While the term is a bit of a mouthful, it\u2019s not as complicated as it sounds. It\u2019s all about systemizing how you create a battle plan for any new project.<\/p>\n
In this article, we\u2019ll show you, step-by-step, how to create a project management process that works.<\/p>\n
Get started with monday.com<\/a><\/p>\n According to the Project Management Body of Knowledge<\/a> (the awkward acronym PMBOK), all project management processes fall under an umbrella of 5 main phases or process groups.<\/p>\n We know it sounds a bit dry, but it\u2019s a helpful framework for getting a high-level view of all processes, so let’s run through it…<\/p>\n In a traditional framework like PMBOK, this all happens before you commit to a new project. A team will develop a project charter, pitch it to management, and get it approved.<\/p>\n This all has to happen before entering a stage of detailed project planning.<\/p>\n If you let it drag out, this project phase can take weeks. So many startups whittle it down to a single meeting instead, quickly outlining and evaluating whether to pursue a project.<\/p>\n When you\u2019re planning your project, you need to go deep and get a realistic view of the scope and your timeline.<\/p>\n Why bother, you ask?<\/p>\n The alternative is\u2026 not great:<\/p>\n New companies fail to meet project goals almost half of the time, and 54% of their projects exceed the budget.<\/p><\/blockquote>\n (Image Source<\/a>)<\/p>\n Not to mention that many projects fail outright. Better planning can help you avoid failure and complete projects on time and within budget.<\/p>\n Before executing a project, be sure you’ve considered all relevant factors, including:<\/strong><\/p>\n If you\u2019re working on a smaller project with more flexible deliverables, you don\u2019t need to spend as much time here. For example, a more agile approach is suitable for a new landing page or app version.<\/p>\n Planning is important, but it doesn\u2019t matter if you slip up in the execution phase.<\/p>\n According to KPMG and IPMA, only 19%<\/a> of organizations deliver successful projects most of the time.<\/p>\nExecution is key. Assign ownership of tasks and small goals to ensure your team stays the course. Create a culture of productivity with daily progress meetings.<\/span><\/a>\n Monitoring progress and bottlenecks is a great way to catch anything you might have missed in the planning phase.<\/p>\n But you need a better way to track progress than just major milestones like project deliverables.<\/p>\n The answer is a workflow where you track tasks and sub-items in real time. It\u2019ll give your managers a much better overview of the project.<\/p>\n For physical products or events with expenses and hard deadlines, a WBS board<\/a> might be a good idea:<\/p>\n After you\u2019ve finished the project, you need to evaluate the overall performance.<\/p>\n You should also dial in on individual project team members and their contributions.<\/p>\n Of course, the PMBOK framework isn\u2019t the only way to manage projects<\/a> in 2022. You have other options, like Agile, Kanban, and more.<\/p>\n Get started<\/a><\/p>\n Agile and PMBOK are two completely different sides of the project management spectrum.<\/p>\n We could go on and on about the differences, but we\u2019d need to write a second blog post. Luckily, a picture is worth a thousand words.<\/p>\n Comparing the methods through a flow chart will help you get a better feel for the key differences between the two models:<\/p>\n As you can see, the Agile approach is all about the feedback loop and adapting on the fly. There\u2019s less focus on top down planning, and fewer potential bottlenecks \u2014 no waiting on managers to sign off on things.<\/p>\n PMBOK is all about quality control and slowly, securely, taking each step forward. This makes sense for physical consumer products or large scale B2B companies. You don\u2019t want to get sued, after all.<\/p>\n Don\u2019t just jump into a framework without a second thought.<\/p>\n Making this choice means committing to a lengthy process. And changing that process down the line can be complicated, as it requires fundamentally changing the way your business works.<\/p>\n You need to consider project-model fit before going all in on PMBOK, Lean, or Agile.<\/p>\n Here are a few steps to help you make the right choice:<\/p>\n Are you adding a couple of features, or developing a completely new product?<\/p>\n Where would your project fall on the McKinsey\u2019s 3 horizon model?<\/p>\n The scope will determine if you need to hire new staff or request additional funds from your CFO.