The Project Management Lifecycle: From Initiation to Closure
Claudio Gutierrez, PMP
Project Management Expert @ Valens Project Consulting | Efficiency Consulting
At Valens Project Consulting , we believe that successful project execution relies on a structured approach. Your organization may have been running projects without a proper framework, but I can almost guarantee that they aren't executed in the most efficient manner, with things falling through the cracks and ultimately hurting your bottom line.
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The?Project Management Lifecycle (PMLC) provides that structure, guiding teams from project inception to completion. Understanding each phase is crucial to delivering projects on time, within budget, and to the required quality standards. Let's take a look at each phase and how we can help get the most out of each one.
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Phase 1: Initiation – Laying the Foundation
The?initiation phase marks the birth of a project. Here, the project idea is assessed for feasibility, and a?business case is developed. Key stakeholders are identified, and formal approval is obtained.
??Key Activities:
???How Valens Can Help: We support feasibility studies, stakeholder engagement strategies, and cost-benefit analyses to ensure your project starts on solid ground.
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Phase 2: Planning – Setting the Course
Once the project gets the green light, detailed?planning begins. This phase involves defining the scope, setting milestones, allocating resources, and developing a risk management strategy.
??Key Activities:
???How Valens Can Help: We specialize in creating?comprehensive project plans, risk mitigation strategies, and communication protocols to keep your team aligned.
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Phase 3: Execution – Turning Plans into Reality
The?execution phase is where project work takes place. Teams collaborate, complete assigned tasks, and track progress. Effective?communication and leadership are critical to keeping the project on course.
??Key Activities:
???How Valens Can Help: We provide?ongoing project tracking, risk mitigation, and issue resolution support to ensure smooth execution.
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Phase 4: Monitoring & Controlling – Staying on Track
A project rarely follows the plan perfectly. The?monitoring and controlling phase ensures deviations are detected early and corrective actions are taken.
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???How Valens Can Help: We offer?performance measurement tools, change management expertise, and cost control techniques to keep your project aligned.
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Phase 5: Closing – Wrapping Up Successfully
Project closure ensures?all deliverables are completed, stakeholders are satisfied, and lessons learned are documented for future improvement.
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???How Valens Can Help: We assist with?project handovers, stakeholder acceptance procedures, and post-project evaluations.
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Why Structure Matters – And How Valens Can Help
At first glance, these steps may seem straightforward. In fact,?your organization may already follow these processes instinctively. However, every project encounters unforeseen?challenges that can derail progress—scope creep, budget overruns, team conflicts, or external disruptions.
That’s why having a?structured framework and expert guidance is crucial.?Valens Project Consulting provides the expertise to navigate each phase, ensuring project success and minimizing risks. Let’s work together to take your project management to the next level!?
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