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The project life cycle consists of four phases, initiation, planning, execution (including monitoring and controlling) and evaluation
Thanks for the invitation. Project life cycle consists of projects divided into phases to provide better management control.
The five core segments of the project life cycle are START-UP, DEFINITION, PLANNING, EXECUTION and CLOSE-OUT.
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
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1 Initiation
2 Planning
3 Execution
4 Control
5 Closure
What is the Project Life Cycle ?Every project has certain phases of development. A clear understanding of these phases allows managers and executives to maintain control of the project more efficiently.
By definition, 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.
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.
The five main phases of the project life cycle are as follows:
START-UP This phase is where the project objectives are defined and the conceptual aspects of the project agreed. This may be the phase where a problem is identified and potential solutions suggested.
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. (6 Important considerations when defining your Project)
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.(6 Helpful hints when Planning your Project)
EXECUTION During this phase the work is implemented, controlled and monitored.
CLOSE-OUT The final phase of the project life cycle is close-out and demobilisation, where resources are reassigned, the project is handed over and the post-project review is carried out.(Project Close-out and handover – a general overview)
It is important to ensure the project life cycle used on your project is appropriate to the work being carried out and split into distinct and manageable phases.
The project life cycle also allows for the gate procedure to be used. This is a tried and tested method for delivering projects on time, within budget and to the expected quality targets. At each stage, approval is generally required from outside the project team before proceeding to the next stage.
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. Project life cycle:The project is going through different stages of evolution during his life and because of the length of time required for implementation of the projects usually advisable to divide the period into phases and is inserted or business activities to be performed at each stage. It called the stages of this development project life cycle, and there is no standard life cycle to suit all projects but the life cycle vary from project to project depending on the nature and size of the project.The life cycle consists usually of six stages1. The idea of the project realization stage.2. feasibility study stage.3. Develop and identify needs stage.4. Implementation phase / production.5. operation phase.6. The end of the project phase.It is worth noting that not all projects need to make all the previous stages, but stages and the need to deepen it may vary depending on the type and nature of the project, through a clear understanding of these different phases administration can control the course of the project to reach the goals
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To put it simply Project Life Cycle is the series of phases that a project passes through from its initiation to its closure and the phases are generally sequential.
