5 Phases of Project Management

As per PMP-PMI, projects are broken down into five phases. You can think of these phases like steps you take when doing any project, whether it's planning a birthday party or building a new office or deploying a product feature.

The 5 Project Phases are as follows:

1. Initiation (Getting Started / Deciding What to Do)

Here, we identify the project's purpose, define the scope, know the objectives and stakeholders and determine the feasibility. 

You figure out what needs to be done and why. 

You ask: 

"Is this project worth doing?"

"What is the goal?"

"Who is in charge?"

Daily Life Example:

You're thinking about organizing a family reunion. You talk to family members to see if they’re interested. You decide yes, it's worth doing.

Business Example:

A company decides to launch a new product. They check if there’s a market and if they have the money and people to make it happen.

2. Planning (How to Do It)

In this phase, we create a detailed plan with regards to scope, schedule, resources, budget, risk management strategies, communication channel, stakeholders engagement, to meet the project deliverables and goals. 

You make a detailed plan for how to do the project. 

You figure out:

What exactly needs to be done.

How much time and money it will take.

Who will do what.

What risks could come up and how to handle them.

Daily Life Example:

For the family reunion, you make a guest list, pick a date, book a park and decide on food and games.

Business Example:

The company creates a timeline, hires designers, plans the budget and figures out marketing for the new product.

3. Execution (Doing the Work)

Here, all the teams involved on the project perform the tasks, activities as per the defined plan and complete their project deliverables. 

You and your team do the actual work based on the plan.

Assign tasks

Communicate

Manage people and resources

Make sure things are getting done

Daily Life Example:

You send out invites, buy the food, arrange transportation and set up the venue for the reunion.

Business Example:

The product gets designed, built, tested and marketing materials are created. Ads are launched.

4. Monitoring and Controlling (Checking and Fixing Along the Way)

This phase involves tracking the work, monitoring the project status, progress, identifying issues, dependencies, putting a control in place to avoid any overruns, take corrective actions, work on the intermediate feedbacks to ensure the project is on track and within project standards. 

While you’re working, you’re also checking to make sure things are going as planned. If there are problems, you fix them.

Are we on time?

Are we on budget?

Are people doing their jobs?

Is quality good?

Daily Life Example:

You realize not enough people RSVP’d for the reunion, so you call them to remind them. You also notice the cake is late, so you follow up with the bakery.

Business Example:

The product team sees they are behind schedule, so they add more people to finish on time. The budget is reviewed regularly to avoid overspending.

5. Closing (Finishing Up and Reviewing)

This is the final phase where all the outstanding tasks are to be completed, deliver the final product/features, obtain sign-off from relevant stakeholders, store all the project artifacts in a central repository and formally close the project. Celebrate the milestone, success achieved.

You finish the project, check if everything is done, and review what went well (or not).

Get feedback

Celebrate success

Document lessons for next time

Close contracts, pay bills

Daily Life Example:

The reunion happens! Afterward, you thank everyone, clean up and talk about how it went and what could be better for the next time.

Business Example:

The product is launched! The company reviews sales numbers, asks customers for feedback, pays vendors, and files a report on what worked and what didn’t.

Quick Summary through different Stories:

🐶Imagine you want to adopt a pet dog.  

Adopting a pet dog can be seen as a project, and we can apply the above 5 phases to achieve the goal.

1. Initiation

• Define Objectives: Why do you want a dog? (Companionship, security, emotional support, etc.)

• Feasibility Study: Assess your lifestyle, home environment, budget, and time commitment.

• Stakeholder Identification: Discuss with family members or housemates to ensure everyone is on board.

• Risk Analysis: Consider allergies, pet expenses, time for training, and potential behavioral issues.

2. Planning

• Budgeting: Plan costs for adoption fees, food, vet care, grooming, and accessories.

• Dog Type Selection: Decide on the breed, size, and temperament based on your lifestyle.

• Adoption Source: Research shelters, rescue centers, or breeders to find a suitable dog.

• Home Preparation: Buy essentials like a bed, food, toys, and a leash. Dog-proof your home.

• Schedule & Responsibilities: Plan for feeding, walking, training, and vet visits.

3. Execution

• Visit Adoption Centers: Meet different dogs, interact, and choose one that fits your personality and home.

• Complete Adoption Process: Fill out paperwork, pay adoption fees, and follow shelter policies.

• Bringing the Dog Home: Ensure a smooth transition, introduce the dog to its new environment, and provide comfort.

• Initial Vet Visit: Check vaccinations, health status, and discuss diet and care with the vet.

4. Monitoring & Controlling

• Behavior & Health Tracking: Observe eating habits, behavior, and any medical issues.

• Training & Socialization: Begin basic training (house rules, leash training) and socialize the dog.

• Adjustments & Improvements: Modify diet, exercise, or training methods based on the dog’s needs.

• Feedback from Experts: Consult trainers or vets if behavioral or health issues arise.

5. Closure

• Final Review: Evaluate if the dog has adjusted well to the home and if initial goals are met.

• Long-term Plan: Set a routine for care, vet checkups, and ongoing training.

• Celebration: Strengthen the bond with your pet and enjoy the companionship!

OR

⛾ Imagine a business owner wants to initiate a project wherein he wants to open a new coffee shop in his town.

1. During planning, they chose the location, set a budget, and created a timeline

2. They gathered requirements, like getting permits, hiring staff, and designing the shop layout.

3. In the execution phase, construction started, equipment was purchased, and staff were trained.

4. Regular meetings helped track progress and solve any issues, like supply delays.

5. They monitored and controlled quality by checking the build, testing equipment, and tasting recipes.

6. Adjustments were made—adding more seating and improving the menu based on feedback.

7. After final inspections, they launched the coffee shop with a grand opening event.

8. The project was closed by reviewing expenses and ensuring all tasks were complete.

OR

🔆Imagine customer asked for a dark mode feature and now the Product team has initiated this ask.

                                 

1. During planning, they defined the scope, set deadlines, and allocated resources.

2. The designers created mockups while developers outlined the requirements and technical approach.

3. As execution began, coding started and UI designs were brought to life.

4. Regular stand-ups ensured everyone was aligned and risks were addressed quickly.

5. The QA team monitored and controlled quality, testing for bugs and ensuring smooth functionality.

6. Bugs were fixed, feedback was gathered, and tweaks were made to optimize performance.

7. Once the feature passed final testing, it was approved for launch.

8. The team closed the project by releasing dark mode and celebrating the milestone.