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The Project Life Cycle refers to a logical sequence of activities to accomplish the project’s goals or objectives. Regardless of scope or complexity, any project goes through a series of stages during its life. There is first an Initiation or Birth phase, in which the outputs and critical success factors are defined, followed by a Planning phase, characterized by breaking down the project into smaller parts/tasks, an Execution phase, in which the project plan is executed, and lastly a Closure or Exit phase, that marks the completion of the project. Project activities must be grouped into phases because by doing so, the project manager and the core team can efficiently plan and organize resources for each activity, and also objectively measure achievement of goals and justify their decisions to move ahead, correct, or terminate. It is of great importance to organize project phases into industry-specific project cycles. Why? Not only because each industry sector involves specific requirements, tasks, and procedures when it comes to projects, but also because different industry sectors have different needs for life cycle management methodology. And paying close attention to such details is the difference between doing things well and excelling as project managers.
The MPMM™ Project Management Life Cycle comprises four phases...
Initiation involves starting up the project, by documenting a business case, feasibility study, terms of reference, appointing the team and setting up a Project Office.
Planning involves setting out the roadmap for the project by creating the following plans: project plan, resource plan, financial plan, quality plan, acceptance plan and communications plan.
Execution involves building the deliverables and controlling the project delivery, scope, costs, quality, risks and issues.
Closure involves winding-down the project by releasing staff, handing over deliverables to the customer and completing a post implementation review.
The MPMM™ Project Management Life Cycle comprises four phases...
Initiation involves starting up the project, by documenting a business case, feasibility study, terms of reference, appointing the team and setting up a Project Office.
Planning involves setting out the roadmap for the project by creating the following plans: project plan, resource plan, financial plan, quality plan, acceptance plan and communications plan.
Execution involves building the deliverables and controlling the project delivery, scope, costs, quality, risks and issues.
Closure involves winding-down the project by releasing staff, handing over deliverables to the customer and completing a post implementation review.