- What is Project Life Cycle? Definition, Stages, Phases of Business Project Management
- Project life cycle in software project management pdf
- Example: Project Phases on a Large Multinational Project
- The project management life cycle
- Phase #1: The Conceptualization Phase
- Project management life cycle overview
- The 4 Phases of the Project Management Life Cycle
- Project Life Cycle - Phases of Project Management Life Cycle - PMP Certification Training - Edureka
- The Five Steps of The Project Management Life Cycle
What is Project Life Cycle? Definition, Stages, Phases of Business Project Management
Every project has a beginning, a middle period during which activities move the project toward completion, and an ending either successful or unsuccessful. A standard project typically has the following four major phases each with its own agenda of tasks and issues : initiation, planning, implementation, and closure.
During the first of these phases, the initiation phase, the project objective or need is identified; this can be a business problem or opportunity. An appropriate response to the need is documented in a business case with recommended solution options.
Project life cycle in software project management pdf
A feasibility study is conducted to investigate whether each option addresses the project objective and a final recommended solution is determined. Once the recommended solution is approved, a project is initiated to deliver the approved solution and a project manager is appointed.
The major deliverables and the participating work groups are identified, and the project team begins to take shape. Approval is then sought by the project manager to move onto the detailed planning phase.
Example: Project Phases on a Large Multinational Project
In this step, the team identifies all of the work to be done. The project manager coordinates the preparation of a project budget by providing cost estimates for the labour, equipment, and materials costs. The budget is used to monitor and control cost expenditures during project implementation.
Once the project team has identified the work, prepared the schedule, and estimated the costs, the three fundamental components of the planning process are complete. This is an excellent time to identify and try to deal with anything that might pose a threat to the successful completion of the project.
This is called risk management. This is also a good time to identify all project stakeholders and establish a communication plan describing the information needed and the delivery method to be used to keep the stakeholders informed. Finally, you will want to document a quality plan, providing quality targets, assurance, and control measures, along with an acceptance plan, listing the criteria to be met to gain customer acceptance.
At this point, the project would have been planned in detail and is ready to be executed. During the third phase, the implementation phase, the project plan is put into motion and the work of the project is performed.
The project management life cycle
It is important to maintain control and communicate as needed during implementation. Progress is continuously monitored and appropriate adjustments are made and recorded as variances from the original plan. In any project, a project manager spends most of the time in this step.
During project implementation, people are carrying out the tasks, and progress information is being reported through regular team meetings.
Phase #1: The Conceptualization Phase
If that cannot happen, the team should record variations from the original plan and record and publish modifications to the plan. The plan should be updated and published on a regular basis. Status reports should always emphasize the anticipated end point in terms of cost, schedule, and quality of deliverables.
Each project deliverable produced should be reviewed for quality and measured against the acceptance criteria. Once all of the deliverables have been produced and the customer has accepted the final solution, the project is ready for closure.
Project management life cycle overview
During the final closure, or completion phase, the emphasis is on releasing the final deliverables to the customer, handing over project documentation to the business, terminating supplier contracts, releasing project resources, and communicating the closure of the project to all stakeholders. Through this type of analysis, the wisdom of experience is transferred back to the project organization, which will help future project teams.
There was no existing infrastructure for either the mining industry or large construction projects in this part of South America. During the initiation phase of the project, the project manager focused on defining and finding a project leadership team with the knowledge, skills, and experience to manage a large complex project in a remote area of the globe. The project team set up three offices.
One was in Chile, where large mining construction project infrastructure existed. The other two were in Argentina. One was in Buenos Aries to establish relationships and Argentinian expertise, and the second was in Catamarca—the largest town close to the mine site.
With offices in place, the project start-up team began developing procedures for getting work done, acquiring the appropriate permits, and developing relationships with Chilean and Argentine partners. During the planning phase, the project team developed an integrated project schedule that coordinated the activities of the design, procurement, and construction teams. The project controls team also developed a detailed budget that enabled the project team to track project expenditures against the expected expenses.
The 4 Phases of the Project Management Life Cycle
The project design team built on the conceptual design and developed detailed drawings for use by the procurement team. The procurement team used the drawings to begin ordering equipment and materials for the construction team; develop labour projections; refine the construction schedule; and set up the construction site.
Although planning is a never-ending process on a project, the planning phase focused on developing sufficient details to allow various parts of the project team to coordinate their work and allow the project management team to make priority decisions.
Equipment and materials were delivered to the work site, labour was hired and trained, a construction site was built, and all the construction activities, from the arrival of the first dozer to the installation of the final light switch, were accomplished.
The closeout phase included turning over the newly constructed plant to the operations team of the client.
Project Life Cycle - Phases of Project Management Life Cycle - PMP Certification Training - Edureka
A punch list of a few remaining construction items was developed and those items completed. The office in Catamarca was closed, the office in Buenos Aries archived all the project documents, and the Chilean office was already working on the next project. The accounting books were reconciled and closed, final reports written and distributed, and the project manager started on a new project.
The Five Steps of The Project Management Life Cycle
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