My Project Life Cycle

My Project Life Cycle

29 December 2010

The cyclic pattern that a project life cycle follows is the logical progression for a success result. The four phases of a project lifecycle are the all important initiation followed by planning, execution and then conclusion.  Each of these phases is dependent on the previous one for it to be successful and accurate.

The initiation phase is the part that lays the firm foundation on which the rest of the project life cycle is dependent on. Just like a building will crumble if the foundation is weak, so will a project. For this reason the business case must be made up of sound components. One of the very important parts of the initiation phase is taking the scope and the goals of the project and investigating what the target audience thinks of them in the feasibility study.

So much relies on the feasibility study that its importance cannot be understated. The target audience must be indentified along with any possible alternative target audience. The main focus is on whether they will spend their revenue on the deliverable in quantities sufficient for the project to be a viable economic source of revenue. Without this the project is not worth the time or resources to produce.

The planning phase of the project life cycle is another critical step in the overall process of the project being a success. This is where the actual procedures and processes will be laid out for all of the team members to follow. The better this part of the project is laid out with little to no ambiguity, the easier and faster the project will progress thru the execution stage.

The different plans that are developed in this part of the project life cycle are the actual project plan, the resource plan, the financial plan, the quality plan, the communication plan, the procurement plan and the all important risk plan. Each of these plans must be completed correctly for your project to have a chance of being brought in on budget and in a timely manner.

The project life cycle is a cyclic progression for a project to follow. Each phase being dependent on the other for success, with a flaw in any part of it, the entire project can come to a halt and cause the project to fail.