Subject: principle of project management and reference is PMBOK

Running Head: PROCESS OF SUCCESSFUL PROJECT MANAGEMENT    1
PROCESS OF SUCCESSFUL PROJECT MANAGEMENT     12
PROCESS OF SUCCESSFUL PROJECT MANAGEMENT
Table of Contents
Introduction    3
Project Management Life Cycle    3
Initiation    3
Planning    5
Execution    6
Closure    7
Triple Constrains    8
Conclusion    9
References    10
Introduction
    Project management process is closely associated with business and commerce and involves the chronological approach from initiation, planning, execution and finally completion. Projects are managed based on predetermined goals, budget and timelines, all of which act as its key success factors. Business organizations or public bodies, undertaking project management are benefitted for attaining their aims in an efficient manner and therefore, the success of project management is highly prioritized. In the given study, the process that involves the reaching of a successful project management is discussed in details involving the aspects of PMLC and the Triple Constraints.
Project Management Life Cycle
    The Project Management Life Cycle (PMLC) is the collective chain of processes, which hints at the start to the completion of a project and its management stages. There are four major stages of PMLC, and each stage has its own sub-sections. As stated by Lemke (2018), PMLC is a major contributor of project management success and therefore, the assessment of each stage is necessary as it offer in depth knowledge that makes project management easy, systematic and positive in its effectiveness.
Initiation
    The initiation phase as the name suggests, is the very first stage of PMLC and it is the phase, which starts the cycle for a properly managed project. As mentioned by Liu et al. (2018), in the initiation phase, the legibility of the projected aims, in terms of their practicality, the requirements in terms of time, cost, human resources and the tools as well as techniques are determined, discovered, discussed and evaluated. As opined by Martinsuo and Hoverfalt (2018), in project management, the availability of resources and the legitimacy of the used processes are not enough, the determination of the strategy, the selected types of human resources, the skill requirements and time based task segregation is also done in the initiation phase.
Among the used techniques and tools in the initiation phase, the project charter is one of the most relevant techniques. As explained by Syerov, Trach and Fedushko (2018), a project charter is a written or printed document, on which the stakeholders of a project, the goals, scope and the context is mentioned, based on which a rough sketch of budget, the major needs and risks are described, mainly for the top managerial levels. In most cases, considering the ease of security and sharing, Google Documents are used as the recommended tool for the mentioned technique.
    Another major technique used in the initiation phase is feasibility study. As suggested by Cha and Maytorena-Sanchez (2019), prior to the planning of a project, the feasibility of the goals and aims in context of provided budget, time and available resources must be evaluated, which is termed feasibility study. With the help of feasibility study, waste generation can be reduced. As identified by Ma, Xiong, Olawumi, Dong and Chan (2018), with the use of the tool named, Gantt chart, the feasibility study can be executed properly, as it tends to position the tasks of a project in context of its stipulated time.
In addition, as noted by Chawla, Chanda, Angra and Chawla (2018), in the initiation phase, the development and functioning of a proper communication among the people engaged in the initiation process must use convenient communication application along with emails. As example application such as Slack can be used, this is very effective and does not use long threads similar to email conversations.
Planning
    The planning phase starts after the proper completion of the initiation phase. As mentioned by Bjorvatn and Wald (2018), the rough sketches regarding the requirements, goals, resources and the budgets provided to the higher management, are further refined, critically, evaluated rationally and rectified based on the feasibility status of the claims in the planning phase of PMLC. In the planning phase the requirements are finalized, the budget is approved and provided; the dependencies are located in the project. As opined by Garwood and Poole (2018), as the finalizing process in the planning phase, reduces the scope of error amendment and resource allocations, the project manager tend to get highly involved in the data collection process and documentation, so that all relevant details and criteria are met properly.
    There are two major techniques used in the planning phase- the designing of the project and the identification of the requirements. As assesses by Martinez-Aires, Lopez-Alonso and Martinez-Rojas (2018), in the requirement identification technique, instead of only identified raw materials and resources, their respective...