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Project Management Life Cycles
Transcript of Project Management Life Cycles
Project Monitoring and Control
Initiation begins when someone in an organization has a project idea. The idea may be internally generated or may be the consequence of a contract with outside customers. Initiation is complete when a project charter and preliminary scope statement have been prepared and a project manager has been assigned to the project.
Depending on the project management methodology, the protocol for project planning will be different. For example, in traditional project management, the plan provides an outline of the anticipated project constraints (schedules, budgets, etc.) through each of the five stages: initiation, planning, execution, monitoring, and completion. In contrast, agile projects cannot be planned from beginning to end due to the on-demand nature of agile work. Instead, the plans are created and adjusted throughout the project life-cycle as needed. There are many ways in which the range of methodologies are represented in a different project plans.
Project planning is an important aspect of successful project management. Project planning should include clear guidelines for managing scope, time, cost, quality, and risk. Depending on the complexity of the project, project plans will vary in detail. For instance, a project to landscape a new yard would, in most cases, have a very generalized plan, while a project to increase international awareness of a certain upcoming product would have more in-depth, comprehensive plan.
also referred to as project management cycles, are comprised of a project’s full set of phases from beginning to end. A project management cycle is carefully designed to assure the best strategy for the implementation of a project’s frameworks, methodologies, and processes. Because all projects are different, project management cycles are unique to every project.
This is the phase in which the deliverables are physically built and presented to the customer for acceptance. While each deliverable is being constructed, a suite of management processes are undertaken to monitor and control the deliverables being output by the project. These processes include managing time, cost, quality, change, risks, issues, suppliers, customers and communication.
During this phase, the project manager monitors the project timeline, project plan and team member performance. He may set up project review meetings and require periodic project performance reports. He is responsible for monitoring the project budget, determining if key constraints are affecting the success of the project, and making necessary adjustments to the project plan.
This stage involves assessing the project results, obtaining customer approvals, assigning project team members to new work, closing financial accounts and conducting a post-project evaluation. Outputs from this stage may include final, accepted and approved project results and recommendations and suggestions for applying lessons learned from this project to similar efforts in the future.