The 5 Stages of Success in Project Management

The 5 Stages of Success in Project Management

A project is a set of temporary processes, with a start and end, which aims to achieve a specific
goal in a company or organisation. Such goal can range from the creation or improvement of a
product or service to the increase of sales volume or carry out a specific campaign. Regardless
of its nature and goals, managing a project is acting accordingly to achieve the goals set out in
the quality framework, abiding by previous planning with deadlines (chronogram) and costs
(budget). Meaning, given the goals and resources and time limitations, it is up to the project
manager to assure the set-out goals are met. However, we know managing is a complex task.
Given its importance and complexity, good project management is vital to the success of any
company or organisation. In case there isn’t a good articulate and careful project
management, even good ideas can fail in the market, even when thought out by excellent
professionals. In order to prevent that, it is necessary the implementation of a management
methodology which covers every sector, enables maintenance and fluidity on every
operational level of the company or organisation.

Before starting to plan the project, there are two key points which will determine the success:
communication and sharing. It is very important the person responsible for the project
management keeps constant communication with its team and shares not only the planning
but also the results obtained so that every intervener is in synch with the final goal. Therefore,
the responsible for the project management should start this process by selecting a team, then
sharing the goals, the planning to meet them, the costs, risks, measure metrics and the
respective chronogram. When carrying out the project, everything should be monitored and
controlled in order to avoid unpredictable situations. In the end, the project manager should
proceed to present the results and improvement suggestions to every intervener.

The 5 Stages of Success in Project Management are present below:

Stage 1 – Start

The process begins with the appointment of a project manager. In large scale companies or
organisations, there can be the need to obtain a document drafted and signed by the
interveners, but, in most cases, a simple meeting will do. Though such stage is often forgotten,
it is very important to envelop the entire community of the company and share what is meant
to be carried out so that every intervener is on the same page.
After such appointment, the project manager must gather information concerning the goals
and financial planning, meaning the identification of the amount available for human
resources and external services that might be necessary. The project manager should have the
autonomy to choose his direct team and should analyse not only the technical skills necessary
but also the crucial skills and attitudes for the project to be successful. Afterwards, he must lay
down responsibilities of every member involved, as well elaborate the chronogram.

Stage 2 – Planning

After determining the elements which will make up the project, the time comes to elaborate
the planning, which must contain:
– Goals to achieve;
– Definition of the materials, equipment and resources necessary;
– Definition of the methodology and the quality metrics;
– Quantitative and qualitative risk analysis;
– Cost estimation;
– Mapping of premises and restrictions;
– Chronogram;
– Contingency plan.

Stage 3 – Execution

After the strategy has been outlined, the interveners have been laid out, and the project
information has been shared, the time comes for its execution, complying with the work
orders, and the chronogram set out in the previous stages.

Stage 4 – Monitoring and control

The main goal of the stage number four is monitoring and controlling the execution of the
project in the previous stage to assure the occurrences are according to what had been
planned. In case that does not occur, corrective or preventive actions must be taken (which
are on the contingency plan present in stage number two). Therefore, in this stage, the
following analysis must take place:
– Analysis of the project’s performance;
– Evaluation of the variations and recurrent corrective and/or preventing actions;
– Risk auditing;
– Execution of performance reports.

Stage 5 – Closing

The last stage is characterised by the verification of the results obtained. It is a common
practice for the companies or organisations to carry out a final meeting with every intervener
of the project, not only to share the conclusions, but also to suggest improvements in future
projects.

MA Marketing Course Leader

LSDM – London School of Design and Marketing

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