What are the stages of project management?

  1. Project planning
  2. Project cost management
  3. Project reporting
  4. Project performance
  5. Revenue reports

there are 5 main stages of project management. The stages in project management begins with creating a project plan, whereby the work requirements are divided into the subsequent tasks and assigned a start and end date. At this stage, the work description is included, whereby a project manager is assigned and expected to manage the project progress. The second stage is project cost management which involves defining the financial requirements in a project. The project manager creates a budget for each task and the cumulative budget is automatically calculated by the project management software. As the project progresses, the items used are reported online and the project expense reports generated, in comparison to the initial budget. This step requires the knowledge of the item prices, which is initially set when creating the company account for project management online. The third stage in project management is project reporting, whereby each team member makes work report on regular basis. The reports include the tasks performed, the expenses in the task and the overall comments. At this point, online project reporting tools helps you to attach files showing the work done. Once the project milestone and tasks are completed, the performance is automatically calculated, whereby the performance of each team member is generated based on adherence to task deadlines. The final stage is project management is evaluation of revenue reports. In this case the project management software will generate reports on expenses and compare to the budget. Hence, the system helps the manager in all stages, whereby effective communication among team member is a vital element.

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