Project Life Cycle refers to a series of activities which are necessary to fulfill project goals or objectives. Projects vary in size and complexity, but, no matter how large or small, all projects can be mapped to the following life cycle structure:
- Starting the project
- Organizing and preparing
- Carrying out project work
- Closing the project
Every project has certain phases of development. A clear understanding of these phases allows managers and executives to maintain control of the project more efficiently.
By definition, a project has a beginning and an end and passes through several phases of development known as life cycle phases. These phases are varied depending upon the industry involved but all follow the same basic steps.
It is important to realize that the project life cycle for each project may differ, in both the number of phases it may have and the detail within each of these phases.
The Project Management Life Cycle has four phases: Initiation, Planning, Execution and Closure. Each project life cycle phase is described below, along with the tasks needed to complete it. You can click the links provided, to view more detailed information on the project management life cycle. Develop a Business Case.
Projects are broken down into phases so that extra control can be applied to effectively manage the processes. These phases are further divided into subsets for easy management, control, and planning.
For a project to be successful, the project team must:
- Select the appropriate processes to meet project goals and objectives.
- Use a defined approach focused on meeting the requirements of the project.
- Clearly define and agree upon stakeholder/customer needs and expectations.
Balance the competing demands of scope, time, cost, quality, resources, and risk to produce the specified product, service, or result. To learn more about Project Life Cycle, participate in our Project Life Cycle Training offered by GlobalSkillup.com. We have in depth detailing about all the phases for your team learning.