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  • Project Life Cycle

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    The project life cycle refers to the logical sequence of stages that a project goes through from initiation to closure. It includes an initiation phase where the project is defined, a planning phase where tasks are broken down, an execution phase where the project plan is implemented, and a closure phase that marks project completion. Organizing projects into distinct phases allows for efficient planning, tracking of goals, and justification of decisions. Different industries require tailored life cycle approaches due to varying needs and procedures. Each phase utilizes specific tools and methodologies to accomplish key objectives.

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    The project life cycle refers to the logical sequence of stages that a project goes through from initiation to closure. It includes an initiation phase where the project is defined, a planning phase where tasks are broken down, an execution phase where the project plan is implemented, and a closure phase that marks project completion. Organizing projects into distinct phases allows for efficient planning, tracking of goals, and justification of decisions. Different industries require tailored life cycle approaches due to varying needs and procedures. Each phase utilizes specific tools and methodologies to accomplish key objectives.

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    39 views3 pages

    Project Life Cycle

    Uploaded by

    shahrolhazrien
    The project life cycle refers to the logical sequence of stages that a project goes through from initiation to closure. It includes an initiation phase where the project is defined, a planning phase where tasks are broken down, an execution phase where the project plan is implemented, and a closure phase that marks project completion. Organizing projects into distinct phases allows for efficient planning, tracking of goals, and justification of decisions. Different industries require tailored life cycle approaches due to varying needs and procedures. Each phase utilizes specific tools and methodologies to accomplish key objectives.

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    of 3

    The

    Project Life Cycle


    refers to a logical sequence of activities to accomplish the projectsgoals or
    objectives. Regardless of scope or complexity, any project goes through a series
    of stages during its life. There is first anInitiationor Birth phase, in which the outputs
    and criticalsuccess factors are defined, followed by aPlanningphase, characterized
    by breaking down theproject into smaller parts/tasks, an Execution phase, in which
    the project plan is executed, andlastly a Closure or Exit phase, that marks the
    completion of the project.Project activities must be
    grouped into phases
    because by doing so, the project manager andthe core team can efficiently plan and
    organize resources for each activity, and also objectivelymeasure achievement of
    goals and justify their decisions to move ahead, correct, or terminate.It is of great
    importance to organize project phases into industry-specific project cycles. Why?Not
    only because each industry sector involves specific requirements, tasks, and
    procedureswhen it comes to projects, but also because different industry sectors
    have different needs for life cycle management methodology. And paying close
    attention to such details is the differencebetween doing things well and excelling as
    project managers.Diverse project management tools and methodologies prevail in
    the different project cyclephases. Lets take a closer look at
    whats important
    in each one of these stages:
    1) Initiation
    In this first stage, the scope of the project is defined along with the approach to be
    taken todeliver the desired outputs. The project manager is appointed and in turn,
    he selects the teammembers based on their skills and experience. The most
    common tools or methodologies usedin the initiation stage are
    Project Charter
    ,
    Business Plan
    ,
    Project Framework
    (or Overview),Business Case Justification, and Milestones Reviews.
    2) Planning

    The second phase should include a detailed identification and


    assignment of each task
    untilthe end of the project. It should also include a
    risk analysis
    and a definition of a criteria for thesuccessful completion of each deliverable. The
    governance process is defined, stake holdersidentified and reporting frequency and
    channels agreed. The most common tools or methodologies used in the planning
    stage are Business Plan and
    Milestones Reviews
    .
    3)Execution and controlling
    The most important issue in this phase is to ensure project activities are properly
    executed andcontrolled. During the
    execution phase
    , the planned solution is implemented to solve theproblem specified in the project's
    requirements. In product and system development, a designresulting in a specific
    set of product requirements is created. This convergence is measured byprototypes,
    testing, and reviews. As the execution phase progresses, groups across
    theorganization become more deeply involved in planning for the final testing,
    production, and

    support. The most common tools or methodologies used in the execution phase are
    an updateof Risk Analysis and Score Cards, in addition to Business Plan and
    Milestones Reviews.
    4
    )Closure
    In this last stage, the project manager must ensure that the project is brought to its
    proper completion
    . The closure phase is characterized by a written formal project review
    reportcontaining the following components: a formal acceptance of the final product
    by the client,Weighted Critical Measurements (matching the initial requirements
    specified by the client withthe final delivered product), rewarding the team, a list of

    lessons learned, releasing projectresources, and a formal project closure notification


    to higher management. No special tool or methodology is needed during the closure
    phase.

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