Everything You Need to Know About Project Cycle Management.

 A project cycle management process is a method that has been in development for over a decade, providing organizations with the ability to plan and execute projects through strong foundational principles and defined phases.

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There are many benefits to the cycle. You can expect -

  • Clarity and measurable goals

  • Well-calculated risks

  • Efficient resource management 

  • Better efficiency, leading to savings in time and cost

  • Better likelihood of meeting expectations

  • The more effective rate of timely project completion and delivery

In this article, we talk about how PCM can be used in any project and how it will make it better.

How the Project Cycle Management Works

PCM is an organization that helps people create sound projects. We start with a clear system and work on a focused process that's proven to be successful. For each phase, we lay out a set of goals and expectations, as well as best practices. This lets us meet all the client's objectives, so they end up satisfied with our work.

When a phase is complete, a new one commences. A person leading a team can start and end each phase, moving their starting point forward until all phases are complete.

Project cycle management helps managers with keeping their projects in order. It includes avoiding problems and challenges by following the right steps.

The significant positive outcome from using PCM for the project life cycle is a cost-effective, organized process, with quality results on time.  

Why Project Cycle Management

When we are faced with a major project, it is easy to get overwhelmed. A lot of people might think it is impossible, but with the right help, we can accomplish anything.

Project cycle management is a proven process that eliminates risk and creates more effective solutions, so professionals can feel in control the entire time.

There are three main reasons why we use project cycle management.

  • Simplicity

  • Improved productivity

  • Transparency

Simplicity

"Simplify, simplify, simplify." - Henry David Thoreau

The project cycle management process, with its phases, simplifies the project. In a complex situation where many components are working simultaneously, simplicity is critical. When leaders can simplify the process, this creates better results and greater success.

Improved Productivity

"Until we can manage time, we can manage nothing else." - Peter Drucker

When people are more productive, they save time and money. They also improve the quality of their work. The process becomes effective and efficient when you use the PCM phases. When employees believe in their work, morale improves and productivity goes up. More than just a project, an environment that is productive can be healthy too.

Transparency 

"Transparency is the key ingredient for the successful running of any group" - Vijay Krishna 

When managing projects, it can be difficult to communicate along the way. The PCM uses clear methods to define each phase and where teams are along the process. This helps leaders communicate with stakeholders, partners, and interested parties relevant to the project. A transparent and effectively communicated project lets everyone know what is going on and encourages high expectations and goals.

The Phases of Project Cycle Management 

The PCM helps managers communicate effectively with stakeholders. The PCM defines each step in the process and helps people understand where the project is at any given time. A transparent, clearly communicated project keeps everyone informed on what is happening and encourages high expectations for success.

The phases of project cycel are:

  • Initiation

  • Planning and design

  • Execution

  • Monitoring and controlling

  • Closure

Initiation

Every project starts with a simple idea. The initiation phase nurtures that idea and helps develop the big picture, scope, and objective of the project. Managers review key project controls before starting a project, assess what will be needed to complete it, and make any necessary improvements to the original idea.

Planning and Design

Every project starts with a single idea. The initiation phase helps develop the scope and objectives of the project by reviewing key controls and making any necessary changes to the original thoughts.

Execution

The longest stage in the project life cycle, execution is where the team will work on the project to deliver a quality product. The previous phase clearly defines each step of the way so that they can execute accurately.

Monitoring and Controlling

There are different scenarios for the best case, and the worst case, and a good plan ensures managers can plan for both. The monitoring and controlling phase is the walkthrough process that tracks progress to make sure problems are solved promptly and that the timeline is still positioned to meet its goal. This phase is all about balance since too much control can take up too much time, while too little control can increase risk.

Closure

In the event that a project is not completed properly, it can continue to drain resources and cause problems. A closure will lead to the formal steps with the employer and worker to end and deliver the final project. This is an important step to gain feedback and assess how good the output was.

Take Your Career to New Heights

Project managers should learn about project cycle management, as it can help them be more successful in their jobs. The PMP Certification Training Course provides the skills and knowledge to be successful in any project-related position.

Read-7 Essential Project Management Skills for 2022

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