack up.

So, how do you manage your projects? Do you think using project management phases can make a difference for your business? Let us know in the comments!