An implementation of a new project has many different phases that must be addressed in order to have a successful outcome. The phase of a project make up what is known as a project life cycle. A generic project life cycle will be introduced to aid in the understanding of this process. Each of the phases of the life cycle must be examined along with the process groups involved. A look into how a project life cycle is used in specific industries will also be touched on. The completion of the examination of the project life cycle will also aid in the determination of the proposed topic of my final project. The life cycle is an essential tool used in an effective completion of a project. Generic Project Life Cycle The project life cycle …show more content…
These groups are classified into six categories, which are initiating, planning, executing, monitoring and controlling, and closing. The initiation phase of a project is the first phase in a PLC. This is where the project manager is selected, project vision and concepts are generated and the need for the project is verified (South University Online, 2016, para. 5). The planning phase is the second phase involved in the PLC. This is where approval for project occurs and the planning of the projects scope, schedule, budget, communication plan, and risk plan all begin (South University Online, 2016, para. 6). The execution phase is the third phase of the PLC. During this phase the project is started and is being monitored, controlled and managed (South University Online, 2016, para. 7). The monitoring and controlling occurs during this phase and plays a key role in a successful completion of the project. A project manager must monitor and control risk involved in a project in order to ensure a successful completion (Kerzner, 2013, p.876). Well, the closing phase of the PLC is the final phase. During this phase the project manager along with the project team must determine if the scope of the project has been completed and accepted by the sponsor (South University Online, 2016, para. 8). This also includes the finishing documentation required for the project such as contract closures and publishing a …show more content…
The industries of construction, information technology (IT), and business projects all use a form of life cycle analysis. The similarities seen among these industries is that they all use the same basic phases of initiating, planning, executing, and closing (Kerzner, 2013, p. 82). The difference between these industries lies within the closing phase. Manufacturing uses its closing phase to run a final audit, IT uses this phase to convert software over to new products, well the construction industry uses this phase to test and complete commissioning (Kerzner, 2013, p.82). These life cycles are very important and have led me to the subject of my final
The initiation phase of a project is not complete without a clearly defined goal and realistic, measurable objectives that describe the business benefits which are expected to be delivered upon completion of a project (Laureate Educatio...
The final activity undertaken on any project is a review of its overall success by an independent resource. Success is determined by how well it performed against the defined objectives and conformed to the management processes outlined in the planning phase. To determine performance, a number of questions are posed. For example: o Did it result in the benefits defined in the Business Case? o Did it achieve the objectives outlined in the Terms of Reference?
This process captures those activities which can be completed simultaneously and those that must be completed prior to beginning another phase, the “critical” activities (Grochels, 2012). Therefore this method gives the product manager knowledge of how long the project will take, which activities must be completed on time, how much it will cost to speed up the process and what the least costly way to finish the project faster would be (Baker, 2002). These benefits greatly increase the probability of a project being completed on time and on schedule, however they system does have
For every organization, they have their own organizational goals and standards. So based on their goals and standards, they have different things to do. The PMBOK® Guide consists of five process groups or phases which are Initiating, planning, executing, monitoring and controlling, closing phases; these are the standard practices for a project. Initiating process (Schwalbe, 2014): In the initiating process phase, the project is defined and given approval for the project.
Large and small businesses, governments, and schools strive to build the next new gadget, manage resources more efficiently, and teach or train in more creative ways. If they set out blindly on a task without proper oversight and thought about the process, then surely the result would be a dismal failure. Project management enables these entities, and various others, to carefully consider the many variables before, during, and after the project actually takes place. Project management refers to the careful planning, organization, and management through a single one-time activity. Projects are non-routine tasks that are set out to be accomplished for a specific amount of time (Trelles-Duckett & Lonergan , n.d.). Projects have an absolute
This process is aimed at ensuring the project being pursued has a potential of delivering by adhering to the allocated time, sticking to the budget and very important, meeting customers specifications (Mott McDonald, 2002). It involves assessing the projects at critical stages (also referred to as gates) in its lifecycle and thus assuring it can advance to the next stage successfully. This function is performed by an independent experienced team, after which they assure the Senior Responsible Owners that the project can progress successfully (National Academies US & National Research US, 2004). There are six critical stages (gateways) in the lifecycle of a project that the independent gateway review team will evaluate and thus provide th...
In every project there are always some universal characteristics that will be shared. They all have a comprehensible and established purpose and very distinct life durations. Overall, all projects are doing something that may possibly be new or yet a one time endeavor but have explicit requirements which include; time, price, and performan...
Project Life Cycles. (2013, January 1). Project Life Cycles. Retrieved June 29, 2014, from http://www.successfulprojects.com/PMTopics/ProjectLifeCycles/tabid/113/Default.aspx
It is a step of defining the goals of the projects and the results are aimed at reaching certain levels of productivity of customer satisfaction. The second stage is measure, and it is the stage of collecting data and facts and evaluating current operational performance. The third stage is analyze with the purpose of developing methods and theories that will best suit the solving of the problem; it is also a stage of detecting cause-and-effect ties of the processes. The fourth stage is improve, it is aimed at generating ideas for reaching the desired process improvement. Finally, there is the control stage that is about monitoring the operations to find out whether the process of improvement is smooth and the problems were solved (Meredith & Shafer,
At first should the terminology be defined. A project is "a unique set of coordinated activities, with a definite start and finishing point, undertaken by an individual or organisation to meet specific objectives within defined, scheduled costs and performance parameters" (BS 6079-1,200:2, Material of Sunderland 2005, page 5). The individual who undertakes the organisa-tion is usually the project manager. This person plays a special role and is supported by his team.
The intended audience of this document is the project team, project sponsor, management and all other
A project is a temporary endeavour undertaken to create a unique product or service. They are goal oriented, have a definite start and finish time, must be done within cost, schedule and quality parameters. Projects involve the coordinated undertaking of interrelated activities (Project Management: Achieving Competitive Advantage). According to Tom Peters, “Projects, rather than repetitive tasks, are now the basis for most value-added in business”. Based on this, it is clear that projects are of utmost importance to businesses in both the service and the manufacturing industries.
Throughout my senior project I have learned a collection of different things about me. I have learned that I disgust work that I find is unnecessary. If I find the work to be unnecessary I would just shut down and get aggravated. I also realized that I’m the type of person to try to do something, but if I don’t get it I will eventually just give up. I just think the task at hand is not for me. However, I cannot have that type of attitude towards the senior project, because this senior project determines if I will graduate on time. I realize my attitude is my biggest problem when it comes to my work, because it gets in the way of my work. My attitude is my biggest challenge because I refuse to change it and I hate when people talk about my
Project Management Institute (PMI) (2013). Project Management Professional (PMP) Handbook. [ONLINE] Available at: http://www.pmi.org/certification/~/media/pdf/certifications/pdc_pmphandbook.ashx. [Last Accessed 20 April 2014].
When planning a new project, how the project will be managed is one of the most important factors. The importance of a managers will determine the success of the project. The success of the project will be determined by how well it is managed. Project management is referred to as the discipline that entails the processes of carefully planning, organizing, controlling, and motivating the organization resources so as to foster and facilitate the achievement of specific established and desired goals and meet the specific criteria of success required in the organization (Larson, 2014). Over the course of this paper I will be discussing and analyzing the importance of project management.