Project Management guide · Project management fundamentals
The 5 Phases of Project Management (Project Life Cycle)
Every project, whatever its size, moves through a life cycle. The most common model has five phases, each with its own activities, decisions and documents.
Key takeaways
- Five phases: initiation, planning, execution, monitoring and controlling, closure.
- Each phase has clear outputs such as the charter, plan and lessons learned.
- Monitoring and controlling runs throughout the project.
Overview
| Phase | Purpose | Key outputs |
|---|---|---|
| 1. Initiation | Decide whether and why to do the project | Business case, project charter, stakeholder list |
| 2. Planning | Define how the project will be delivered | Project management plan, scope, schedule, budget |
| 3. Execution | Do the work | Deliverables, status updates |
| 4. Monitoring and controlling | Track and correct, throughout | Performance reports, approved changes |
| 5. Closure | Finish formally | Acceptance, lessons learned, archive |
1. Initiation
- Identify the need or opportunity.
- Carry out a feasibility study if needed.
- Write a business case.
- Create and approve the project charter.
- Identify key stakeholders.
2. Planning
- Define scope and create a work breakdown structure.
- Build the schedule and identify the critical path.
- Estimate costs and set the budget.
- Plan risk, quality, communication and procurement.
- Set the baseline and hold a kickoff.
3. Execution
- Lead and coordinate the team.
- Produce deliverables.
- Manage stakeholder engagement and communication.
- Procure goods and services.
4. Monitoring and controlling
- Compare progress with the baseline.
- Track cost and schedule using earned value.
- Manage risks and issues; see RAID logs.
- Process changes through change control.
5. Closure
- Obtain formal acceptance.
- Close contracts and accounts.
- Release the team.
- Hold a lessons-learned review.
- Archive documents.
Phases in Agile projects
In Agile projects, planning, execution and review repeat in every iteration rather than happening once. See Agile project management.
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Frequently asked questions
Are the phases of project management always sequential?
Initiation and closure happen once, but planning, execution and monitoring overlap and repeat, especially in iterative projects.
Which of the project management phases is most important?
Planning sets up success, but monitoring and controlling is what keeps the project on track.
What are the 5 phases of project management?
Initiation, planning, execution, monitoring and controlling, and closure.
What happens in the initiation phase of project management?
The need is identified, feasibility is checked, a business case is written, the project charter is approved and key stakeholders are identified.
What happens in the planning phase of project management?
The team defines scope, creates a work breakdown structure, builds the schedule and budget, plans risk, quality and communication, and sets the baseline.
What happens in the execution phase of project management?
The team does the work, produces deliverables, manages stakeholder engagement and procures goods and services.
What is the monitoring and controlling phase of project management?
Comparing progress with the baseline, tracking cost and schedule, managing risks and issues and processing changes through change control. It runs throughout the project.
What happens in the closure phase of project management?
Formal acceptance, closing contracts and accounts, releasing the team, holding a lessons-learned review and archiving documents.
What is the project life cycle?
The series of phases a project passes through from start to finish. Life cycles can be predictive, iterative, incremental or Agile.
How do the project management phases work in Agile projects?
Planning, execution and review repeat in every iteration, while initiation and closure still happen once at the start and end.
What is a phase gate in the project life cycle?
A review at the end of a phase where a decision is made to continue, change direction or stop the project.