A project life cycle consists of four phases, initiation, planning, execution and evaluation. All four phases contain key stages which are: – Resource Planning: to identify the staffing, equipment, and materials needed Financial Planning: to quantify the financial expenditure required Quality Planning: to set quality targets and specify Quality Control methods Risk Planning: to identify risks and plan actions needed to minimize them Acceptance Planning: to specify criteria for accepting deliverables Finally, a Phase Review...
A project life cycle consists of four phases, initiation, planning, execution and evaluation.
All four phases contain key stages which are: –
Resource Planning: to identify the staffing, equipment, and materials needed
Financial Planning: to quantify the financial expenditure required
Quality Planning: to set quality targets and specify Quality Control methods
Risk Planning: to identify risks and plan actions needed to minimize them
Acceptance Planning: to specify criteria for accepting deliverables
Finally, a Phase Review is carried out to assess the deliverables produced to date and approve the start of the Project Execution phase. During the Project execution phase, the project team creates the deliverables while the project manager monitors and controls the project delivery by undertaking:
Time Management: tracking and recording time spent on tasks against the Project Plan
Cost Management: identifying and recording costs against the project budget
Quality Management: reviewing the quality of the deliverables and management processes
Change Management: reviewing and implementing requests for changes to the project
Risk Management: assessing the level of project risk and taking action to minimize it
Issue Management: identifying and resolving project issues
Acceptance Management: identifying the completion of deliverables and gaining the customers’ acceptance
Communications Management: keeping stakeholders informed of project progress, risks and issues
