In the slides there are 5 nodes in the Project Life Cycle but only 4 nodes in Modules 9 to 14.

These are the following:

(1) Initiating Process – As it involves starting up a new project, the project objective or need is
identified; this can be a business problem or opportunity. An appropriate response to the need is
documented in a business case with recommended solution options. A feasibility study is conducted
to investigate whether each option addresses the project objective and a final recommended solution
is determined then a project is formed and a project team is appointed to build and deliver the solution
to the customer.

The business case includes:

•A detailed description of the problem or opportunity

•A list of the alternative solutions available

•An analysis of the business benefits, costs, risks and issues

•A description of the preferred solution

•A summarized plan for implementation

(2) Planning Process - project solution is further developed, tells everyone involved where you are
going and how you are going to get there.

The purpose of the project planning process is:

•Establish business requirements.

•Establish cost, schedule, list of deliverables and delivery dates.

•Establish resource plan.

•Get management approval and proceed to the next phase.

The basic processes of the project planning are:

•Scope planning - species the in-scope requirements for the project and facilitates creating the work
breakdown structure.

•Preparing the work breakdown structure - specifies the breakdown of the project into tasks and
subtasks.

•Project schedule development – specifies the entire schedule of the activities detailing their
sequence of execution.

•Resource planning – specifies who will do what work at which time of the project and if any special
skills are needed to accomplish the project tasks.

•Budget planning specifies the budgeted cost to be incurred in the completion of the project.
•Procurement planning focuses on dealing with vendors outside of your company

•Risk management planning charts the risks, contingency plan and mitigation strategies.

•Quality planning for quality assurance to be applied to the project.

•Communication planning on the communication strategy with all project stakeholders.

(3) Executing Process - plan is put into motion and performs the work of the project

The execution process involves putting the project plan into action. It is here that the project
manager will coordinate and direct project resources to meet the objectives of the project plan. As
the project unfolds, it is the project manager's job to direct and manage each activity on the project,
every step of the way.

(4) Monitoring and Controlling Process - the most vital part of the project life cycle. To determine the
success rate of the project by monitoring and controlling deliverables to its rightful place. Using tools
and techniques to mitigate changes plan and stick to the plan as much as possible.

(5) Closing Process - emphasis 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.