Project cycle management is a method of planning and executing projects through phases. We focus on bringing together foundational principles to help make projects successful.
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, you'll learn all about PCM and why it can add value to your projects.
How the Project Cycle Management Works
PCM strengthens the project life cycle by focusing on a well-organised system that has proven results It's organized in phases and lays out specific goals, objectives and expectations for each phase of the project. The PCM ensures projects meet expectations by following the needed steps to successful completion.
When a phase is complete, the new one commences. As a project manager or professional leads his or her team through each phase, they can move their starting point forward until the total project completion.
Project cycle management utilises basic project management principles. It prioritises project structure, a defined phase, clear goals, transparency, risk recognition, and several other components.
The significant positive outcome from using PCM for the project life cycle is a cost-effective, organised process, with quality results on time.
Why Project Cycle Management
Many professionals have felt the weight of the large project on their shoulders. It can seem impossible because it often comes with challenges like tight deadlines and more. When dealing with a team, different partners, and multiple chances for failure, there is a lot of pressure to succeed.
Project cycle management is a proven process that helps eliminate that risk and create a more effective solution. With PCM, professionals can manage projects with confidence throughout the entire project cycle.
There are three main reasons why we use project cycle management.
Simplicity
Improved productivity
Transparency
Are you looking forward to making a mark in the Project Management field? If yes, enrol in the Project Management Fundamental Program now and get a step closer to your career goal!
Simplicity
"Simplify, simplify, simplify." - Henry David Thoreau
The project management cycle simplifies the project. When there are many things happening simultaneously, as there are in a complex situation, simplicity is key. Simplifying the process creates better results and leads to ultimate success. The PCM phases break up the process.
Improved Productivity
"Until we can manage time, we can manage nothing else." - Peter Drucker
When it comes to saving costs, time, and improving quality, effective productivity means everything. When the PCM phases simplify the process, teams can execute the project successfully. And when a project upgrades from "overwhelming" to "we can do this," employee morale and proficiency improve. A more productive project creates a healthy and successful environment.
Transparency
"Transparency is the key ingredient for the successful running of any group" - Vijay Krishna
The PCM helps with the communication in a project. It defines each stage and where your team is along the process so that leaders can communicate better to stakeholders and partners at each stage of the project. The more transparent you are about what you're doing and how things are going, the better chance there is that people will be happy with your progress.
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