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The Project Life Cycle

 

It is Special Technique which involves all  phases, activities & tasks related to a
Project’s completion. Almost every organization or company finds it useful to
use Project Life Cycle as the basis for creating & finishing their
projects. A Project life cycle figures out that projects have limited resources,
skill & scope  and that there are some
possibility of increments towards Project and concentrate over the Completely
finished Project by considering all related processes, procedures, activities
etc. in a well-organized order.

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Characteristics of Project Life Cycle

 

·        
Identify
a well-defined beginning and the end with

·        
Collaborates
the all liked operations & finds organization for Project

·        
Allows
phase overlapping

·        
Identifies
the required Technology

·        
Allocation
of staff to their right task according to their skill

·        
Cost
estimation at each phase

·        
Ensures
the Risk Management process for the Project

·        
Finds
the capabilities of the stakeholders to influence the project’s application,
scope & other reliabilities.

·        
cost
is higher in the beginning and gets progressively lower as project continue

·        
Identifies
the repair-cost at each phase of Project development

 

There is a large number of models for project development
& its managing but no any agreement among companies about any model. Usually
project management undergoes through 4 phases named as Definition, Planning,
Implementation &  Closing and these
phases are unique among all those models. There is also a phase called
conceptual to find the Feasibility of project.

 

 

Phases

 

The conceptual phase, includes of risk and identifies the
impacts on the time, cost, and performance requirements, together with the availability
of tools from company. This is first effort to find Projects Feasibility.

 

1.    Defining stage:  All
specified requirements of the project are defined, if some              

                                       missing
then some discussions are made to identify them,    

                                       project’s
objectives  are established, staff is
identified separately  

                                       for each
task with right jo & responsibilities are assigned to them. 

 

 

2.    Planning stage: It is mainly to perfect the elements according to our goals
in the

                            found in conceptual design and it firmly identifies the
resources

    
                       required
and the deployment of  time, cost, and
performance

                            parameters to
specific staff or tools. This phase also prepares a

                            proper initial
documentation for future usability. It also     

                            demonstrates the
complete schedule with all list of raw-material  

                            fixture to import
& other administrative planning queries. Costs

                            for each task is identified
& funds are allocated to right people  

                            for specific task
jobs.

 

After the Final-Cost determination for project, a
cost-based analysis with ordered tasks must be conducted to find any
probability if the specified budget exceeds or lacks the project at End. This
is usually a part of Feasibility study at start. There are several situations,
such as in competitive bidding, where costs can be incurred during phases.

 

3.    Executing stage: A major portion of the project work takes place—both
physical and mental. 

                              The physical product is produced (a bridge, a report, a software
program).        

                              Time, cost, and
specification measures are used for control. Is the project  

                              on schedule, on
budget, and meeting specifications? What are the       

                              forecasts of each
of these measures? What revisions/changes are   

                              necessary?

1.    Closing stage:  Closing
includes three activities: delivering the project product to the 

                           customer, redeploying project resources, and post-project
review. Delivery 

                                       of the
project might include customer training and transferring documents.

                                       Redeployment
usually involves releasing project equipment/materials to

                                       other
projects and finding new assignments for team members. Post-project 

                                       reviews
include not only assessing performance but also capturing lessons     

                                       learned.

 

In
practice, the project life cycle is used by some project groups to depict the

timing
of major tasks over the life of the project. For example, the design team

might
plan a major commitment of resources in the defining stage, while the quality

team
would expect their major effort to increase in the latter stages of the project

life
cycle. Because most organizations have a portfolio of projects going on
concurrently, each at a different stage of each project’s life cycle, careful
planning

and management at the organization and project levels are
imperative.

 

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