<\/p>\n Use stakeholder analysis<\/a> to figure out which customers should care most about the upcoming project.<\/p>\n Who will the new features, app, or product deliver the most value to?<\/p>\n Invite them to key planning meetings and interview them about their needs and goals.<\/p>\n Instead of messing around with spreadsheets, you can use monday.com\u2019s stakeholder register template<\/a>:<\/p>\n Get started<\/a><\/p>\n Unfortunately, we can\u2019t tell you which framework will work best for your project. There\u2019s no one-size-fits-all option.<\/p>\n Choose the project management methodology<\/a> that best lines up with the scope and goals of your project.<\/p>\n If you\u2019re developing a new product and need to establish a team, hire new staff, and spend a large amount of money, following the PMBOK model might make sense.<\/p>\n If you\u2019re working closely with customers to improve an existing product with a single team, you want something faster and more dynamic.<\/p>\n After all, you don\u2019t want to meticulously plan process group by process group for a few bug fixes.<\/p>\n Once you\u2019ve decided how to plan and execute the project, it\u2019s time to start planning.<\/p>\n If you\u2019ve chosen a traditional method, you need to develop a step-by-step work plan<\/a>.<\/p>\n Monday’s work plan template<\/a> can help you out here:<\/p>\n With an Agile methodology, your plan may only extend to immediate goals and features listed in a specific Sprint backlog<\/a>.<\/p>\n Other tasks are typically relegated to the general product backlog<\/a>. You then use the general backlog to plan other Sprints, continuing the project lifecycle.<\/p>\n Jumping into project management without due process can easily backfire. You might create a roadmap that actually slows your team down, rather than guides it forward.<\/p>\n Even if you do it right, following through is the real challenge. Our smart features make it easy to stay on track. You can easily assign ownership, set and adjust deadlines, and create unique color codes for task priority.<\/p>\n We help you get more done. It\u2019s that simple. And regardless of which PM framework you choose, we\u2019ve got a template for that. For example, the high-level project plan<\/a> works perfectly with a traditional waterfall approach.<\/p>\n Mismanaging a project is a great way to lose money and waste time. A comprehensive project management process can guide your team and keep them productive. While the term is a bit of a mouthful, it\u2019s not as complicated as it sounds. It\u2019s all about systemizing how you create a …<\/p>\n","protected":false},"author":5,"featured_media":18078,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"pages\/cornerstone-primary.php","format":"standard","meta":{"_acf_changed":false,"_yoast_wpseo_title":"The 5 project management process phases: a step-by-step guide","_yoast_wpseo_metadesc":"Learn the 5 essential phases of the project management process. Our step-by-step guide covers everything from initiation to closure to help you deliver projects on time and on budget.","monday_item_id":18059573667,"monday_board_id":0,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[13904],"tags":[],"class_list":["post-16805","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-project-management"],"acf":{"lobby_image":false,"post_thumbnail_title":"","hide_post_info":false,"hide_bottom_cta":false,"hide_from_blog":false,"cluster":"","banner_url":"","main_text_banner":"","sub_title_banner":"","sub_title_banner_second":"","banner_button_text":"","below_banner_line":"","display_dates":"updated","post_date":"20230101","landing_page_layout":false,"featured_image_link":"","use_customized_cta":false,"display_subscribe_widget":false,"custom_schema_code":"","sidebar_color_banner":"","custom_tags":false,"disclaimer":"","faqs":[{"faq_title":"FAQs","faq_shortcode":"FAQ_tag","faq":[{"question":"What is the difference between a project management process and a project plan?","answer":" A project management process is the overall framework or lifecycle that guides a project from start to finish, typically consisting of five phases: initiation, planning, execution, monitoring, and closure. A project plan, on the other hand, is a detailed document created during the planning phase that outlines the specific scope, goals, timeline, budget, and resources for a particular project.<\/p>\n"},{"question":"What is the most important phase in the project management process?","answer":" While all five phases are crucial for a project's success, the planning phase is often considered the most important. A thorough and realistic project plan serves as the foundation for the entire project. Poor planning can lead to scope creep, budget overruns, and missed deadlines, making it difficult for the project to succeed even with excellent execution.