StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Phases of Project Life Cycle - Essay Example

Cite this document
Summary
The essay "Phases of Project Life Cycle" focuses on the critical analysis of the major issues in the phases of the project life cycle. The main goal of any project manager and the project team is to carry out the project work to meet the pre-determined objectives…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER93.5% of users find it useful
Phases of Project Life Cycle
Read Text Preview

Extract of sample "Phases of Project Life Cycle"

The main goal of 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 end. A standard project characteristically has four major stages that include: initiation, planning, implementation, and closure (Cobb, 2012). Each of these stages 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 stage of the entire process, this phase provides the project objectives that may be a business problem or opportunity. During this stage, a suitable response to the problem is documented in a business case alongside recommendations that detail solution alternatives. A feasibility study comes in handy to examine if each alternative addresses the objectives of the project before making the final recommendation. In the feasibility the team asks the question “Can we do the project?”And in justification the question “should we do the project?” is asked.

Immediately following the approval of the recommendation, the project is initiated by first appointing the project manager. In addition, the deliverables and the project team are identified.

Planning Phase. Planning is the next stage that serves to further develop the project solution. Here, the team makes a detailed study of the work as it identifies the project steps and resource requirements and at the same time comes up with a working strategy to help meet the set goals. To accomplish this, the team comes up with an outline of the tasks, activities, dependencies and timeframes. It is at this point that the project manager develops the project budget to help control and monitor expenditures during the implementation stage. Together all this is referred to as scope management. The other important consideration is risk management, an aspect that looks into matters that pose possible threats to the whole process. Here, “high-threat” potential problems are established along with the measures that are to be taken (Kanda, 2011). Finally, the project manager documents a quality plan; detailing quality targets, control measures, and assurance alongside an acceptance plan.

Implementation (execution) Phase. During this third stage, the project plan is set in motion to carry out the task of the project as the team monitors the progress and makes necessary adjustments, which are also recorded as variations from the original plan. In addition, this stage involves reporting on progress through regular team meetings. The information gathered here helps to maintain control over the path taken by the project through analysis of activities performance when comparing the output to the project plan.

Status reports delivered in this stage should always give weight to the anticipated endpoint about deliverables quality, schedule, and cost. Each project deliverable established should be assessed for quality and evaluated against the predetermined criteria. In a case where the deliverables produced meet the customer's needs, the project can now get into the closure stage.

Closing phase. This stage is also called the completion phase and it involves: handing over the final deliverables to the client, the release of the project documentation to the business, concluding suppliers' contract, handing over project materials and communicating the closing of the project to relevant persons. The very last step involves a move to carry out lesson-learned studies that will help establish what went as planned and what did not as measured to enrich future project teams.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Project Life Cycle Essay Example | Topics and Well Written Essays - 500 words”, n.d.)
Project Life Cycle Essay Example | Topics and Well Written Essays - 500 words. Retrieved from https://studentshare.org/management/1624554-project-life-cycle
(Project Life Cycle Essay Example | Topics and Well Written Essays - 500 Words)
Project Life Cycle Essay Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/management/1624554-project-life-cycle.
“Project Life Cycle Essay Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/management/1624554-project-life-cycle.
  • Cited: 0 times

CHECK THESE SAMPLES OF Phases of Project Life Cycle

Business Project Management

In addition, there is a difference between WBS and OBS, where WBS is utilized to describe the tasks during initial Phases of Project Life Cycle; on the other hand the OBS presents an organizational structure for the project as it moves toward end.... In this scenario, one important way to recognize the connection of project managers and their projects to host organization is by carrying out stakeholder analysis.... Once the project's requirements definition/needs, scope and objectives are determined, the next responsibility of project team is to construct the SOW, which is the foundation for a supplier's tender response and contract performance....
14 Pages (3500 words) Essay

Project Management Challenges

roject managers should carry with them their hard and soft skills throughout the Phases of Project Life Cycle.... Project Manager is person who is responsible for the successful completion of the project and manages all the stages of project life cycle.... The author explains that a Project Manager is a person who is responsible for the successful completion of the project and manages all the stages of the project life cycle.... ard skill deals with subject such as cost control, change management, project life cycle, network analysis, earned value analysis, risk management, quality management, estimation, procurement and tender analysis[Les06]....
8 Pages (2000 words) Research Proposal

Importance of Project Management for Organizations

Phases of Project Life Cycle The project life cycle can be defined as a logical sequence of events meant to achieve the goals and objectives of the project.... A project is a process with different phases that are collectively referred to as the project life cycle.... This paper seeks to describe the underlying purpose of project management as well as to discuss the various phases of project management and its importance for organizations.... This paper seeks to discuss the various phases of project management and its importance for organizations....
5 Pages (1250 words) Term Paper

Definition, Significance and Benefits of Project Management

PMI (2008) more clearly defines that the project management plan dictates how the project is executed, monitored, controlled and closed during the entire Phases of Project Life Cycle.... Mulcahy (2012) stresses that the project plan needs to be well thought covering all Phases of Project Life Cycle, complete as far as possible, realistic, agreed upon, approved and formal.... project life cycle The context in which project management and project take place in actual is greater than that of projects....
11 Pages (2750 words) Assignment

The Failure of RMS Titanic Project

The operational process should generate essential project deliverables during the later Phases of Project Life Cycle.... Besides, there is also a requirement for effective risk and problem management in every phase of project life cycle (Richardson and Butler 1-97).... project life cycle OF RMS TITANIC The lifecycle of any project consists of five typical phases.... There was tremendous business pressure for Titanic to launch quickly because large investments were tied up in the project life cycle....
10 Pages (2500 words) Essay

Why Projects Fail In Airbus-A380 In Singapore Airline

(1987) also found that the relative significance of success factors varies at different Phases of Project Life Cycle.... A case of Singapore Airlines has also been selected for understanding the impacts of project failure on the organisation as a whole.... heory of project Failure 7 ... One of the most debated examples of project failures, principally due to weak technology performance, is that of Airbus A380 engine deficiencies....
13 Pages (3250 words) Essay

Problems and Challenges in Regulating Internet Banking In Nigeria

In order to ensure the proper management of project, it has been divided in different stages that are referred as the Phases of Project Life Cycle.... The chapter explicitly defines the background issues and concepts associated with the notion of project management and explain different approached and issues related with project management.... The concept of project was widened with the introduction of the phenomenon of project management in 1950s that associate certain technique of management with a project and gave it the name of project management (Kerzner, 2009)....
20 Pages (5000 words) Dissertation

Definition, Significance, and Benefits of Project Management

PMI (2008) more clearly defines that the project management plan dictates how the project is executed, monitored, controlled and closed during the entire Phases of Project Life Cycle.... Mulcahy (2012) stresses that the project plan needs to be well thought covering all Phases of Project Life Cycle, complete as far as possible, realistic, agreed upon, approved and formal.... awson and Gray (2011) recognized that project life cycle approach facilitates the project managers to effectively manage the project due to its limited life span and varied efforts required that can be predicted....
11 Pages (2750 words) Report
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.
Contact Us