Reading Time: ~4 Mins | Written By: Chris Penner
What are the key stages of Marketing Project Management, you ask? Great question! We are here to dive into the detailed answer. First, you should know that these stages can vary in order, as things may not always go as planned. However, the whole purpose of having a process and stages for marketing project management is to ensure that we are sticking to a plan (and of course adjusting and iterating as necessary).
Stage 1: Initiating
In this stage, as project managers in marketing, we are initiating the project. In order to do so we need to determine:
The scope of the project: what services are we providing, project deadlines, and overall budget
The goals of the project: the objectives we are hoping to achieve
Key stakeholders: who will be working on the project, who will oversee the project, and identifying others who have a stake in its outcomes
By identifying the scope, we know what we have to work with, both in terms of timelines and resources. When we know the goals of the project, we can bring these into the planning stage to determine KPIs used to benchmark those goals. And finally, by identifying key stakeholders we’ll know who we are working with and who will be affected by the results.
Stage 2: Planning
In the planning stage we are crafting the project plan. A strong project plan will include:
A clear outline of the tasks that need to be completed in the execution stage in order to complete the project. For example, let’s say the project you’re working on is the development of a marketing plan for a new product launch. Tasks will include competitor research (segmented by channels such as social media, website, etc), target market research, channel research, etc.
A timeline of key milestones that need to be met to keep the project on track
The budget to be allocated to each stage of the project
Stage 3: Execution
When it comes time to executing the project, you will:
Debrief your team members on the overall project plan and goals
Debrief your team on their assignments, including their timelines and budget available to execute (ie. who is responsible for the competitor analysis, who is responsible for the market research? etc.)
Debrief your team on project expectations, including establishing communication standards and channels of communication (ie. do you expect daily/weekly/bi-weekly progress updates? If so, what should these updates include?)
Execution always goes much smoother when the team that is expected to deliver has all of the information available to them that will make them successful.
Stage 4: Monitoring and Managing
Now that we have planned the project and begun execution, it is crucial to maintain the standards set out in the plan to keep everything on track. At this stage we will:
Monitor project progress: ensure that the periodic updates you have outlined for your team members are taking place, and are up to standard. Ensure you have a long term outlook taken into account when you are reviewing frequent updates to ensure everything is still on track to hit the established deadlines.
Manage project progress: this is where we need to be both nimble and agile in the adjustments that need to be made to keep the project on track. Managing will include:
Ensuring your team has been given realistic deadlines based on their progress to-date
Ensuring stakeholders are updated on progress, and made aware early if deadlines are needing to be shifted (this should include a thorough explanation, and solution moving forward)
What you have likely guessed at this point is if you have planned thoroughly, it will certainly make the job of managing the project much easier. Keep in mind the management stage will not always go as planned, so it is important for us to adjust accordingly along the way.
Stage 5: Closing and Presentation
At this stage it is time to deliver on everything that was promised during the initiation stage. How you close and present will vary depending on the project, but here are some examples of what can be included:
Comparison of goals vs. actual results - backed by KPIs
Key findings and recommendations - what did we learn along the way, and what do we recommend be done as a result?
Budget vs. actual spend - did you have enough budget to work with? Not enough? Why?
Marketing project management comes in various shapes and forms. However, while different companies may have different names for each, these 5 stages are quite standard. It is important to note that there are also unique project management techniques such as Waterfall and Agile.
If you are interested in becoming a marketing project manager, check out our Account Management course. It is a self-paced, on-demand course that covers the project management process.
