Question

• Identify the five stages of planning and appraisal for major infrastructure projects.  How do each of these five stages affect the outcome of the project?

Answer 1

The five stages of project management are

1. Project initiation
2. Project planning
3. Project execution
4. Project performance
5. Project closure

• The first stage of project management is initiation. It is accompanied by the proposal of an idea for the project. Feasibility study is an important part of initiation. The business project must be relevant and enough time should be there to complete the project. This stage incorporates with feasibility tests. A project Initiation Document (PID) is created and the following stages make use of this document. If the project manager along with his team finds out that the project is not profitable, they will drop the project.
• Setting a goal is the foremost step in planning phase . For This, 2 methods are there - SMART -> Specific Measurable Attainable Realistic and Timely, CLEAR -> Collaborative Limited Emotional Appreciable and Refinable. The Engineers , architects, project managers, etc will work together to make a relevant plan for satisfying the needs proposed by the stakeholders. The estimated cost and other risks are identified.
• Project execution phase is also known as project launch phase. In this phase the real time execution of a project is done. Development meetings, status reports, execution of project management plans, etc are carried out in this phase. For this an efficient project team is assigned by the project manager.
• Performance stage is a phase for monitoring the project. Execution and performance stage goes on hand in hand. Timely monitoring will help to create an efficient project. So project managers use Key Performance Indicators to determine the project is progressing as per the plan or not.
• Project closure is the end of a project. This stage will help in analysing the best team members and their efforts will be rewarded. The hired contractors are no more in agreement with the project. The Project manager will create a project punch list for listing out the unaccomplished things.