Assignment task:
Jeff Stibel dissects the intricacies of project management and offers a road map to successfully designing, leading, and executing a project in his book, The Harvard Business Review Guide to Project Management. This memorandum will specifically focus on the four phases of project management as outlined by the Harvard Business Review's literature: planning, build-up, implementation, and closeout. These phases are each integral to successfully executing the outlined deliverable and will drive the budget, timelines, and resources required.
See below the phases, their purpose, and the related action items:
Planning: This phase prioritizes establishing project objectives and goals. Defining the scope, budget, timeline, and resources required for the project is integral before proceeding to the next phase. Further, this phase requires the creation of matrices delegating roles, responsibilities, and lines of communication.
Build-Up: The build-up will require the procurement of resources to proceed with the project. Additional staff or vendors may be recruited to support the team, and deliverables are to be assigned. Detailed project planning will be developed during this phase, which will require a thorough understanding of project requirements, roadblocks, and timelines. Regulations may require the team to receive approval before the next phase: implementation.
Implementation: The project plan will be executed in this phase. Risks are to be managed and mitigated. The team will need to conduct project oversight to monitor project progress and ensure key targets are met.
Closeout: The final phase, closeout, will finalize outstanding work by conducting quality checks and ensuring that all requirements and regulations have been met. Teams are encouraged to evaluate the success of the project and gather feedback from key stakeholders during this phase.
Each of the project management phases outlined here demands thoughtful planning and foresight. While each phase prompts unique challenges, when the phases are executed carefully and with skill, projects are streamlined and able to tackle ambitious deliverables.
Questions:
Note which phase you find most difficult and strategies that can be implemented to mitigate roadblocks.
Discuss these phases in relation to your industry. What challenges are presented that may be unique to your industry when it comes to these phases?