chapter 3

The chapter 3 explores the project management cycle. Project managers in an organization have the task of accomplishing the needs of the project. There are several phases that a project goes through from the start to the end. The first phase of a project is the initiation phase. Every project is dedicated to solve a problem or utilize an opportunity. So, this phase entails the identification of a problem to be solved or an opportunity available. After the possible solutions are presented, the best possible solution is chosen out of a feasibility study. Approval of the best possible solution takes the project into the next phase, which is the planning phase. This phase entails identifying all the tasks to be done in the project alongside all the resources needed. The project managers generate a time frame for the tasks and identify the source of the resources needed. Also, costs are estimated to enable the team to plan for it. Therefore, the most important aspects of this phase are task identification, estimation of costs, and preparation of time schedule. Moreover, risk management is addressed in this phase. The project management team identifies possible threats that could affect the project’s performance and design possible actions to be taken in case the threats are realized. Finally, the whole plan is documented since It is used for the entire project. The next phase is the implementation phase, which puts the project in motion. At this stage, the project’s management performs and monitors the tasks as documented in the plan. Communication is crucial in this stage and enables the management to communicate with services and resources supplies on the plan’s specifications. Despite having an intact plan, there are adjustments made throughout the process. These adjustments are documented as variations from the original plan. The last phase is the closure phase. This phase symbolizes the closure of all project activities, contracts, communicating the closure, and handing over the project documents. Essentially, this phase marks the end of the entire project.