Initiating and Planning in the Project Management Process

The project management process entails approximately 20 key actions.

The project management process entails approximately 20 key actions. These actions relate to the five vital project management processes: initiating, planning, executing, controlling, and closing. No matter the variations to the project management process, the five basic steps remain the same. All project leaders and business managers should be familiar with these steps.

The initiation phase of project management entails a presentation of project need and probability. It is helpful to have documentation confirming the necessity for the project products and describing the process for generating the products, costs of creating and employing the product, and its succeeding benefits.

During the planning stage of the project, several different steps are incorporated, including defining the project activities and generating time and cost estimates. The first step of the planning stage is defining and sequencing the project activities.

By developing an activity list, you will have a clearer description of all procedures that must be performed and in what order they have to be performed in, on the project.

Estimating the costs is equally as important. Therefore, it is strongly recommended that a cost management plan, which describes the expected cost for completing every activity and the handling of the cost variances, be created. This plan should also include supporting detail such as postulations and constraints should also be included in the plan along with time estimates. This will allow each team member to see and understand the duration for every activity and postulations.

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