Knowing the Project Life Cycle Part 1

01 October 2010

In a project life cycle all of the components of what it takes to properly construct and complete a project are included. This is a continuous developing strategy that can be utilized by a business for sustainable project development over any length of time they decide to specify.

With a project life cycle there is no beginning or end, just constant movement with new interjection of ideas and dejection of completed deliverables.   Just like the name indicates this is a cyclic fashion to conducting a project that is has a beginning when an idea is placed in the lifecycle of the project.

This beginning of the project life cycle starts with the development of the business case and the feasibility study is undertaken. When positive results from these two components are achieved the next step should be preformed. This next step is the establishment of a project charter.

In the project charter of the projects life cycle the team is assembled and the business case is reviewed for the best approach to completing the project. All of these components are considered the initiation phase of the project.

The next step in the project life cycle is the planning stage. This is where the heart of the project is documented. The current method for conducting this phase of the project is with the use of project management templates. They serve as a guide and are easy to fill out for the all the different plans that must be worked out so the project can run smoothly.

The different plans that must be documented in this part of the project life cycle are the project itself, the resources, financial backing, quality plan along with the risk assessment strategy, communication plan and the procurement plan.  

After all of this is documented and approved the contacting of the necessary suppliers can be accomplished. This part of the plan needs to have a specific type of document that will clearly state the intentions of the business sending out the requests. This part of the project life cycle is where the tender process, the statement of work is formulated. This completion allows for the requests for information and requests for proposals to be sent out with the necessary details that have to be included so the correct resources are obtained.