Project Management Life Cycle

What is Project Management Life Cycle?

• A step-by-step framework of best practices used to shepherd a project from its beginning to its end.

• A tool employed to monitor and keep tabs on the advancement of a project's various stages and tasks.

• A method for calculating project costs involves a systematic approach that takes into account various factors and variables.

• A technique aimed at effectively mitigating and controlling potential uncertainties and challenges within a project.

Reorder the Phases of Project Management Life Cycle.

• Closing

• Initiation

• Execution

• Planning

Categorize the options into the right categories

Groups:

(a) Initiation

,

(b) Planning

,

(c) Execution

,

(d) Closing

• Business Case

• Project Office

• Risk Management

• Monitor and Control

• Terms of Reference

• Time Management

• Project Closure

• Project Plan

• Procurement Plan

• Project Team

• Build the Deliverables

• Cost Management

• Financial Plan

• Quality Plan

• Feasibility Study

• Risk Plan

• Change Management

• Resource Plan

• Project Competition

• Quality Management

During this phase a business problem or opportunity is identified and a business case providing various solution options is defined.

• Project Initiation

• Project Planning

• Project Execution

• Project Closing

This phase involves detailed planning, including defining the project scope, creating a detailed project plan, developing a budget, and establishing the project schedule.

• Project Initiation

• Project Planning

• Project Execution

• Project Closing

This is where the actual work of the project takes place. Documentation during this phase includes progress reports, meeting minutes, change requests, and updates to the project plan. The duration of this phase can vary widely based on the project's size and duration.

• Project Initiation

• Project Planning

• Project Execution

• Project Closing

It involves releasing the final deliverables to the customer, handing over project documentation to the business, terminating supplier contracts, releasing project resources and communicating the closure of the project to all stakeholders.

• Project Initiation

• Project Planning

• Project Execution

• Project Closing