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A project management has five different phases to it, which basically comprises the whole ITPM lifecycle. The way the lifecycle is managed has a huge impact on the whole IT project management.

A popular and widely used ITPM method is the Waterfall methodology. This is a linear process where an overview of the project is first made. Then the project is divided into phases, following one after the other, and is executed in the same way.

An iterative method is another variety of lifecycle method which doesn’t necessarily follow a strict order. Repeating the phases is a common procedure in this method as the ultimate objective is to achieve a specific goal at the end of the iteration.

How it works

The Process


The first step is to identify the project goal, need or problem. Then a project manager is assigned and project charter is created


The project manager and project team collaborate to draw out a step-by-step plan to reach the ultimate conclusion.


With a proper plan, the team now moves on to execution in order to generate results.

Monitoring & Controlling

The team works on the execution process while the project manager determines the time, cost, scope, quality, risk and other factors related to the project.


A project closure is carried out at the end of each phase and at the very end to ensure that the entire project has been completed and approved.

Enterprise Performance Management (EPM)

With the growth of your business, operating it becomes more complex. Eventually, you experience a reduced ability to adapt to a rapidly changing business environment. To maintain the pace of your business and stay ahead in the race, you need to implement a system that connects your plans with proper execution and performance analysis. EPM allows for real-time data availability. It helps establish an understanding of the market trends and the actions of your competitors. This helps in responding swiftly and fulfilling the business objectives.

EPM offers benefits like a recording of data, calculation, and sharing of data. You get more comprehensive information. It is now available as cloud-based software that is easy to use, reduces additional costs, and offers accessibility & security. This allows aligning with business goals like financial and strategic goals.

Ignasoft Technologies provides EPM solutions to support your management cycle. We carry out:
• Budgeting
• Goal setting
• Planning
• Forecasting and modeling
• Consolidation of results
• Reporting
• Performance Analysis