# Project Management Phases: 5 Clear Steps to Success > The phases of project management—initiation, planning, execution, monitoring, and closure—are key to every successful project. Source: https://asana.com/resources/project-management-phases ## Project management phases: 5 steps to improve your workflow #### Summary There are five key project management phases that can help streamline your next project and enable your team with an organized plan. These phases include initiation, planning, execution, performance, and closure.Project management is often misunderstood. While many professionals view it as managing project timelines, there is so much more to the job. Thankfully, we’ve put together an easy guide to understanding the five project management phases.  Why are the five phases so important to know? Understanding the project management life cycle will help you implement better internal processes using [project management software](https://asana.com/uses/project-management). #### Master AI-Powered Workflow Optimization Ready to revolutionize your team's productivity with AI you can trust? Join industry leaders from Asana and Anthropic to learn proven strategies for implementing AI across your workflow stages and unlock the full potential of Asana's AI Studio. - [Watch the webinar](https://resources.asana.com/how-to-transform-your-workflows) ## What are project management phases? The project management phases break any project into five simple steps: initiation, planning, execution, monitoring, and closure. Think of planning a science fair project in elementary school. First, you’d pick your topic (initiation) and then gather materials and sketch out a timeline (planning). Next, you’d build your model and conduct experiments (execution) while checking your progress to stay on track (monitoring). Finally, you’d present your project and clean up your workspace (closure). These phases form the project management life cycle. They make even big tasks manageable by giving you a clear path from start to finish. ## 5 phases of the project management The 5 phases of project management were defined by the Project Management Institute (PMI) in the Project Management Body of Knowledge (PMBOK® Guide), also known as the project life cycle. The PMBOK® Guide is a great reference point for all professionals looking to grow their project management knowledge and skillset.  Let’s start with a quick introduction to the many phases of project management. Or, skip ahead to the [project management triangle](https://asana.com/resources/project-management-triangle). ### 1. Project initiation In the [initiation phase](https://asana.com/resources/project-initiation) of the project management model, the project is defined on a broad level. This is the time to identify project sponsors and stakeholders and begin the initial research phase. It’s also a good idea to document the project in writing so you can easily distribute the [communication plan](https://asana.com/resources/communication-plan) to the rest of the team. Many teams begin a project with an initial [project kickoff meeting](https://asana.com/resources/project-kickoff-meeting) or [feasibility study](https://asana.com/resources/feasibility-study). How you decide to kick it off should depend on your team’s preferred [communication style](https://asana.com/resources/communication-styles).  In addition to presenting the project's initial idea, you should outline the benefits, costs, and risks associated with [the project's](https://asana.com/resources/what-are-project-deliverables)[deliverables](https://asana.com/resources/what-are-project-deliverables). You may even want to outline additional metrics depending on how your organization measures success.  Once you’ve assessed the project, you’ll then create a [business case](https://asana.com/resources/business-case) or—for smaller projects—a [project charter](https://asana.com/resources/project-charter). These tools can help you outline and pitch your project in-depth, incorporating details such as the project’s goals, budget, and timeline. Whether you create a business case or a project charter, these tools are particularly helpful for referencing later and quickly pinpointing the [project’s objectives](https://asana.com/resources/how-project-objectives) down the road. - [Create a project initiation template](/templates/project-initiation) Here’s an example of what should be included in a business case or project charter: - **Company Name:**_Apollo Enterprises_ - **Project Name:**_The OKR Playbook_ - **Project Manager:**_Kabir Madan_ - **Objective:**_The objective of this report is to increase lead generation by offering world-class resources to our customer base._ - **Stakeholders:**_Daniela Vargas, Kat Mooney, Ray Brooks._ - **Timeline:**_June 1 to July 20, 2021._ - **Benefits:**_The benefits of this report include adopting a new competitive advantage, creating a new lead funnel, and