In this lesson, we'll outline and explain the project execution phase of the project management lifecycle. We'll also discuss an example of how the execution stage is implemented in project management.
The Execution Phase
The execution phase is the third phase of the project management lifecycle, and it's usually the longest phase of the project. During the execution phase, the project team develops the product or service and presents the final product to the customer. The execution phase is the longest in duration because there are three primary steps with eight sub-phases. The three primary phases include building the deliverables, monitor and control, and review. Let's explore each phase in detail.
The Three Execution Phases
The three phases are as follows:
1. Build Deliverables
Jay has completed the first two phases of his new project. He's now at the execution phase, where he and the project team must build the actual product for the customer. Jay begins by reviewing the customer requirements for the product, and finds he is responsible for building three desks for a new office. Because the project team has to make each desk, Jay must allocate and monitor the time it takes for his project team to complete each task. Jay must also ensure the project team builds each desk according to what the customer wants.
2. Monitor and Control
The monitor and control phase is the longest part of the execution phase because Jay must follow several steps to ensure the project team meets the customer's requirements and a quality product is delivered. During the monitor and control phase, Jay follows a few management process steps to ensure the project is operating on time and within budget.
Time management: During the time management process, Jay documents how long each project team member spends on each project task. Jay controls the amount of time his team members spend working on each activity and monitors the amount of overtime spent on one task. Jay documents his time on a timesheet register, which Jay shares with stakeholders at the end of the project.
Cost management: Costs are a huge concern for Jay because he was given a budget for the desk project and wants to make sure he does not go over the budget. Jay must identify the expenses required for each task and pay according to the project schedule. Each expense is approved by Jay and kept on an expense register.
Quality management: Jay's customer was very specific about the quality of the supplies used during the project. Each desk must meet certain quality standards, and Jay must assure quality reviews are conducted. Quality reviews are frequent audits of the product to ensure it meets specific parameters as indicated by the project and customer requirements.
Change management: If a change in the project's scope of work, cost, or schedule is required, Jay must formally request the change and get the changes approved. This is called the change management process in project management. A change register is used to record all changes made throughout the project.
Risk management: This involves handling the potential disadvantages and drawbacks that may arise during a project. Every project has risks, and Jay's project is no different. In fact, one of the risks of Jay's project is a shortage of supplies for each desk. The supplier Jay uses to build each desk has run out of the boards needed to make the desk. Jay is also responsible for managing all project-related risks, and each risk is recorded in the risk register.
Procurement management: Jay must purchase supplies from various suppliers, and each supplier requires a purchase order to produce supplies for the project team. Procurement management is the process of managing orders requested and received from each supplier of the project.
Acceptance management: Acceptance management is the process by which the project team gains acceptance of the final deliverables from the customer. As the project manager, Jay must manage customer expectations and make any changes the customer requires.