There are many ways to manage a project. To manage a project effectively, you need to consider all aspects, from scope and budget to the tasks that will be completed after it is launched.
There are five stages to project management. These 5 stages are what we call a project lifecycle. This article will discuss each phase of project management and define the project management process.
The 5 phases of project management
Project management is a series involving several phases that represent the evolution and maturation of a product – from conception to delivery, maturity, retirement, and finally, retirement.
Five steps are required to manage a project.
Project initiation and conception
Planning a project
Project execution
Monitoring and controlling projects
Closing of the project
These project management steps can be used to show what happens behind the scenes before a project is brought to the attention of a project manager. This is a guideline to help you get a project from idea to completion.
If you find the process too rigid, it’s fine! Learn the basics, understand the steps, and then make decisions about how you, your team, and your organization can benefit from the steps.
Now, let’s dig in.

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TeamGantt is free to useStep 1: Project initiation and conception
This is the most important phase of project management. This phase is crucial because it identifies the why behind the project, the goals of the project (usually the business case) and does preliminary research on feasibility. This will set the tone for the future.
A project is usually born out of a business need or goal that aims to solve a problem or explore new ways of doing business. If a company wants to reduce the number of customer service calls it receives, they will research and investigate the causes. This research will inform you on how to reduce the number.
A project brief, which outlines the purpose and requirements of the project and the business case, is the best way to understand the goals and challenges. This background is essential for a team to be able to start a project. It is a great way for all parties and stakeholders to agree on what’s next.
Although you can move forward without having every detail documented, it is a good idea for everyone to agree on the goals and desired outcomes.
Step 2: Project planning
This is the phase where you will lay out every detail of your plan from beginning to finish. This plan will guide your team through the execution and performance phases of the project management process.
These factors should be considered as part of your project planning:
Scope of the project
Project estimation
General workflow and process
Roles and responsibilities of team members
Key milestones in a project (like deliverable reviews or meetings)
Approval processes
How you will work with the stakeholder group to make sure you finish it on time and within budget (the fun part!)
Scope of the project
It is recommended that you define your project scope before proceeding. There are many ways to define scope. It is important to know how much time you will spend on the project overall. Without some form of control or constraint, projects can easily go off the rails. It’s fine to set guardrails in the planning phase of a project and then adjust later if necessary.
Project estimat