<\/p>\n"},{"question":"How do you implement a new project management process for a team?","answer":" Implementing a new process involves several steps: 1. Get buy-in from leadership and the team by explaining the benefits. 2. Define the process clearly, including roles and responsibilities. 3. Choose a flexible platform like monday.com to support the new process. 4. Provide training and resources. 5. Start with a pilot project to test and refine the process. 6. Gather feedback and make adjustments as needed.<\/p>\n"},{"question":"Can the project management process be adapted for Agile methodologies?","answer":" Yes, absolutely. While the 5-phase model is often associated with traditional Waterfall projects, the core concepts apply to Agile as well. In an Agile environment, these phases occur in smaller, iterative cycles called sprints. Each sprint goes through its own mini-lifecycle of planning, execution, monitoring, and closure (review), allowing for continuous feedback and adaptation throughout the project.<\/p>\n"}]}],"activate_cta_banner":false,"hide_time_to_read":false,"cornerstone_hero_cta_override":{"label":"","url":""},"sections":[{"acf_fc_layout":"content_1","blocks":[{"main_heading":"","content_block":[{"acf_fc_layout":"text","content":" Mismanaging a project is a great way to lose money, waste time, and demotivate your team. Without a clear roadmap, even the best ideas can get lost in chaos, leading to missed deadlines and budget overruns. The key to avoiding this is a standardized project management process.<\/p>\n A comprehensive project management<\/a> process acts as a guide for your team, keeping everyone aligned and productive from start to finish. It\u2019s all about systemizing how you plan and execute any new project, ensuring every step is deliberate and effective.<\/p>\n In this article, we\u2019ll walk you through the 5 essential phases of a project management process that actually works. We\u2019ll also show you how a Work OS like monday.com can help you implement each phase seamlessly.<\/p>\n TL;DR:<\/strong> A project management process is a structured, 5-phase approach (Initiation, Planning, Execution, Monitoring, and Closure) that guides projects from idea to completion, ensuring teams stay aligned, on budget, and on schedule.<\/p>\n"}]},{"main_heading":"What is a project management process?","content_block":[{"acf_fc_layout":"text","content":" A project management process is a series of sequential phases that guide a project from its initial concept to its final delivery. Think of it as the project\u2019s lifecycle. This structured approach ensures that projects are planned, executed, monitored, and completed in an organized and efficient manner.<\/p>\n This entire sequence is often called the project management life cycle. Each phase has its own set of tasks, goals, and deliverables, which helps break down a large project into smaller, more manageable stages. By following a defined process, teams can maintain control, manage resources effectively, and increase the likelihood of achieving the project\u2019s objectives.<\/p>\n"}]},{"main_heading":"Why a standardized project management process is crucial for success","content_block":[{"acf_fc_layout":"text","content":" Jumping into a project without a standardized process is like trying to build a house without a blueprint. You might get a structure up, but it\u2019s unlikely to be stable, on-time, or within budget. A standardized process provides the framework everyone on the team needs to succeed.<\/p>\n Here\u2019s why it\u2019s so important:<\/p>\n According to the Project Management Body of Knowledge (PMBOK), all project management processes fall under an umbrella of 5 main phases or process groups. Let\u2019s break down each one.<\/p>\n"}]},{"main_heading":"Phase 1: Project initiation","content_block":[{"acf_fc_layout":"text","content":" The initiation phase is where a project is formally defined and authorized. Before you commit to a new project, your team will develop a project charter or business case. This document outlines the project\u2019s purpose, goals, scope, stakeholders, and potential risks. It\u2019s the foundational step to get buy-in from management and secure the necessary resources.<\/p>\n During this phase, it\u2019s also critical to perform a stakeholder analysis<\/a> to identify everyone who will be affected by the project and understand their expectations. If this stage drags on, it can take weeks, so many teams whittle it down to a single meeting to quickly evaluate whether to pursue a project.