Project Lifecycle Guide for New Project Managers | iCert Global

A project is something that you undertake for a limited period to attain a certain target, such as creating a new product, service, or outcome. It has a definitive start and conclusion. Projects are well planned and have tasks to finish the work within time and attain the target. A project is different from regular day-to-day work since it is meant to solve a certain issue or attain a target.

Simple Definition of a Project

A project is a task with an aim that is required to be accomplished in a specific time. It assists in planning work or personal objectives. Projects tend to have improvements made to things.

If you are doing an office project, various experts come together to assist. If you are doing a school project, you may work alongside your friends. If it is a family project, you may work with your family or friends. Even though an individual is responsible for the project, it is typically done as a team. That individual is the project manager.

What Makes Something a Project?

You may have already worked on a project and not have even known it! Let's examine seven things that turn an activity into a project:

1. Projects do come to an end.

Projects are not infinite. Projects begin and end, you initiate a project, you complete the definition of it, you get the work done, and you finish it. Most projects also come with time, budget, and personnel constraints. Occasionally, if a project no longer makes sense, it may end prematurely.

2. Projects Have a Clear Objective

Projects are completed with purpose. That purpose is usually for the purpose of attaining some objective or solving a problem. When the objective has been attained, the project is complete. Individuals dissect what has been discovered and put it into writing so that others can utilize the concepts down the road. The team is keeping watch throughout the project to ensure the work is continuing to assist in the attainment of the objective.

3. Projects pass through various stages

Projects pass through four main steps:

• Starting (Initiation)

• Planning

• Doing the work (Implementation)

• Wrapping up (Closure)

Each step takes time, funds, and personnel to complete. Things can change as you go along, so it must be flexible and prepared to change when it is time to do so.

4. Each project is unique

Each project is unique. Two projects can appear the same, yet remain distinct in purpose, location, team, equipment, or budget. Each project is unique.

5. Projects Venture into New Ideas

Projects generally are trying to do something new that nobody has ever done before, so inherently there is risk. Nobody knows exactly what is going to happen until the work is actually in process. Proper planning can reduce risk, but every project does involve some degree of uncertainty.

6. Projects Need Teamwork

A project requires individuals with varied skills to collaborate. For instance, an individual can be skilled at figures, an individual can be skilled at design, and an individual can be skilled at being a team leader. Collaboration makes the project better and successful.

7. A Project Functions Like a Single Entity

Even when several individuals are involved in a project and are performing various tasks, the project remains a single effort. Everyone collaborates to achieve a single thing.

What is the nature of a project?

The project typically begins in optimism and optimism. The project manager is optimistic that the team will succeed and make the company or the individual better. Projects can differ in many aspects. They can be large or small, from a variety of industries, with various goals, and produce various outcomes.

Types of Projects in Project Management

While all projects are alike, they vary. Projects are divided into various categories so that teams can choose the most suitable method to complete them.

Depending on Who Covers the Project

1. Public Projects – Supported by the government or its ministries.

2. Private Projects – Financed by individual investors or companies.

3. Hybrid Projects – Supported by a mix of public and private capital.

According to What the Project Is About

1. Construction Projects – They build things, which you can see or use, such as buildings or computer programs.

2. Business Projects – These attempt to improve business systems or add something new.

3. Research Projects – These are done to discover new information or assist individuals in making decisions.

4. Procurement Projects – These entail buying or acquiring services and creating partnerships among firms.

Depending on the duration of the project.

1. Normal Projects – These enjoy ample time to plan and complete all stages carefully.

2. Disaster Projects – These start immediately in times of disaster and need a lot of funds immediately.

3. Crash Projects – They are finished in a rush by investing more money and accomplishing different things simultaneously.

Depending on how the project is coordinated.

1. Waterfall Method – One step follows the other in sequence, as in a chain.

2. Agile Method – Work is done in small pieces, and teams scale up as necessary.

3. Scrum Method – A faster variant of Agile, suitable to utilize for small groups to achieve quick results.

4. Kanban Method – Assists large teams with managing work and remaining organized.

5. Lean Method – Similar to Kanban, but also tries to satisfy customers and complete work within time.

Why Project Management Is Important

Project management helps with all types of jobs and businesses. Even though there are different ways of achieving goals, project management helps with getting things done more conveniently and quicker.

Earlier, individuals applied project management to huge tasks alone, such as product launches or digitalization. But nowadays, increasingly more companies—particularly large organizations—apply project management even to normal work. It makes them operate efficiently and produce good outcomes.

How to obtain Project Managers certification? 

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We have successfully conducted training sessions in 108 countries across the globe and enabled thousands of working professionals to enhance the scope of their careers.

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Conclusion

Project management is used to enable teams to function more efficiently and complete their work within deadlines. Project management is required for large special projects as well as routine work. Project management results in improved output and better success for businesses.

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