Discussion on Project Life Cycle
Nikhil Reddy Sappidi
University of Cumberland
19th May, 2021
1. Important concepts
The project life cycle is the series of phases that a project undergoes from its initiation to its closure, this phase is determined by the management of the project and the companies involved in the project. The characteristics of the project life cycle are starting of the project, organizing and preparing, carrying out the project, and closing the project (Bao & Darko, et al 2018). There are four phases of the project life cycle the initiation phase where the goals of the projects are defined and the manager creates a project charter. The planning phase which purpose is to come with a detailed strategy on how the performance of the project will take place and how it will be successful, the planning phase consists of two parts, the strategic planning where there is a development approach to the project and the implementation planning where decisions are sorted. The executions where the decisions and the activities to be carried out in the project are defined and the planning is implemented and the termination phase marks the closure of the entire project.
2. Methods used
The methods used are initiation, in this method, the project sponsor is identified, scopes and deliverables defined, budget is approved, the project manager is assigned and the project charter is approved to proceed to the next phase. Implementation method, the project team is hired and developed, procurement takes place, project work is underway, the project must be monitored and changes managed and communication to stakeholders is an important outgoing activity. Communication whereby the project manager makes sure that there enough open channels of communication to allow for the free flow of information between the project teams (Chan & Chen, et al 2018). Controlling whereby standards are set, actual performance measured and the corrective action is taken, in this method, observations are also made concerning the present and the past control actions assessing the output of the future.
3. terms used
· Project – an individual or group of enterprises that are planned carefully to achieve a particular aim.
· Team – a group of people working towards achieving the same set objectives.
· Control – the power to influence an individual or a group of people's behavior.
· Management – the process of dealing with or controlling things or people in a grouped setting.
4. Points to understand
The project life cycle is important because it improves how the team members communicate, it provides the project delivery with a good structure, provides the evolution of the project with progressiveness, it enables structured reviews that support governance and it makes it easy for the team members to understand what they are supposed to do and how to do it (Chan & Darko, et al 2018).
5. Response
Yes they are disadvantages like high risks and uncertainty, out of place for long term projects, not the best choice for complex projects, and the working end only after the completion of the last stage
Reference
Bao, F., Chan, A. P., Chen, C., & Darko, A. (2018). Review of public-private partnership literature from a project lifecycle perspective. Journal of Infrastructure Systems.