Step 1: Initiation
This phase involves defining the project’s purpose, goals, and objectives. It also includes identifying stakeholders, gathering project requirements, and determining if the project is feasible. Key activities include feasibility studies, developing a project charter, and defining the scope of the project.
Step 2: Planning
In this phase, the project plan is developed, outlining the project’s scope, schedule, budget, and resources. It involves breaking down the project into smaller, manageable tasks and defining dependencies between them. Key activities include creating a project plan, assigning roles and responsibilities, and developing a communication plan.
Step 3: Execution
The project plan is put into action, and the work is carried out according to the plan. This phase involves managing resources, tracking progress, and addressing any issues that arise. Key activities include delegating tasks, managing communications, and ensuring quality control.
Step 4: Monitoring & Control
This phase involves tracking project performance, measuring progress against the plan, and adjusting as needed. It also includes managing scope creep, risk, and change requests. Key activities include monitoring key performance indicators (KPIs), conducting regular progress reviews, and documenting lessons learned.
Step 5: Completion
The project is officially completed, and all deliverables are validated and approved. This phase involves closing out contracts, archiving documentation, and conducting a post-project review. Key activities include documenting final outcomes, conducting lessons learned reviews, and ensuring that all stakeholders are satisfied.
EFS: Energy Future Strategies 