Five phases of the project lifecycle essay

A status report documents project costs in the various phases of the project.

project life cycle 5 phases pdf

Weekly status reports and tracked project schedules are the outcomes of this activity. In the construction industry a project charter is completed in this phase. If the project is approved, a project manager is assigned.

What are the 5 phases of a project?

This enables the manager to estimate the duration of the project more objectively, determine the resources that would be required and also work out a schedule for project execution. The Five Phases Each phase of the project lifecycle is associated with a number of activities. Here, the project manager starts with a kick-off meeting with a client s to understand the goals and objectives and most importantly, their expectations from it. This can be seen as repeating activity within a company. Project managers typically use two evaluation tools to decide whether or not to pursue a project: Business Case Document — This document justifies the need for the project, and it includes an estimate of potential financial benefits. Communications Management Plan: This plan is developed to ensure flow of required information to all team members. Monitoring and control This process oversees all the tasks and metrics needed to guarantee that the agreed and approved project that is undertaken is within scope, on time and within budget so that the project proceeds with minimum risk. Procurement responsibilities are fixed and assigned. Cost, time, scope and quality are tracked along with actual accomplishments and results.

One way to organize a project is to sort it into 5 phases and here they are. Project Execution This is the phase that is most commonly associated with project management.

According to Schwalbeproject life cycle defined as a collection of project phases, development, implementation and close-out.

4 phases of project management

The final phase is termed the Close phase in which the project is completed and documented. The roles and responsibilities for the risk management process are accorded. They just have few templates. Many companies with their consciousness or not have been actualizing the cycle, including electricity transmission contractors in Indonesia. The Project Manager balances resource availability with the Work Plan. Cost Control: This activity ensures that the project cost adheres as closely as possible to the budgeted cost. It balances the requirements of the project with available resources to see if pursuing the project makes sense. There are five important steps in developing project life cycle namely defining project goal, planning project, executing project, closing project and lastly, evaluating the project refer to Figure 1 in Appendix. Frequency of project plan reviews, frequency of receiving and sending status reports, and frequency of checking for process improvements are determined.

This phase is also called implementation phase. Cost, time, scope and quality are tracked along with actual accomplishments and results.

project management process example

Some use a project management software while others use key performance indicators KPIs to determine if it is on track or not. The Five Phases Each phase of the project lifecycle is associated with a number of activities. None of the trademark holders are affiliated with this website.

Each of the phases of the life cycle must be examined along with the process groups involved.

project life cycle examples

It helps in managing the workload of individual departments. Procurement Management: The objective is to ensure adherence to the procurement plan and procedures so that the selection procedure is fair and the quality of supplies and services are acceptable.

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What are the 5 Phases of Project Management Lifecycle