Project Life Cycle
The Project Lifecycle consists of seven phases intake, initiation, planning, product selection, execution, monitoring & control, and closure. These phases make up the path that takes your project from startto finish.
Intake Life Cycle
Project Intakeis a process of reviewing and evaluating a proposed project during the initiation phase. The purpose is to confirm that the project is feasible and aims to address the stated problem. The process is also intended to review the organizational structure of the proposed project to define whether allocated human resources are sufficient and available for doing the project and producing desired deliverables.
Initiation
This process helps in the visualization of what is to be accomplished. This is where the project is formally approved by the sponsor/client, initial scope defined, and stakeholders identified.
Planning
The planning stage is where the project plans are documented, the project deliverables and requirements are defined, and the project schedule is created. It involves creating a set of plans to help guide your team through the implementation and closure phases of the project.
Product Selection
This process refers to the selection, evaluation, and procurement of IT software that will be used and consumed in the project delivery.
Execution - Implementation
This process is also known as the implementation phase, in which the plan designed in the previous phase of the project activity cycle is put into action. The intent of the execution phase of the project activity cycle is to bring about the project’s expected results. Normally, this is the longest phase of the project management life cycle, where most resources are applied.
Montoring and Control
This process oversees all the tasks and metrics needed to guarantee that the agreed and approved project that is undertaken is within scope, on time and within budget so that the project proceeds with minimum risk.
Close
This is considered to be the last process of the project activity cycle. In this stage, the project is formally closed and then a report is produced to the project sponsor/client on the overall level of success of the completed project.
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