MANAGING PROFESSIONAL SERVICES PROJECTS:OVERVIEW OF THE PROJECT MANAGEMENT PROCESS

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2. OVERVIEW OF THE PROJECT MANAGEMENT PROCESS

The Phases of Project Management

The project management process includes four phases:

• Phase I: project definition

• Phase II: project planning

• Phase III: project monitoring and control

• Phase IV: project close

Each phase has its purpose and the phases are linked in order. In fact, Phases I through III tend to be iterative. For example, some level of project planning is required to develop reasonably accurate,

high-level estimates of project time and cost during project definition. Likewise, during project ex- ecution, the monitoring and control process may identify situations that will require changes in the project plan and possibly even in the project definition.

3.3. Relationship of Phases to the Delivery of Professional Services

In the professional services context, the project definition serves as the proposal to the client or the statement of work (SOW) issued by the client. Subsequent to any negotiations, the client formally accepts the proposal (or the firm formally accepts the SOW); in many cases a formal contract is executed, often incorporating the proposal or SOW. Detailed project planning then begins.

The project plan sets out the work steps, schedule, resources, and budget necessary to successfully conduct the project. The plan then becomes the basis for routinely monitoring and measuring progress during project execution and applying appropriate controls, when necessary, to make sure the project stays on track.

The project close phase seeks to determine whether the client is satisfied with the results of the work and ensures that the client understands and agrees that the project has been completed.

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