Carrying out a project is challenging due to the constraints involved. According to Westland (2006), projects have limited resources and carry business risk. Nevertheless, the successful completion of any project is facilitated by dividing it into different manageable stages. In essence, it is easier to monitor a project that is broken down into different phases than the one that is not. The five stages of a project include conception and initiation, planning, execution, monitoring and control, and closure. The present paper explains the activities that took place during each phase in a project we undertook. The paper also elucidates the importance of a phase-gate review in a project.
In the project conception and initiation stage, we explored the idea for our project to examine its feasibility. We also defined the scope of our project, as well as, the anticipated outcomes. The project leader wrote the proposal that we presented to our sponsor for financing and approval. The project entered the second stage, planning stage where we set the timeline, made the decision regarding the budget, and determined the needed resources. We also wrote a project plan that outlined the activities that we were to undertake. During the project execution stage, each team member adhered to the plan and worked through the assigned tasks. In the monitoring and control stage, we wrote and presented the project performance reports to the project leader. The manager periodically monitored our performance, project plan, and project timeline and made the necessary adjustments. In the last phase, closure stage, we reviewed the project outcomes and closed the project after being satisfied.
In any project, a phase-gate review is a desirable requirement due to some reasons. For one, a phase-gate review help in saving money as it minimizes cost overrun and project delays. What is more, it ensures that technical and quality practices are followed and facilitates a sound project management. Lastly, a phase-gate review eases the mitigation and resolution of risk.
Westland, J. (2006). Project management life cycle: A complete step-by-step methodology for initiating, planning, executing and closing the project successfully. London: Kogan Page.