What are the 5 stages of project management?
The five phases of project management are:
- Initiation: the project is defined and its feasibility assessed;
- Planning: the project plan is developed including scope, timeline, and resources;
- Execution: project activities are carried out and deliverables are created;
- Monitoring and controlling: project performance is tracked and any necessary adjustments are made;
- Closing: involves finalising all project activities, formally completing the project and disbanding the project team.
These 5 project management phases are described in detail in the PMBOK® Guide.
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Project Management Institute (PMI)
The Project Management Institute (PMI) is a nonprofit professional association for project management that develops standards, publishes guidance, supports a global member community, and administers widely used certifications for project managers. It is best known for PMI certifications such as the PMP and CAPM, and for its project management standards including the PMBOK Guide.
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