What are the best practices for defining and managing project life cycle phases in EPM?

1 Understand the purpose and scope of each phase

Project life cycle phases are not arbitrary or fixed; they should reflect the purpose and scope of each project and its deliverables. Different types of projects may require different phases, such as feasibility, design, development, testing, deployment, and maintenance. Each phase should have clear objectives, requirements, outputs, and success criteria, as well as defined roles and responsibilities, processes, and tools. The purpose and scope of each phase should be documented and communicated to all project stakeholders, and reviewed and approved by the appropriate governance bodies.

2 Establish consistent and flexible phase gates

Phase gates are checkpoints or milestones that mark the end of each phase and the transition to the next one. Phase gates are essential for ensuring quality, compliance, and alignment of project deliverables with business needs and expectations. Phase gates should be consistent across projects to enable comparability, transparency, and accountability, but also flexible enough to accommodate variations in project complexity, risk, and uncertainty. Phase gates should involve formal reviews and approvals by relevant stakeholders, such as sponsors, customers, users, and experts, as well as feedback and lessons learned for continuous improvement.

3 Monitor and control phase performance and progress

Monitoring and controlling phase performance and progress is vital for ensuring that projects are on track, on budget, and on scope, and that they deliver the expected value and benefits. Monitoring and controlling phase performance and progress involves collecting, analyzing, and reporting data on key performance indicators (KPIs), such as schedule, cost, quality, scope, risk, and issues. It also involves identifying and resolving deviations, problems, and changes, and implementing corrective and preventive actions. Monitoring and controlling phase performance and progress should be done regularly and systematically, using standardized methods and tools, and involving all relevant stakeholders.

4 Integrate and coordinate phases across projects

Integrating and coordinating phases across projects is crucial for achieving EPM objectives, such as optimizing resources and performance, aligning project goals with business strategy, and ensuring stakeholder satisfaction and value delivery. Integrating and coordinating phases across projects involves identifying and managing dependencies, interdependencies, and conflicts among project deliverables, activities, and resources. It also involves aligning and harmonizing phase objectives, requirements, outputs, and success criteria across projects, and ensuring consistency and compatibility of phase processes, tools, and standards. Integrating and coordinating phases across projects should be done proactively and collaboratively, using integrated platforms and systems, and involving all relevant stakeholders.

5 Adapt and improve phase processes and practices

Adapting and improving phase processes and practices is essential for enhancing EPM maturity, capability, and performance. Adapting and improving phase processes and practices involves evaluating and measuring the effectiveness, efficiency, and value of each phase and its outputs, using quantitative and qualitative methods, such as audits, surveys, feedback, and lessons learned. It also involves identifying and implementing opportunities for improvement, innovation, and optimization of phase processes and practices, based on best practices, benchmarks, and standards. Adapting and improving phase processes and practices should be done continuously and systematically, using a structured framework and methodology, such as Plan-Do-Check-Act (PDCA).

6 Engage and empower phase stakeholders

Engaging and empowering phase stakeholders is vital for ensuring the success and sustainability of EPM. Engaging and empowering phase stakeholders involves identifying and involving all the people who have an interest or influence in each phase and its outputs, such as sponsors, customers, users, team members, managers, experts, and suppliers. It also involves communicating and collaborating with them effectively and efficiently, using appropriate channels, formats, and frequency. It also involves empowering them to participate actively and constructively in phase activities, decisions, and reviews, and to share their knowledge, skills, and feedback. Engaging and empowering phase stakeholders should be done strategically and respectfully, using a stakeholder management plan and a stakeholder engagement matrix.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?