ultimately resulting in a high ROI given the low project budget._ - **Risks:**_While we see more benefits than risks, we could be pulling in unqualified leads that won’t convert._ - [Read: The beginner’s guide to writing an effective business case](/resources/business-case) ### 2. Project planning The project planning phase focuses on setting clear goals using a [project roadmap](https://asana.com/resources/project-roadmap). To get started, consider one of these popular goal-setting strategies: - **SMART goals:** Specific, Measurable, Achievable, Realistic, and Time-bound. This method improves team communication, defines a roadmap, and results in trackable metrics. - **CLEAR goals:** Collaborative, Limited, Emotional, Appreciable, and Refinable. This approach emphasizes collaboration and adaptability, making it practical for dynamic teams. - **OKRs (Objectives and Key Results):** A broader method that aligns goals across an organization. It starts with a high-level objective and creates projects around achieving it, improving visibility for stakeholders. - [Read: Create a better project plan in just 7 steps](/resources/project-management-plan)**Which should you choose?** While each method takes a different approach, they all aim for the same result—effective goal-setting. Pick the one that best aligns with your business objectives. Additional tools like milestone charts, [Gantt charts](https://asana.com/resources/gantt-chart-basics), and [risk management analyses](https://asana.com/resources/project-risk-management-process) can refine your plans. While these areas may have been discovered [during the initial scope of the project](https://asana.com/resources/project-scope), the planning phase is the perfect time to expand on the objectives, goals, and risks.  Here’s an example we put together of a goal breakdown using the SMART project management methodology: **Initial goal:**_Increase lead generation_ **Improved SMART goal:** - **Specific:**_Increase lead generation by distributing a resource guide_ - **Measurable:**_Increase monthly lead generation by 15%._ - **Achievable:**_Based on a recent study, we know our customers are interested in a resource guide._ - **Realistic:**_Collect customer contact information in exchange for our resource guide._ - **Time-Bound:**_Produce an annual resource guide every January to maintain our lead traffic._ ### 3. Project execution The execution phase is where your team works to achieve the objectives defined earlier, launching the project within the specified timeframe through teamwork and collaboration. Start by assigning tasks to team members and adding them to your project workflow in a project management tool. [Timeline software](https://asana.com/product/timeline) and other project mapping tools can help your team [visualize each step of the project](https://asana.com/resources/visual-project-management-kanban-timeline-calendar).  - Prepare your tracking and success methodology by identifying key performance indicators (KPIs) or post-project goals to measure success. Regularly update the [project schedule](https://asana.com/resources/project-timeline-schedules) as deadlines and workloads shift, closing out dependencies as they’re met. - Stay on top of project progress by checking in with team members and prioritizing deliverables. While some fluctuation is inevitable, avoid scope creep by sticking as closely as possible to the original project scope. - [Read: 7 common causes of scope creep, and how to avoid them](/resources/what-is-scope-creep) [Workflow management software](https://asana.com/resources/best-workflow-management-software) can help teams manage handoffs, automate repeatable steps, and track work as it moves through each project phase. Look at this example timeline plan to better understand how to organize a [work breakdown structure](https://asana.com/resources/work-breakdown-structure): **Project Timeline:**_June 1 to July 20, 2021_ **Project Team:**_Kabir Madan, Daniela Vargas, Kat Mooney, Ray Brooks_ - _June 1: Kabir to set up project tasks and assign to team members._ - _June 14: Daniela to gather resource data._ - _June 18: Daniela to organize data and submit to Ray for design._ - _June 28: Ray to submit design draft 1 to Kabir for review._ - _July 1: Kabir to provide design feedback._ - _July 6: Ray to submit the final design to Kat for implementation._ - _July 12: Kat to submit staging site to Kabir for review._ - _July 15: Kabir to provide staging feedback._ - _July 19: Kat to submit the final staging to the team for testing._ - _July 20: Resource guide to go live._ - [Read: 5 project controls and where to implement them](/resources/project-controls) ### 4. Project performance monitoring Effective project monitoring helps teams stay on track and refine their approach by identifying what works and what doesn’t. Regularly evaluating progress during the project phases ensures better outcomes and prevents setbacks. - **Start by revisiting the initial project objectives.