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Breaking of events into work breakdown structure.Estimating & Budgeting costs for the project in line with the baseline schedule.Delivery of specified goals with respect to stakeholder requirements.The project management techniques discussed above shall structure the project and enable the project team to ensure the following: Finally, the project is handed over to the customer by ensuring there is no stone unturned by closing all checklist points or by attending to snags raised by the customer.
Based on the project experience, various reports like project learning reports, customer satisfaction reports, etc., are prepared as a reference for future projects. All the necessary closure records & reconciliations are completed and disclosed to stakeholders. This is the final stage of project management where a project team achieves the destined goal within valid timelines, stipulated budget & quality. 
Project status is maintained in prescribed formats provided in the initiation phase, and the same is updated & circulated on a timely basis to stakeholders of the project. Due to some unavoidable circumstances project may have time or cost overruns, where the baseline schedule or estimate shall be modified accordingly if required. Project progress is tracked/monitored against the baseline plan using different tools (Gantt chart, PERT, etc.). Procurement/deployment of required resources and ensure that the project is on schedule within prescribed quality standards. The project manager initiates the execution of the project with respect to the baseline plan prepared in the planning phase. There are majorly 4 types of sequencing SS – Start to Start, SF – Start to Finish, FS – Finish to Start, FF – Finish to Finish. With respect to the requirement of stakeholders, the master schedule is prepared by sequencing all the listed activities in order to derive the baseline (ideal/preliminary) duration of the project. Risk identification is done by self-interpretation or comparing the project with other competitive projects, and necessary mitigation plans are prepared to prevent potential risks. After preparing WBS, a budgeting exercise is carried out where the quantum of all the activities are estimated & competitive rates are being derived, and a preliminary estimate of the project is prepared for further approval (where necessary amendments are done based on any additional cost incurred during the project). Event : Planting a tree Activity : Procuring tree, 2. WBS is nothing but breaking down the major event into a set of activities (For ex. All the activities of the project are listed down, and their respective WBS (Work breakdown structure) is prepared. Detailed project scope, feasibility is defined. Apt tools that are required for project management are identified & provided to the team.Īfter Initiation, here comes the major & crucial phase of the project, which is a way ahead route map for the project management:. Internal & cross communicational protocols and respective hierarchies are disclosed to all stakeholders. Procedures & formats for posting project information and updates to stakeholders are provided to the team. The team is assigned to their respective job roles & responsibilities. The project’s scope and goals are defined clearly, and all stakeholder expectations are clearly discussed with the team. With respect to project requirements, a suitable team is identified & brought on board. This is the primary project management phase for any project in this phase, the initial requirements are identified and established as follows: Project scheduling and management, project management software & others
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