Project Management Template

The ability to manage projects is very crucial, especially in the world of consulting.  Unfortunately, based on my personal observation, project management is not taught in many business schools (especially the one I graduated from).To help would-be project managers, I am posting a simple template I use when managing the various projects at work.

Every project has five distinct phases: Creation, Preparation, Formation, Implementation, and Conclusion (C-P-F-I-C). 

A. Creation
  The Creation phase is where the idea is initially deliberated.  When considering whether or not to
move forward on the project, two questions should be considered:

1. Will the benefits of the project outweigh the costs (cost-benefit analysis)?
2. Is the project actually doable? If so, are the resources available to implement the project?

If you answered no to either or both questions, you probably should not proceed with the project.

B. Preparation

  The Preparation phase is where the planning is done.  In planning, you should considered:

1.  Project justifications

2.  Desired project outcomes

3. Work Breakdown

4.  Team member roles

5.  Project schedule

6.  Project budget

7.  Potential risks and risk mitigation

8.  Project assumptions

9.  Project constraints

C. Formation
  The Formation phase is where the team is assembled or formed.  In forming the team, the
following should be considered:

1. Roles assignment

2.Tasks assignment

3.Tracking system

D. Implementation
  The Implementation phase is where the work is actually done.

E. Conclusion
  The Conclusion phase is when the project comes to an end.  When finishing the project, you should:

1.   Get approval from client for final results

2.   Close all project accounts

3.   Transition people to new assignments

4.    Conduct post-project evaluation