Project development and time management are essential skills for any professional. Today we'll be talking about project development and time management. This vocabulary is important because all jobs require efficient use of time and resources. Project development contains five stages or phases: initiation, planning, execution or implementation, monitoring or control, and completion. Let's start with initiation. Initiation is the beginning of the project. In the initiation stage, you need to do three things: set meaning establish the objectives, which involves identifying the deliverables or targets. A deliverable is an item that will result from the project, like a product or report, and a target is a goal, such as a 15% increase in sales. If the project will produce a physical item, you'll also need to define its specifications—the specific dimensions, materials, and features of the product. Also, define the scope by establishing limits on the area of the project. For example, if you work for an advertising agency and your project is to place ads in 10 major magazines, the scope is limited to magazines. If the client wanted to put ads in newspapers and websites as well, this would be outside the original project's scope. You should also assemble the project team, putting together the group of people who will work on the project. The leader of the project team is called the project manager, responsible for supervising the project's progress and the team's work. It is the project manager who needs to sign off, meaning approve, major changes and decisions. Next is the planning stage. In the planning stage, the project manager and team develop a detailed strategy for completing the project. This strategy defines the time frame, the amount of time necessary to complete the project, and the timeline or schedule for finishing each part. Key points on the project timeline are called milestones. Identifying milestones helps keep the project on schedule, especially for long-term projects, which take a long time to complete. Sometimes project planning includes identifying the critical path, the sequence of essential activities required for completing the project on time versus non-essential activities that can be delayed without affecting the completion date. The planning stage also includes creating a budget and allocating money to each part of the project. In some cases, the project team knows exactly how much each part will cost, while in other cases, they need to estimate or project how much money will be needed. If very little money is available, the project is operating on a tight or shoestring budget. Next we have execution or implementation. In this stage, the actual work of the project is performed. Work can be done by employees or outsourced to other people or companies who are hired to perform specific tasks. If the work is done internally, it is done in house. For example, a company may have a graphic designer on staff, so all design work is done in house. The alternative is outsourcing work to another company, like quality control, which may be contracted out to a specialized firm for regular evaluations. At some points, hiring a consultant—a professional from outside the company—may be necessary to provide objective evaluation and advice. Stage four is monitoring or control. This stage can occur concurrently, meaning simultaneously, with the execution stage, or it may occur afterward to monitor project results. The project manager receives regular reports and updates to monitor progress. All people working on the project need to follow the timeline to reach each milestone before its deadline. A deadline is the final date when a task must be completed. Team members also need to track spending carefully to avoid cost overrun, which occurs when spending exceeds the budget. The final stage, completion, is when the project is officially finished. There may be an assessment or evaluation of the project's outcomes and results. Sometimes this stage includes an in-depth review of past work and meetings to discuss the project's successes and failures. Now, let's learn some vocabulary for time management. Using time effectively is important for both professional and personal projects. One key tip for good time management is to make a to-do list of all tasks and prioritize them, deciding which are most important or urgent. Efficient workers avoid procrastinating, delaying tasks longer than necessary. The phrasal verb put off is used to describe delays. Some people leave things until the last minute, known as crunch time, the period just before a deadline requiring intense effort. Successful time managers reserve time for tasks, minimize distractions, and avoid wasting time. Unexpected events can cause delays, requiring faster work to catch up or get back on track. If ahead of schedule, progress is faster than planned, allowing for temporary breaks.

This content was collected by Xiao Wu from qicai.com, focusing on business English listening related to presentations, meetings, negotiations, and phone calls. We hope it brings you valuable insights!