4 Phase Project Life Cycle

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The Four Phases

Initiation Planning Execution Closure

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The Initiation Phase

The Initiation Phase Activities:

Development of a Business Case Undertake a Feasibility Study Establish Terms of Reference Appoint a Project Team Setup a Project Office

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The Planning Phase

The Planning Phase Includes

Creation of Project Plan, Resource Plan, Financial Plan, Quality Plan, Risk Plan, Acceptance Plan and Procurement Plan. Contract the suppliers

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The Execution Phase

Typically the Longest Phase of the Project Mobilize the team to execute the Project Plan Monitor and Control the activities undertaken by Project team in the areas like Time Management, Cost Management, Quality Management and Risk Management Update the Project Plan, Schedule, Budget and Business Case if needed

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The Closure Phase

Demonstrate that the project is complete Assess the success of the project Received Feedback may result in further refinements

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