Execution: A Very Important Stage Of The Project Life Cycle

Execution is a very important stage of the project life cycle. It is the third stage of the project cycle where the project plan is put into work. This is yet another very important phase of the cycle as this is where all of the work is done to achieve the output required for the project. Once a project is initiated and the project is planned out, it needs to be executed according to the plans set and expectations of the upper management and stakeholders (McGraw, 2009). The project has to be worked on according to the plans made during the initiation and planning phase of the project. Executing the project successfully very much depends on all the stakeholders who are involved in it.

The project team and the project managers are involved in

With the help of the project team, the project is executed successfully. The second type of stakeholders are the the upper management. The upper management are the parties who select the project manager and the project team. They are also involved in different types of decisions that are made during a project. They also give the green go ahead to the project manager to go with the project execution decisions that were planned on. Lastly, there are the other outside stakeholders. These can include any investors, customers, and/or the government. These parties are someone outside from the company but they are effected by the project as well. Investors have financial tie up with the project, the customers may want quality goods for a reasonable price, and the government want the project to be executed according to the laws of the land. Thus, it is very important for

It is very important to maintain the quality of product and work that is being put into is up to the standards required by the project and the company. This stage is complete once the project team member, the project team, the upper management and the other stakeholders feel that the end product or service provided is in according to the standards and requirements set during the project initiation phase. Losing the quality of a product can be a huge set back for any company. The customers get reluctant in buying products from a company who does not verify the quality of the product. With this, the company also gets a bad reputation in the market. This is a nightmare for any company and should be avoided on any cost. Thus, every project should have a project monitoring and controlling phase where the outcome of the project is tested and monitored for quality assurance purposes. If there are any issues found, they should be dealt with according to the safety requirements. Doing this not only means providing good products with high quality to the customers, but also building the company's reputation in the market. Once a company is reknowned for its quality, its almost certain that this brings more business for the company which helps the company generate