Effectively Managing Project plans

The project manager and project team have one shared goal: to carry out the work of the project for the purpose of meeting the project’s objectives. Every project has a beginning, a middle period during which activities move the project toward completion, and an ending (either successful or unsuccessful).In this course, we will explore valuable tools for managing successful project.

Learning objective 1 - Identify project management tools

Project Management tools

Project management tools are usually defined by the different features offered. They include, but are not limited to:

  • Planning/scheduling – Project management tools allow you to plan and delegate work all in one place with tasks, subtasks, folders, templates, workflows, and calendars.
  • Collaboration – Email is no longer the only form of communication. Use project management tools to assign tasks, add comments, organize dashboards, and for proofing & approvals.
  • Documentation – Avoid missing files with file management features: editing, versioning, & storage of all files.
  • Evaluation – Track and assess productivity and growth through resource management & reporting

Learning Objective 2 - Review phases of project life cycle.

Phases of Project life cycle

Initiation Phase

During the first of these phases, the initiation phase, the project objective or need is identified; this can be a business problem or opportunity. An appropriate response to the need is documented in a business case with recommended solution options. A feasibility study is conducted to investigate whether each option addresses the project objective and a final recommended solution is determined.

Planning Phase

The next phase, the planning phase, is where the project solution is further developed in as much detail as possible and the steps necessary to meet the project’s objective are planned. The team identifies all the work to be done. The project’s tasks and resource requirements are identified, along with the strategy for producing them. This is also referred to as “scope management.” A project plan is created outlining the activities, tasks, dependencies, and timeframes.

Execution Phase

During the third phase, the implementation phase, the project plan is put into motion and the work of the project is performed. It is important to maintain control and communicate as needed during implementation. Progress is continuously monitored and appropriate adjustments are made and recorded as variances from the original plan. In any project, a project manager spends most of the time in this step.

Closing Phase

During the final closure, or completion phase, the emphasis is on releasing the final deliverables to the customer, handing over project documentation to the business, terminating supplier contracts, releasing project resources, and communicating the closure of the project to all stakeholders.

Which of the following phases is part of project life cycle? please choose only the correct answer.

  • Thinking phase
  • Planning phase
  • Performing phase
  • Action phase

Learning Objective 3 - Discuss basic feasibilities in the framework of a project

Feasibility Study

A feasibility study evaluates the project’s potential for success; therefore, perceived objectivity is an important factor in the credibility of the study for potential investors and lending institutions. There are five types of feasibility study—separate areas that a feasibility study examines, described below.

1. Technical Feasibility 

2. Economic Feasibility  

3. Legal Feasibility

4. Operational Feasibility

5. Scheduling Feasibility