Every project requires careful planning so that deliverables are met in a timely, cost-effective and professional manner. In today's economy, project managers must ensure that all allocated resources are used in the most efficient manner. This means a focused and professional project plan which is based on the project life cycle. Here is how the basic structure is laid out:
Initiation Phase
In this phase the project scope and timing are determined. Scope means all the things that must be considered are accounted for (such as budget, time allotment, etc.) and those that are not mandatory for the success of the project must be excluded so as to keep the plan on track in terms of time, budget and stakeholder expectations.
This is also the highest risk portion of the project life cycle because the variables must be determined and if the wrong budget, resources, or timelines are set it could throw the whole project off and risk stakeholder discontinuance.
Planning Phase
In this phase, the detailed planning occurs and the actions to complete the plans are set in motion. Whereas the initiation phase saw the high level planning, this is about creation of project plans that will guide the team through to successful completion.
For example, in the initiation phase the Project Manager might determine that a technical person is required on the team. This portion of the project life cycle will determine who that person should be, and show the actual acquisition of that specific individual to the team.
Execution Phase / Controlling Phase
This portion is usually the longest portion of the project life cycle and will consume the greatest amount of resources. In this phase, the action items in the project plan are accomplished and the physical deliverables are achieved. This phase also shows the implementation of management processes to ensure that time, cost, quality, change, risks, procurements and any grievances or issues are addressed.
Close-out Phase
This phase is the wrap-up phase. The project is formally closed and final reports that summarize the project’s successes and lessons learned delivered to the stakeholders. This phase also shows the return of all equipment, the closure of human resource contracts, and the transfer of documentation and deliverables to the customer or stakeholders.
Post-Implementation Phase
Many companies choose to add on one extra phase to the basic project life cycle structure: the Post-Implementation Phase. One to three months after the completion of the project, a Post-Implementation report is created to evaluate the success of the project and product now that the company has had a chance to evaluate the success of the implementation.
Carrie Lewis - My first stint with writing came at the tender age of four. As is typical of a four-year old lifestyle, I had been put down to nap. As was ...
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