Project Cycle Management and more info.pptx

About project cycle management

1. Project Cycle Management  (PCM)

2. PCM is a project management strategy that helps to structure and determine the phases of your project and how to implement all tasks in each stage . All project phases are connected, and a weak link in the chain could jeopardize the entire project PCM is the high-level process of delivering a project successfully by helping to define the project goals, plan its execution, and create a path to completion

3. Phases of project cycle management PCM has four phases Project initiation Project planning Project implementation Project conclusion

4. Projects often start with a simple idea. In the project initiation phase - the project scope and objectives. Business need, opportunity, and problem Need to figure out the project objectives, Determine its feasibility, and pinpoint the possible deliverables for the project Project initiation

5. Project Initiation Phase Can Also Include Conducting a feasibility study Document consisting of details like the  project constraints , goals, budget, expected timeline Identify the scope of the project by defining its breadth and depth. Pinpoint the deliverables Outlining project stakeholders Develop a business case by comparing the potential benefits and costs of undertaking the project. It helps you to determine its viability Develop a statement of work by documenting the project’s scope, objectives, and deliverables.

6.  Project planning Once a project gets approved to proceed based on the initiation document or statement of work, you need to start planning the project. The project planning phase primarily entails developing an immersive design for the project and breaking it down into smaller tasks, creating the project implementation team, and preparing a schedule for undertaking the various project-related tasks. The  project planning  stage requires complete diligence as it lays out the project’s complete roadmap. the primary tasks are identifying technical requirements, developing a detailed  project schedule , creating a communication plan, and setting up goals/deliverables

7. Project goals The  ‘SMART’  criteria ensure that the goals set for the project are critically analyzed. It is an established method that reduces risk and allows  project managers  to make clearly defined and achievable goals. The  ‘CLEAR’  method of setting up goals is designed to cater to the dynamic nature of a modern workplace. Today’s fast-paced businesses require flexibility and immediate results and CLEAR can help  with that. Develop a work breakdown structure (WBS), which clearly visualizes the entire project in different sections.

8. Project Objectives and Goals Objectives referred to as the ‘why’ in a definite plan of action. They are the specific targets behind the tasks, plans, and to-dos carried out in the project management process. Objectives serve as a yardstick for measuring whether a project has been successful or not. Objectives are the results that are to be delivered at each of the stages of work the project. Project objectives make it easy to track how far and well work is progressing on the project.

9. Why are project objectives important? For a  project to be executed  successfully, it must first be broken into manageable bits so it can be done one step at a time. Project milestones  must be defined for each of those bits of the bigger project, so that at every stage of the project, the team can confidently agree on when a block of work has been completed . Those milestones defined at every point where a stage of the project is completed are the objectives, the gradual steps that add up to the big picture — the goals of the project . Why the objective is not the same as a goal or deliverable? Project goals are the long-term targets of any  project . A goal is the bigger picture–‘the why’–that a project is supposed to answer. Project management goals are clearly defined at the planning stage since, for an entire team to stay focused on the targets of a project. Goals are often monolithic, complicated visions of what the team wants to achieve, defined with as much clarity as possible so it can actually be achieved . Project objective is a short-term goal, albeit, on a smaller scale, that adds up step by step to the big picture goal

10. Project deliverable   project deliverables  are the tangible ‘what’ that gets produced in the project execution process.

11. Project implementation Project implementation is the phase of a project plan that focuses on taking action. During the implementation phase, the project manager must make real-time adjustments to schedules, procurement, and the budget to keep the team on track During the implementation phase, the project manager must make real-time adjustments to schedules, procurement, and the budget to keep the team on track When obstacles arise, managers have to  communicate  changes to the plan across teams and sometimes change  management styles  to address unforeseen challenges.

12. Advantages of Project Implementation Accomplishing project objectives energizes team members Actively achieving milestones and meeting goals boosts the overall mood and motivation of your project team Achievement of project goals Successful implementation of your project means you’re achieving your project goals.  Following an implementation plan improves workflow Strategic planning increases efficiency, reduces confusion, and improves your team’s effectiveness. Project success benefits your organization The more project successes you achieve, the better your reputation, which leads to more clients and  stakeholders  wanting to work with and invest in your organization.

13. Challenges of Project Implementation Expense The project implementation phase is the most protracted and expensive of all the planning process phases. Pay attention to constraints such as project scope, time frames, and due dates of  project deliverables  and take corrective action when needed to avoid going over budget . Risk of failure Whenever you take part in an action plan, there’s always a risk of failure, which means losing valuable time and investment. Assess risk using project management software, which will help monitor project . Scope creep Project scope can subtly extend beyond original plan if constant change requests exist. Scope creep negatively affects the metrics of your budget and time management

14. How to Implement a Project Plan   Review your plan . Before heading into the official execution part of the project, review the plan with your team. Everyone involved must understand their roles and duties within the plan, including the expectations of clients and key stakeholders. Execute the plan . At this point, work on your project begins. Be sure to communicate with your team throughout the process, providing proper oversight and guidance should any issues arise. Monitor progress . As you move through the action steps of your project, monitor progress by keeping track of achieved milestones and adherence to the timeline and due dates. Adjust the plan as needed . There will most likely be unforeseen changes as you progress. Specific tasks may take longer than expected, or the client may make changes to deliverables. Provide your team members with support if they need additional resources.

15. Project Monitoring and Control Dedicated to measure project performance and making sure that it adheres to what’s been set in the project plan Closely track the progress and performance of the project, review project status, identify potential problems and implement corrective actions when required to keep the project on schedule and within budget . Project monitoring goes hand-in-hand with project execution to ensure that as tasks are being completed they’re staying on schedule and keeping to the project’s budget   Project on schedule - avoids overspending, project monitoring is also a great way to  manage risk  and avoid scope creep.

16. Project Monitoring Steps Create a Project Scope Baseline Make a Project Schedule Baseline Estimate Project Costs and Define a Project Budget  Use a Risk Log Use a Change Log  Establish Quality Control Procedures Use Project Monitoring Tools Create Project Reports