The project lifecycle involves several stages, from identifying a need to closure. A project manager oversees the process, and team members are responsible for specific aspects. Planning and execution are crucial, and closure involves submitting the project for approval and releasing team members.
A project lifecycle is the process that takes a project from conception to closure. There are many steps in a project life cycle and depending on the type of project, some can take much longer than others. Typically, there is a project manager who is responsible for the overall success of the project. There are also various functional area experts assigned as team members who are responsible for ensuring that certain aspects of the project are implemented correctly.
The first step in the project life cycle is to identify a need. This initial phase defines the project and what the desired result will be. The project manager is assigned and a tentative timeline for project completion is developed. If funding has not been secured, business justifications and funding requests are submitted. There may also be meetings to decide how project milestones will be measured and who will be responsible for each phase of the project lifecycle.
The second step of a project life cycle is planning. Although a higher level plan was presented during the initial phase, the detailed plan and execution plans are defined during the planning phase. Each product is outlined along with an expected completion date. If there are multiple dependencies such as task that needs to be completed before task two can start, there is often a Gantt chart developed so that all team members know who is responsible for what.
The third step of a project life cycle is execution. This is the stage where all plans are put into action. Each team member proceeds with his or her required tasks while the project manager supervises to make sure everyone is on schedule. The project manager also monitors milestones in regards to budgets to ensure that each milestone is completed on budget. If a particular task is at risk, the project manager will work with team members to add additional staff or money so the entire project can stay on schedule.
The last step in a project life cycle is closure. During this phase, individual tasks are completed and the entire project is submitted for approval. If the project was something concrete, such as a new product launch or actual construction, the closure also includes the delivery of the product to the end customer. Team members are released from their project duties and can return to their normal jobs, and the project manager presents a final report outlining the team’s performance on time and budget. Often, the report will include suggestions on how to improve future projects based on your current project experiences, so that the next project manager knows what worked and didn’t work well.
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