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The Project Lifecycle
Completion requirements
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Projects are characterized by different phases. These phases are collectively known as the lifecycle of the project. Because projects all differ in terms of scope and complexity, different phases may be applicable to any one project. Recall the earlier example of staging the olympic games versus relocating offices? However, there are five general processes present in almost every project, namely initiating, planning, executing, controlling and closing. Different types of lifecycles are present in different types of industries that make sense in specific projects. The type of industry as well as the type of project will determine to a large extent which type of lifecycle will be applicable. Let us consider some examples: It is generally agreed that any project goes through a basic of four phases in its life cycle.
Click here to view a video that explains the 4 stages of project life cycle.
The phases are laid out as follows, with some examples of processes followed:
|
PHASES |
Concept and Initial Phase |
Design and Development Phase |
Implementation or Construction Phase |
Commissioning and Handover Phase |
|
PROCESS |
Feasibility Study |
Design Product Detailed Schedules WBS (Work Breakdown Structure) CPM (Critical Path Method) Budgets |
Award Contracts Issue Instructions Procure Equipment and Services Manufacture the Product or Solve the Problem |
Start-up and Test Product Has Problem Been Solved? Produce As-built Drawings and Operation Manuals |
|
OUTPUT |
Feasibility Project Proposal Implementation Strategy |
Baseline Plan (design and schedule) |
Certificate of Completion |
Close-out Report |