IUBAT- International University of Business Agriculture and Technology

Assignment No:-01

Course Name: Project Management

Course Number: MGT-302
Section: B

Submitted To

SadmanSakib
Lecturer
Department of CBA
IUBAT

Submitted By
Tania Rahman Mim
ID: 18102023
Program: BBA

Date of Submission: 08.07.2020

Project Life Cycle

The project life cycle is a 4-step framework designed to help project managers guide their projects
successfully from start to finish. The purpose of the project life cycle is to create an easy to
follow framework to guide projects.

 Stages of Project Life Cycle:

There are four stages of project life cycle. Those are:
i. Defining
ii. Planning
iii. Executing
iv. Delivering

 Defining:
During the first of these stages, the Defining stage, the project objective or need is identified;
this can be a business problem or opportunity. Every project needs a beginning. And
beginning starts by defining the specifications of the project. To define the project there
need to establish the objectives or goals. Beside this, all the tasks and terms need to be
formed in a specific way. For defining the project there should be some responsibilities taken
by the project managers or related persons. Once the major deliverables and the
participating work groups are identified, and the project team begins to take shape. Approval
is then sought by the project manager to move onto the detailed planning stage.

 Planning:
 The next stage, the planning stage, is where the project solution is further developed in as
much detail as possible and the steps necessary to meet the project’s objective are planned.
Planning means the set of works that planned before starting a project. Plans are developed
to determine what the project will involve, when it will be scheduled. A project plan is
created outlining the activities, tasks, dependencies, and timeframes. By determining the
best plans for a project, it helps to complete the project successfully.

 Executing:
During the third stage, the Executing stage, the project plan is put into motion and the work
of the project is performed. It is important to maintain control and communicate as needed
during execution. By executing the plans, a project reaches to the next level. This is a major
portion of the project where work takes place, both physical and mental. In this stage, the
physical product is being produced and making ready for delivering. So executing the plans
needs to be done to complete the project life cycle.

 Delivering:
During the final closure, or delivering stage, this stage is on releasing the final deliverables to
the customer, handing over project documentation to the business, terminating supplier
contracts, releasing project resources, and communicating the closure of the project to all
stakeholders. Delivering the project product to the customer is important. The resources of
the project usually involve releasing project equipment or materials to other projects and
finding new assignments for team members. It will increase the project’s performance in
many ways. And by delivering the product to the customer the project life cycle accomplish.