** Did the project address the problem it set out to solve? Staying connected to the original goal is essential for evaluating project performance effectively. - **Next, review**[key performance indicators (KPIs)](https://asana.com/resources/key-performance-indicator-kpi) such as return on investment (ROI), cost performance index (CPI), and earned value (EV). These metrics help determine whether the project met its goals. - **Finally, share your findings with stakeholders** to ensure a successful project. Honest communication about successes and challenges fosters team growth and lays the groundwork for improvements in future projects. Look at our example KPIs below:  - **Project Objective:** Grow lead acquisition by 15% MoM - **Actual Cost:** $6,487 in billable hours.  - **Earned Value:** $47,300 in MoM acquisition growth - **Return on Investment:** $40,813 - **Schedule Performance Index (earned value divided by planned value):** .88 - **Customer Acquisition Cost (cost divided by number of leads):** $.61 per lead - **MoM Lead Acquisition:** 18% improvement - **MoM Site Traffic:** 4% improvement - **Net Profit Margin:** 8% improvement - [Read: What is a key performance indicator (KPI)?](/resources/key-performance-indicator-kpi) ### 5. Project closure The [project closure phase](https://asana.com/resources/project-closure) varies across teams. While some teams choose to celebrate their hard work, others jump directly into the next big thing. No single approach is right or wrong—choose what works best for your team. **Key steps for closing a project:** - **Host a**[postmortem](https://asana.com/resources/project-post-mortem-tips)**with**[project stakeholders](https://asana.com/resources/project-stakeholder)**.** Review KPIs from the project performance monitoring phase to identify successes and areas for improvement. Consider sending an anonymous survey beforehand to ensure all critical issues are addressed. - **Organize and store project materials.** Save documents like [project briefs](https://asana.com/resources/project-brief), templates, dashboards, design files, and other key resources in a shared folder for future reference. - **Continue monitoring performance.** Avoid “set it and forget it” habits. Regularly review old projects for insights and opportunities to improve your workflows and grow as a team. By taking these steps, your team can learn from every project and ensure better results for future projects. Here is an example of a postmortem meeting agenda to help bring your next project to a close:   **Project Name:**_The OKR Playbook_ **Date:**_August 20, 2021_ **Time:**_10:00 to 11:00 am CST_ **Agenda Details:** - **Quick recap of the project (10:00am):**_Kabir will go over the initial goals and objectives of the project and recap deliverables._ - **Recap of the outcome (10:15am):**_Kabir will review the project performance, focusing on our initial lead generation goal and additional key KPIs._ - **Stakeholder input (10:30am):**_Kabir, Daniela, Kat, and Ray to share their input on what went well and what could have gone better._ - **Action items:**_Kabir to send out meeting notes by EOD 8/20 and schedule optimizations to be completed by 9/3._ _Please come to the postmortem prepared with input on ways we can improve performance going forward._ ## Why are the project management phases important? Managing a project without structure can lead to missed deadlines, budget overruns, or misaligned goals. The five phases of project management—initiation, planning, execution, monitoring, and closure—offer a proven framework to ensure every aspect of the project is methodically addressed for project success. Here’s why these phases matter: - **Clear direction from the start:** The initiation phase defines the project scope and aligns stakeholders. For instance, a new product development project begins with a clear concept and stakeholder buy-in. - **A game plan that works:** The planning phase builds a roadmap with a project management plan, outlining tasks, timelines, and resources. Tools like a work breakdown structure (WBS) keep everyone on the same page. - **Getting the job done right:** The execution phase is where the real work happens. Teams use Agile or Scrum to adapt in real-time, minimizing bottlenecks and keeping the project moving forward. - **Keeping everything on track:** In the monitoring phase, KPIs and project management tools help track progress, avoid scope creep, and ensure the project stays on budget. - **Ending strong and learning for next time:** The closure phase wraps up deliverables, [captures lessons learned](https://asana.com/resources/lessons-learned), and saves key project documentation to make future projects even better. By following these phases of project management, teams optimize workflows, mitigate risks, and set the stage for consistent project success. ## Tips to apply project