<\/p>\n"},{"acf_fc_layout":"text","content":" With monday.com, you can use customizable Forms to standardize project requests, ensuring you get all the necessary information from the start. You can then use a template to quickly build a project charter in monday workdocs, collaborating with your team in real-time to get everyone aligned and approved faster.<\/p>\n Start your next project right. to define your goals and get stakeholder buy-in.<\/p>\n"}]},{"main_heading":"Phase 2: Project planning","content_block":[{"acf_fc_layout":"text","content":" Once a project is approved, it\u2019s time for detailed planning. This is arguably the most critical phase, as it lays the groundwork for the entire project. A lack of planning is a major reason why many projects fail to meet their goals or exceed their budget.<\/p>\n"},{"acf_fc_layout":"image","image_type":"normal","image":12195,"image_link":""},{"acf_fc_layout":"text","content":" Before executing a project, be sure you\u2019ve developed a step-by-step work plan<\/a> that considers all relevant factors, including:<\/p>\n monday.com offers powerful features to make planning easier. You can use our Work Plan template<\/a> to get started quickly. Visualize your entire project timeline with the Gantt view, manage dependencies automatically, and use the Workload widget to ensure tasks are distributed evenly across your team. All your planning documents, timelines, and budgets can live in one central place.<\/p>\n Build a flawless project plan. .<\/p>\n"}]},{"main_heading":"Phase 3: Project execution","content_block":[{"acf_fc_layout":"text","content":" The execution phase is where the plan is put into action. The project team gets to work on the tasks and activities outlined in the project plan to produce the deliverables. This phase is all about managing teams, communicating with stakeholders, and ensuring the work is getting done correctly and on time.<\/p>\n Planning is important, but it doesn\u2019t matter if you slip up in the execution phase. According to the Project Management Institute, poor project performance can waste up to 11.4% of an organization\u2019s investment. To stay on course, it\u2019s crucial to assign clear ownership of tasks, set small goals, and maintain a culture of productivity with regular progress meetings or check-ins.<\/p>\n"},{"acf_fc_layout":"text","content":" During execution, monday.com keeps your team connected and on track. You can assign tasks to team members, set deadlines, and attach all necessary files and context directly to each item. Automations handle repetitive work, like notifying a team member when a task is ready for review or moving an item to the next stage. Integrations with tools like Slack, Gmail, and Microsoft Teams mean all communication stays connected to your work.<\/p>\n"}]},{"main_heading":"Phase 4: Project monitoring and controlling","content_block":[{"acf_fc_layout":"text","content":" The monitoring and controlling phase runs simultaneously with the execution phase. It involves tracking project progress, managing changes, and ensuring that the project stays on schedule and within budget. This is where you measure performance against the project plan and identify any deviations or potential issues, like scope creep.<\/p>\n To do this effectively, you need a better way to track progress than just major milestones. A workflow where you track tasks and key performance indicators (KPIs) in real-time will give managers a much better overview of the project. For projects with hard deadlines and expenses, a Work Breakdown Structure (WBS) board<\/a> can be a good idea.<\/p>\n"},{"acf_fc_layout":"image","image_type":"normal","image":12197,"image_link":""},{"acf_fc_layout":"text","content":" monday.com makes monitoring effortless with customizable Dashboards<\/a>. You can build high-level dashboards with over 10 widgets to track KPIs, budgets, timelines, and more in real-time. Get instant status updates without having to chase down your team, and make data-driven decisions to keep your project on the path to success.<\/p>\n Stop chasing status updates. to track progress and KPIs at a glance.<\/p>\n"}]},{"main_heading":"Phase 5: Project closure","content_block":[{"acf_fc_layout":"text","content":" The final phase of the project management process is closure. This is where the project is formally closed out, deliverables are handed over to the client or stakeholders, and the team is released. It\u2019s also a critical time for reflection and learning.