5 BASIC PHASES OF PROJECT MANAGEMENT

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Project Management Institute, Inc. (PMI) defines project management as "the application of knowledge, skills, tools and techniques to a broad range of activities in order to meet the requirements of a particular project." The process of directing and controlling a project from start to finish may be further divided into 5 basic phases:

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An idea for a project will be carefully examined to determine whether or not it benefits the organization. During this phase, a decision making team will identify if the project can realistically be completed.
Project Requests
Project Prioritization Scorecard
Approval Flows
Project Initiation + PI
PI increases team efficiency, improves processes and makes collaboration easy through every stage of the project life cycle. Formalize your process for internal project requests or introduce project proposals for clients with personalized forms.

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A project plan, project charter and/or project scope may be put in writing, outlining the work to be performed. During this phase, a team should prioritize the project, calculate a budget and schedule, and determine what resources are needed.
Scope & Budget
Project Schedule
Resource Planning
Project Planning + PI
Strategize the scope of your project PI® templates. Our intelligent scheduling and resource management features help you to visualize and develop a plan for successful project delivery. Baselines ensure you always know when the plan changes.

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Resources' tasks are distributed and teams are informed of responsibilities. This is a good time to bring up important project related information.
Status & Tracking
Issue & Risk Tracking
Project Launch + PI

When your team is ready to launch, PI® helps you manage and control every project. Use project statuses to keep your workflow organized. Efficiently delegate tasks and be proactive in addressing issues or risks within your team.

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Project managers will compare project status and progress to the actual plan, as resources perform the scheduled work. During this phase, project managers may need to adjust schedules or do what is necessary to keep the project on track.
Objectives
Quality Deliverables
Performance
Project Performance + PI

Easily evaluate project performance & milestones with PI®. Get real-time insights about plans versus actuals to make sure all objectives and deliverables are met. All users get instant visibility with our dynamic reporting and robust permissions.

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After project tasks are completed and the client has approved the outcome, an evaluation is necessary to highlight project success and/or learn from project history.
Project Evaluation
Process Assessment
Lessons Learned
Project Closing + PI

Project Insight lets your team formally define when a project is closed. Input lessons learned and evaluate your process to make improvements for the next project.

Projects and project management processes vary from industry to industry; however, these are more traditional elements of a project. The overarching goal is typically to offer a product, change a process or to solve a problem in order to benefit the organisation.

Source: https://www.projectinsight