management phases effectively Want to make the most of the project management life cycle? Here’s how to apply each of the project management stages for maximum impact: - **Initiation:** Use a template to define the project scope, objectives, and stakeholders. A clear start sets the tone for success. - **Planning:** Create a project management plan using tools such as Gantt charts or Kanban boards to map tasks, timelines, and dependencies. - **Execution:** Use collaboration tools to streamline workflows and keep your team members on track. Regular check-ins are key. - **Monitoring:** Track KPIs and progress with dashboards or real-time tools. Adjust as needed to avoid bottlenecks. - **Closure:** Wrap up with a post-mortem and save all project documentation to refine your process for the next project. By focusing on these actionable steps, you’ll keep your team aligned and ensure a successful project every time. - [Read: What are the benefits of project management?](/resources/benefits-project-management) ## Take control of your project management phases today With so many elements to explore, where do you even start? That’s easy: start by looking to your team. At the end of the day, your job is to enable team members to do their best work.  The project management process and tools you implement should improve communication, increase productivity with the help of [productivity software](https://asana.com/uses/increase-productivity), and help ease deadline pressure. When in doubt, just ask your team. You’d be amazed at what a group of individuals can accomplish when they put their heads together.  _Need help finding_[work management tools](https://asana.com/uses/work-management)_for a specific team? Check out solutions for_[every team dynamic](https://asana.com/teams)_—from marketing to event planners—to find innovative opportunities for your organization._ ## FAQs about the phases of project management #### What is the difference between project phases and project life cycle? Project phases are the individual stages within a project, such as initiation, planning, execution, monitoring, and closure. The project life cycle encompasses all these phases as a whole, representing the complete journey of a project from start to finish. #### What happens during each stage of project management? During initiation, the project’s scope and objectives are defined. In planning, a roadmap is created to guide the project. The project execution phase involves completing tasks and deliverables while monitoring progress and adjusting as needed. Finally, the project closing phase finalizes the project and evaluates performance. #### What is the role of a project manager in each stage of the project life cycle? In initiation, the project manager defines goals and secures stakeholder buy-in. During planning, they develop the project schedule and allocate resources. In execution, they oversee workflows and ensure tasks are completed. During monitoring, they track KPIs and make adjustments to avoid bottlenecks. In closure, they review outcomes, document lessons learned, and ensure deliverables meet expectations. #### How do you determine the start and end of each project phase? The start of each phase begins when the key objectives of the previous phase are completed and approved. For example, the planning phase starts after the project scope is finalized in initiation. The end of a phase is marked by achieving its specific deliverables, such as a finalized project plan or completed project deliverables. #### How do you implement the project management life cycle in your projects? Start by defining the project scope, objectives, and stakeholders during initiation. Develop a detailed project roadmap and allocate resources in planning. Use tools and methods like Agile or Scrum to execute tasks and track progress in real time. Regularly monitor KPIs and adjust the project schedule as needed. Finally, review the project outcomes during closure to capture lessons for future projects. #### How do the phases of project management improve project outcomes? The structured approach of project management phases ensures every aspect of a project is addressed systematically. This reduces risks, aligns stakeholders, improves team collaboration, and keeps the project on track. By breaking the project into clear steps, teams can focus on achieving measurable goals, leading to more successful projects. #### How do project phases differ for small vs. large projects? Small projects often have streamlined phases, with overlapping steps and quicker timelines. Large projects typically require more detailed planning, resource allocation, and monitoring. The tools and methods used may also differ, with larger projects relying on more robust project management software and methodologies to handle complexity. #### How do you adapt the project management steps for remote teams? 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