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And now, Part Four in our series on project management basics…
Execution (or Implementation)
Once the project Initiation and Planning phases have been completed, you can move to the Execution phase of your project. Some project managers refer to this phase as the Implementation phase. This is where your project tracking software comes in.
The right software can help you, as the Project Manager; track your tasks before, during and after your project. It can also help you manage your resources to ensure no one is overallocated or working over-time. It can help you track company holidays and personal time off through the use of calendars. And, it can track all of your cost data from equipment rental to personnel salary.
Monitoring and Controlling
The fourth phase of project management is closely tied to the third phase, Execution. That's because the art of project management can feel a little like a never ending loop. You plan your project in Phase Two, and then execute your plan in Phase Three. Unfortunately, when you get to Phase Four, in your monitoring of the project progress, you realize your execution did not go according to the plan. Often, this requires a Project Manager to rework the plan, then execute again.
As such, for a little while, you are in a loop between Phases two, three and four until you find an executable plan.
Once the project is complete, Project Managers are responsible for providing detailed summary reports including overall costs and resource work. Many project management software programs are fully capable of providing such reports.
This type of detailed information lays the groundwork for future projects.
One resource on the theory behind project management basics is the Project Management Body of Knowledge, known in project management circles as simply, PMBOK. The Project Management Body of Knowledge was first introduced by the Project Management Institute. You can read more about PMI and PMBOK on their website.
Image courtesy of Yandle.
Miss Part One? Click here to start reading this series of articles on project management basics from the beginning.