What's the Project Lifecycle?

The life cycle of a project

A project stands out for its life cycle, which is usually presented as consisting of phases. The number of phases and their names may vary from one application to another, from one application domain to another and from one author to another. The engineer in charge of a project will sometimes define the phases of the project under its responsibility by taking into account the parameters to the project or the company culture. These differences do not limit in any way the validity and relevance of the model below in four phases proposed the engineer to follow.

Identification phase: demand is clarified, the specified objectives and overall project identified with respect to the product or service to be delivered, the constraints to respect and implementation strategy.

Definition phase: the project content is defined more precisely, detailed planning is established for its duration; timelines, resources and expenditures, as well as policies and management procedures are circumscribed.

Phase: the product or service is actually carried out according to plan and in accordance with the applicant's requirements.

Closure phase: the product or service is given to the applicant, the project is evaluated and performed administrative closure.

There are different life cycles based on a project, not only according to the authors, but also according to areas such as construction, academic research and software engineering (Scrum).

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Project lifecycle is how a project is planned, executed, controlled, and monitored from its inception to its completion.

There are many different models but the level of formality and complexity of the lifecycle for each project is constrained by any number of factors, including budgetary constraints, project team experience, project size, and project complexity.

Thanks En.Alex..

with answer of En.Yaqob & En.Mustafa

A project has a beginning and an end and passes through several phases of development known as life cycle phases. These phases are varied depending upon the industry involved but all follow the same basic steps.

Five main phases of the project life cycle are:

START-UP

DEFINITION

PLANNING

EXECUTION

CLOSE-OUT

Project stages and steps

The first stage

Project planning

- Building the logical framework of the project

- Design the plan of action

The second stage

Project organization

- Human Resources Management

- Design the systems of follow-up and evaluation 

  - Design documentation and reporting mechanisms

- Preparation of project budget and management accounting operations

The third stage

Implementation of the project

- Follow-up project

- Project marketing and services

- Leadership

The fourth stage

Project Evaluation

- Continuous assessment of the project

- Assess the impact and sustainability

The project life cycle consists of four phases, initiation, planning, execution (including monitoring and controlling) and evaluation.

The project life cycle consists of four phases, initiation, planning, execution (including monitoring and controlling) and evaluation. The MPMM Project Management Methodology is an excellent resource for this part of the Unit. The Initiation phase begins by defining the scope, purpose, objectives, resources, deliverables, timescales and structure of the project. The next step is to develop a Business Case, including several possible solutions and a cost/benefit analysis for each. A Feasibility Study should then be carried out to ensure that the chosen solution is feasible and has an acceptable level of risk. The next step is to define the Terms of Reference, followed by the appointment of the project team. The final step is to carry out Phase Review before seeking approval to proceed. The first step of the Planning phase is the creation of a detailed Project Plan which the project manager will refer throughout the project to monitor and control time, cost and quality. The project manager will then create the following plans:

• Resource Plan: to identify the staffing, equipment and materials needed
• Financial Plan: to quantify the financial expenditure required
• Quality Plan: to set quality targets and specify Quality Control methods
• Risk Plan: to identify risks and plan actions needed to minimise them
• Acceptance Plan: 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 produces 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

Once the customer has accepted the deliverables and a Phase Review has been carried out to determine whether the project objectives have been achieved, the project is ready for Closure. A Project Closure Report should list all of the actions required. When this has been approved, the listed actions are completed to release project resources, hand over deliverables, and inform all stakeholders that the project is now closed. Shortly after the project has been closed, an Evaluation (also known as a Post-Implementation Review) should be carried out to determine the project's overall success and find out whether the benefits stated in the original Business Case were actually realised. Any lessons learned should be documented for future projects.

Project Management Life Cycle. The Project Management Life Cycle has four phases: Initiation, Planning, Execution and Closure. Each project life cycle phase is described below, along with the tasks needed to complete it.

The end product of this effort is what the industry terms as-built drawings, or more .... The program (investment) life cycle integrates the project management and ...

Project life style is step by step process  

The Project Life Cycle refers to a series of activities which are necessary to fulfill project goals or objectives. Projects vary in size and complexity, but, no matter how large or small, all projects can be mapped to the following life cycle structure:

• Starting the project
• Organizing and preparing
• Carrying out project work
• Closing the project

Projects are broken down into phases so that extra control can be applied to effectively manage the processes. These phases are further divided into subsets for easy management, control, and planning.

For a project to be successful, the project team must:

• Select the appropriate processes to meet project goals and objectives.
• Use a defined approach focused on meeting the requirements of the project.
• Clearly define and agree upon stakeholder/customer needs and expectations.
• Balance the competing demands of scope, time, cost, quality, resources, and risk to produce the specified product, service, or result.

The Project Life Cycle has been divided into4 phases:

• Initiation
• Planning
• Execution
• Closure

Each phase has activities associated with it. Each activity has an activity definition, guidelines and may have plan templates. These components facilitate the activities performed by the Project Manager.

The number of activities recommended depends upon the scope and duration of the project. A Basic project will involve only a few of these activities while a Major project will involve all the activities in the framework.

It is important to realize that the project life cycle for each project may differ, in both the number of phases it may have and the detail within each of these phases. There're five main phases of the project life cycle, and they're as follows:

1. START-UP:   This phase is where the project objectives are defined and the conceptual aspects of the project agreed.
2. DEFINITION   Once the project objectives have been clearly defined then the appraisal of the solutions is conducted in terms of risks, financial commitment and benefits. The scope of work is now defined in detail. 
3. PLANNING   This phase is where the project is broken down into manageable areas of work and planned in terms of time, cost and resources. This is a continuous process and will extend throughout the execution phase of the project.
4. EXECUTION   During this phase the work is implemented, controlled and monitored.
5. CLOSE-OUT    The final phase of the project life cycle is close-out, where resources are reassigned, the project is handed over and the post-project review is carried out.