Project Initiation
The Initiation Phase is the first phase in the project. In this phase a business problem (or opportunity) is identified and a business case which provides various solution options is defined. A feasibility study is then conducted to investigate the likelihood of each solution option addressing the business problem and a final recommended solution is put forward.

Project Planning
Once the scope of the project has been defined in the Project Charter, the project enters the detailed planning phase. This involves the creation of a:

• Project Plan (outlining the activities, tasks, dependencies and timeframes)
• Resource Plan (listing the labor, equipment and materials required)
• Financial Plan (identifying the labor, equipment and materials costs)
• Quality Plan (providing quality targets, assurance and control measures)

Project Execution
This phase involves the execution of each activity and task listed in the Project Plan. While the activities and tasks are being executed, a series of management processes are undertaken to monitor and control the deliverables being output by the project.

Project Closure
Project Closure involves releasing the final deliverables to the customer, handing over project documentation, terminating supplier contracts, releasing project resources and communicating the closure of the project to all stakeholders.