Project Cycle Management
The project cycle management (PCM) process involves organizing, coordinating, and controlling the project throughout its phases. The objective of project cycle management is to achieve predefined objectives or satisfy project stakeholders by producing the appropriate deliverables on time, within the budget, and with the highest quality.
Project cycle management (PCM) is a method based on years of development, focused on organizing and planning projects through foundational principles and defined phases. This process covers the inception of the project to its planning and execution.
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-organized system that has proven results. It's organized in phases that are laid out for clarity, objective goals and expectations, and universal practice. Each phase works much like a chapter of a book, to be started and completed before moving on to the next phase. This ensures better quality outcomes and meeting on agreed project expectations.
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 utilizes basic project management principles. It prioritizes 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, organized process, with quality results on time.
Why Project Cycle Management
Many professionals have experienced the overwhelming feeling that comes with a large project. It sometimes seems impossible, especially if similar projects have faced significant historical challenges. When dealing with a team, a strict timeline, various partners, and multiple economic risks, many components can throw a wrench into things.
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.
The project cycle management process simplifies the project. In a complex situation, with many components working simultaneously, simplicity is critical. When leaders can simplify the process, this creates better results that lead to ultimate success. PCM uses phases which break up the process.
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