The Project Life Cycle refers to the four-step procedure that practically all project managers follow as they go through the stages of project completion. Most individuals are familiar with the conventional project life cycle. The Project Life Cycle serves as a framework for managing any sort of project inside a company. It provides clarity about what needs to be done when for every aspect of the project.
The four phases of the project life cycle are planning, executing, controlling, and closing.
In planning, you determine the scope of the project and identify all the players involved. You also define the start and end dates of the project. These are important steps because they help ensure that everything related to the project can be completed by the deadline.
During execution, you carry out the work on the project. This includes tasks such as interviewing team members and customers, creating task lists, and scheduling regular meetings. You also monitor how well the project is coming together by reviewing progress reports and discussing issues with team members. Execution ends when you have finished completing all the project requirements. This may include testing products or services before they are released into the market place. At this point, you declare the project complete.
Control begins once your project has been approved by its sponsor(s) and has received the go-ahead from management. Your job as the project manager is to make sure that everything associated with the project is controlled to meet its approval criteria.
The Project Life Cycle (shown below) refers to a sequence of actions required to achieve project goals or objectives. Projects vary in size and complexity, however regardless of size or complexity, all projects may be mapped to the life cycle framework outlined below: Getting the project started Organizing and planning the project Executing the project Monitoring and controlling the project Closing the project
Projects can be any work or activity that has a defined start and end date and requires specific tasks to be completed within this time frame. Projects can be small, such as a personal diary page, or large scale, such as a construction project. Even though they differ in size and nature, all projects share common characteristics that can be summarized by the life cycle model.
The starting point of any project is "getting the project started". This may include determining what kind of project it is (e.g., personal diary page or big building), who will be involved in the project, how it will be managed, and so on. Next, the project needs to be "organized and planned". This includes defining the goal(s) of the project, identifying resources that will be needed to complete it, and scheduling when these activities will take place. Finally, once the project has been organized and planned, it can be "executed". This includes performing the actual activities necessary to complete the project, such as writing down ideas for your diary page or building shelves.
The project management life cycle is the phrase used to describe the sequence of phases that a project goes through from start to finish. It creates the fundamental structure for every type of project, from software development to building to event organizing.
It has six basic steps: planning, initiating, executing, monitoring and controlling, closing out, and finishing.
These steps can be divided up into further sub-steps, depending on the nature of the project. For example, an executing phase could be subdivided into tasks that get completed during the meeting with no additional effort required after they have been assigned. Planning may also be done at a higher level than execution, such as organization design or policy creation. Finally, some steps may not apply under certain circumstances; for example, planning may be omitted if there is only one possible course of action or if you are working on an unplanned project.
Every project follows a unique path based on how it is defined. Some projects may have more than one future stage, such as projects that may be canceled or postponed. Other projects may only have one possible conclusion, such as projects that are completed after they reach their goal date. Still other projects may have several possible conclusions, such as projects that are still being debated today.
A project management life cycle is a framework that consists of a series of discrete high-level stages needed to turn an idea or concept into reality in an organized and efficient manner. The key elements of a project management life cycle are planning, initiating, executing, monitoring and controlling, and closing out projects.
The life cycle begins with the definition of goals and objectives for the project. These can be functional (such as "create a new product") or non-functional (such as "increase customer satisfaction"). They must be clearly defined before any work can begin on a project. Next, the requirements for the project need to be determined. This includes identifying all the components needed to complete the project, as well as determining how they will be selected and implemented into the project. After this comes design: considering all the requirements identified above, designing the actual physical product or service that will meet those needs.
Once the design has been decided upon, it can be created using any number of tools available today. This may include computer-aided design programs such as AutoCAD or Inventor, or hand-drawn diagrams.
The project management life cycle is often divided into four stages: planning, execution, and closing. These phases provide the road that leads your project from start to finish. The more clearly you understand each stage of the process, the better able you will be to manage its requirements effectively.
Every project must have a plan. Although no one plans to go over budget or miss deadlines, this always happens. If you want to avoid these problems, then you should put in place a plan that takes into account all aspects of the project. This plan should set out how you will achieve your goals efficiently and what might happen if you run into obstacles along the way.
Your project's schedule is your roadmap for deciding when tasks will be completed. You should establish realistic deadlines for each phase of the project. If something unexpected occurs after you've already started work on a task, it may affect your ability to meet its deadline. You should also consider the impact of seasonal factors on your project, such as weather or school holidays. Identifying potential issues early on allows you to take appropriate action.
During project execution, you will need to monitor progress against established metrics, such as time spent on specific tasks. If a milestone is missed, then you should identify the cause of the problem and propose a solution that will ensure that it does not happen again.