<\/p>\n You should evaluate the overall performance of the project. Did you follow the project plan? Did you meet the deadlines and stay within budget? You should also analyze the contributions of individual team members and document lessons learned. This information is invaluable for improving processes on future projects.<\/p>\n"},{"acf_fc_layout":"text","content":" With monday.com, you can easily generate final reports from your dashboards to share with stakeholders. Use a monday workdoc to create a project post-mortem, capturing what went well and what could be improved. Once everything is complete, you can archive your project boards, keeping all the historical data accessible for future reference.<\/p>\n"}]},{"main_heading":"Choose the right methodology for your process","content_block":[{"acf_fc_layout":"text","content":" The 5-phase model provides the \u2018what,\u2019 but a project management methodology provides the \u2018how.\u2019 There\u2019s no one-size-fits-all option, so you need to choose the project management methodology<\/a> that best lines up with the scope and goals of your project.<\/p>\n For example, if you\u2019re developing a new product with a large budget and team, a traditional, sequential methodology like Waterfall (which aligns closely with the PMBOK model) might make sense. It\u2019s all about quality control and taking each step forward securely.<\/p>\n"},{"acf_fc_layout":"image","image_type":"normal","image":12199,"image_link":""},{"acf_fc_layout":"text","content":" On the other hand, if you\u2019re working closely with customers to improve an existing product, you want something faster and more dynamic. An Agile approach, with its focus on feedback loops and adapting on the fly, is more suitable. With Agile, your plan may only extend to immediate goals listed in a specific Sprint backlog<\/a>, with other tasks relegated to the general product backlog<\/a>.<\/p>\n"}]},{"main_heading":"Build a better process with monday.com","content_block":[{"acf_fc_layout":"text","content":" Jumping into project management without a clear process can easily backfire. By implementing the 5 phases of the project management process, you create a roadmap that guides your team forward instead of slowing it down.<\/p>\n Ready to build a process that works? With monday.com, you can manage every phase of your project lifecycle on one flexible platform.<\/p>\n"}]}]}],"show_sidebar_sticky_banner":true,"parse_from_google_doc":false,"show_contact_sales_button":"default","custom_header_banner":false,"menu_cta_override":{"label":"","url":""},"override_contact_sales_label":"","override_contact_sales_url":""},"yoast_head":"\nWhat are the 5 project management processes?<\/h2>\n
#1. Project initiation<\/h3>\n
#2. Project planning<\/h3>\n
![\"Organization](\"https:\/\/www.monday.com\/blog\/wp-content\/uploads\/2020\/09\/image6-10.png\" "\\"Organization")
<\/p>\n\n
#3. Project execution<\/h3>\n
#4. Project monitoring<\/h3>\n
![\"WBS\"](\"https:\/\/www.monday.com\/blog\/wp-content\/uploads\/2020\/09\/Project-WBS-1024x764.jpg\" "\\"Project")
<\/p>\n#5. Analysis and closure<\/h3>\n
\n
PMBOK vs. Agile project management process flow chart<\/h2>\n
Getting started: 4 foundational project management process steps<\/h2>\n
#1. Evaluate the scope of the project<\/h3>\n
\n
#2. Figure out the needs of your stakeholders (clients and users)<\/h3>\n
![\"stakeholder](\"https:\/\/www.monday.com\/blog\/wp-content\/uploads\/2020\/09\/image5-12.png\" "\\"Stakeholder")
<\/p>\n#3. Choose a methodology that matches goals and scope<\/h3>\n
![\"Project](\"https:\/\/www.monday.com\/blog\/wp-content\/uploads\/2020\/09\/image2-10.png\" "\\"Project")
<\/p>\n#4. Create your project plan<\/h3>\n
\n
![\"Monday's](\"https:\/\/www.monday.com\/blog\/wp-content\/uploads\/2020\/09\/image3-12.png\" "\\"Work")
<\/p>\nLaying the foundations for project management process success<\/h2>\n
![\"high-level](\"https:\/\/www.monday.com\/blog\/wp-content\/uploads\/2020\/09\/image1-9.png\" "\\"High")
<\/p>\n","protected":false},"excerpt":{"rendered":"What is a project management process?<\/h2>\n
Why a standardized project management process is crucial for success<\/h2>\n
\n
The 5 phases of the project management process<\/h2>\n
Phase 1: Project initiation<\/h3>\n
How monday.com streamlines project initiation<\/h4>\n
Phase 2: Project planning<\/h3>\n
\n
How monday.com simplifies project planning<\/h4>\n
Phase 3: Project execution<\/h3>\n
How monday.com powers project execution<\/h4>\n
Phase 4: Project monitoring and controlling<\/h3>\n
How monday.com provides real-time project monitoring<\/h4>\n
Phase 5: Project closure<\/h3>\n
How monday.com helps with project closure<\/h4>\n
Build a better process with monday.com<\/h2>\n