Nobody downloaded yet

Relationship Between Project Life Cycle and Product System Life Cycle - Essay Example

Comments (0) Cite this document
A project is a temporary task embarked upon to develop a product or render a particular service. In a literature review by R. Max Wideman [1], Archibald explains the project life cycle as follows: 'The project life cycle has identifiable start and end points, which can be associated with a time scale.' According to the Project Management Institute (PMI) the formal body representing the Project Management community, 'A project consists of sequential phases…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.7% of users find it useful
Relationship Between Project Life Cycle and Product System Life Cycle
Read TextPreview

Extract of sample
"Relationship Between Project Life Cycle and Product System Life Cycle"

Download file to see previous pages Due to the uniqueness of each industry, the demarcation of the phases may vary accordingly and sometime the divisions between the phases may often overlap.
A product maybe defined as an entity offered in the form of goods or services. A product life cycle evolves through different phases similar to a project. The spiral model best describes the product life cycle, which is the most generic model of all. Special product life cycles are considered to be derivatives of this basic model. The key feature of the spiral model is in its risk management. It focuses on low risk strategies, early detection of errors and design flaws and the closely aligns itself with the evolution and growth cycle of the product. A product life cycle is often triggered by a need or opportunity, which leads to the conception, manufacturing, production and deployment of a tangible or intangible asset. This is then supported or maintained, upgraded as required and retired when obsolete.
Although on the surface, a project life cycle and a product life cycle seem similar, in reality each phase of the product life cycle is a project by itself. Each phase of the product derives its input from the end result of the executed project. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Relationship Between Project Life Cycle and Product System Life Cycle Essay”, n.d.)
Retrieved from
(Relationship Between Project Life Cycle and Product System Life Cycle Essay)
“Relationship Between Project Life Cycle and Product System Life Cycle Essay”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
Product life cycle (PLC)
...Lecturer Product life cycle (PLC) I have chosen the food and beverage industry. I believe that companies in this industry face numerous challenges, for example, the stiff competition in the industry. Another key challenge is the ever-increasing regulatory requirement. Retailers demand high quality and cheap products from the industry. There is as well pressure from consumers who insist on food safety and healthy products. This paper will look into a couple of products in the food and beverage industry belonging to different stages of the product life cycle. Introduction Stage Pepsi Next...
5 Pages(1250 words)Assignment
Product Life Cycle Management
...This paper deals with the identification of an appropriate strategy for the adoption of Product Life Cycle Management (PLM) systems by Smalland Medium Enterprises (SMEs). In this paper the discussion on the functionality that PLM systems offers SMEs and examining the implementation required by the SMEs with regards this specific system shall be presented. The initial idea is to determine the needs of SMEs and their priorities for the benefits they would demand from the PLM system. The contributions of this project are twofold. First, to devise an appropriate approach for SMEs to adopt and implement PLM...
18 Pages(4500 words)Essay
Product Life Cycle
...Executive Summary This report focuses on the efficiency of using PLC in coming up with a suitable marketing strategy for business. Crafting the right marketing mix to give maximum value to customers and profit to business organizations is aided by the use of this business tool. The PLC is applied to Starbucks in the US where coffee is in the mature stage as well as in China where it is still in the introductory phase. It was found out that PLC is a tool which can be used to extend the life of products. Table of Contents Titles Pages Executive Summary 1 Introduction 3 The Product Life Cycle: An Overview 4 Product Life Cycle in the Starbucks Context 4 The Role of PLC: Extending Product Life 7... ...
5 Pages(1250 words)Essay
Project Life Cycle
...IT tasks in Project life cycle and skills required by Project Manager According to Project Management Institute "a project is a temporary endeavor undertaken to create a unique product or service."[1] Patel and Morris have stated, "The life cycle is the only thing that uniquely distinguishes projects from non-projects." [2] As defined by Software Engineering Body of Knowledge published by the IEEE[3], the IT project life cycle goes through the phases of initiation, planning, development, implementation...
3 Pages(750 words)Essay
Marketing and product life cycle
...The paper incorrectly defines lifecycle as a process which ends when the product is withdrawn from the market. The new research is against this concept. A life cycle does not end with the product declining and withdrawn from market. However, there is a new extension stage that is being introduced by marketing gurus. The extension stage is missing from the product life cycle stage in this paper. The extension stage starts as soon as the marketers try to extend the product life cycle and incorporate new features in a product to make sure that its decking...
2 Pages(500 words)Assignment
Product Life Cycle
...Product Life Cycle Product life cycle is a business analysis tool that enables businesses to determine the stages that a product goes through in the market, the stages are divided in to four phases and a good example of a product that has undergone the phases is the home PC. The first phase is the introduction stage where the product is introduced in the market, in this phase there are low profits or the firm may be incurring losses, there is also low competition in the market and the firm can use penetration or skimming method to enter the market. The second phase is the growth stage...
1 Pages(250 words)Essay
Project Life Cycle
...of affiliation: The Project Life Cycle (phases) The main goal of the any project manager and the project team is to carry out the project work to meet the pre determined objectives. Every project constitutes a beginning, intermediate period and the ending. A standard project characteristically has four major stages that include: initiation, planning, implementation, and closure (Cobb, 2012). Each of this stage serves to accomplish a unique agenda of tasks and together, these stages are referred to as the project life cycle. Initiation Phase As the first...
2 Pages(500 words)Essay
Product Life Cycle
... of these studies. Their main aim lies in making LCA scientifically certified by adhering to a constant methodology and later on subjecting the given studies to further review by peers. In addition, assessment of life cycle does make sense for companies that utilise it to adjust quite accordingly and cost-effectively to the increasing body of environmental systems and also concerns of the customers regarding the environment.LCA has really played a significant and quite an important role especially in public debates by at least coming up with some questions on their ideas about some environmental impacts of particular materials and products. Work cited... Introduction A product life cycle...
3 Pages(750 words)Assignment
Product Life Cycle
...Product Life Cycle: Recorded Television Product Life Cycle: Recorded Television Every product goes through four distinctive stages during its time in the market. The four phases include introduction, growth, maturity, and the decline phase. For instance, the television industry has gone through these stages. It has undergone numerous transformations. This essay considers the 3D Televisions. The initial phase is the introduction of the 3D television that required the application of the most recent technology. The design engineers tasked with the responsibility had to carry out scientific research to identify the best communication cables to use. They also had to determine the properties of the material required in the construction... of the...
1 Pages(250 words)Assignment
The project life cycle
...for understanding a project’s life cycle. Each phase includes a combination of similar activities. Phases are sequential where one has to complete before the next one begins and some activities into the early phase of a project will continue until project completion Project life cycle is of great interest because it is a current issue applied in businesses to achieve their goals and objectives especially achieving growth by launching new products/services. Companies that desire to compete in international markets understand the importance of increasing project...
6 Pages(1500 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic Relationship Between Project Life Cycle and Product System Life Cycle for FREE!
Contact Us