Project Life Cycle

Phases of Project Management Life Cycle

Project Initiation y Project Planning y Project Execution y Project Closure
y

Project Initiation
y

Development of business case

Research business problem/opportunity Identify alternative solutions Quantify the alternatives and cost of each solution Recommend a preferred solution to the company Identify any risks and issues while implementing solution Present the solution for funding approval

Project Initiation

Perform feasibility study

Research the business problem/opportunity Document the business requirements for a solution Identify alternative solutions available Review each alternative for its feasibility List any risk with each solution Choose preferred alternative for implementation Document the results in a feasibility report

Project Initiation
y

Establishment of terms of reference

It defines the scope of the project They are the parameters within which the project must be delivered It consists of:
x Project vision x Objectives x scope+

Project Initiation
y

Appointment of project team

Define purpose Key responsibilities Job description Organizational chart Key performance criteria

Setup project office

Project Initiation
y

Perform phase review

Is project on schedule Is budget allocated is sufficient at that point of time Are various issues identified and resolved Is project on track

Project Planning

Project plan Resource plan Financial plan Quality plan Risk plan Acceptance plan Communication plan Procurement plan

Project Planning
y

Project plan
Identify all phases, activities and tasks Sum up efforts to complete those tasks Document all interdependencies

Project Planning
y

Resource plan
Identify types of labor required for the project Identify roles and key responsibilities Identify number of persons for each role Identify type and quantity of equipment required Create detailed resource utilization schedule

Project Planning