Define Project Life Cycle

  1. Define Project Life Cycle

In project life cycle includes of following phases, initiation, planning, execution and evaluation. Initiation phase starts by defining the scope, objectives, purpose, deliverables, resources, timescales and construction of the project. Feasibility study should then be carried out to insure that the chosen solution is executable and has a satisfactory point of risk. The project manager will be creating the following plans:

  • Resource Plan: to identify the staffing, equipment and materials required.
  • Financial Plan: to measure the financial expenditure needed.
  • Quality Plan: to set the Quality goals and specify Quality Control methods.
  • Risk Plan: to identify problems and plan actions required to minimize them.
  • Acceptance Plan: to specify standards for accepting deliverables.

The following life cycle phases are explains below:

  • Initiation: 

Initiation relates to choosing the goal. What is really happening? Are you making a newly office?Setting up a new product? Make sure your aim is clearly worded and each concretes this server as the backbone to your complete project. Once you have clearly explained the goal, you will need to define the range of the project. If you are making an office, do you want to find and purchase place, or are you just repairing an oldest space. This is the level where you will want to allot a project manager to take holds the project and responsible for its success.

  • Planning: 

Planning is the second step of the life cycle. Planning in the project perhaps is the most important step in project management. The project manager should wrote the  project plans that outline what is being complete and what items and actions are required to do it. These plans will be used all around the project to more clearly explains the plan and make sure it is being executed properly.

They can include such steps as:

  1. Estimating resources and time: 

Find out what you will need and how much time you will require to complete the various steps. This could alter at any point along the way and it is good to build estimates toward some of the high and low ends and target to end up some place in the middle.

  1. Identify the order of tasks:

Which projects will take priority or logically come earlier others?  There are too many software programs that can help you organizes the sequences of your project.

  1. Execution schedule:

This will help outline your execution in a clear and focused manner.

  1. Risk Analysis:

Imagine about different reversals you could face during the task and make substitute plans for them in the consequence they do happen.

  1. Communication Systems:

Launch standards for reporting progression, setbacks and any alters in plans.

  • Execution: 

When you have got your plan completed, you can starts executing and controlling your task. You will necessarily have to modify your plan along the path, and your project manager ought to good project controls to make sure the complete operation is monitored and reply to appropriately. This can also be traced with efficient position reports & communication systems.

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