Project Management Life Cycle

A life cycle of a project consists of the following steps.

 Understanding the scope of the project

 Establishing objectives of the project

 Formulating and planning various activities

 Executing the project

 Monitoring and controlling the project resources

 Closing and post completion analysis

9.2.1 Phases of project management life cycle Project management life cycle has six phases:

9.2.1.1 Analysis and evaluation phase 9.2.1.2 Marketing phase

9.2.1.3 Design phase 9.2.1.4 Execution phase

9.2.1.5 Control – inspecting, testing, and delivery phase 9.2.1.6 Closure and post completion analysis phase

In this section, let us know about the six phases of project management life cycle in detail. (See Figure 9.1 Project management life cycle)

Figure 9.1: Project management life cycle

9.2.1.1 Analysis and evaluation phase

Analysis and evaluation phase is the initial phase of any project. In this phase, information is collected from the customer pertaining to the project.

From the collected information, the requirements of the project are analysed. According to the customer requirement, the entire project is planned in a strategic manner. The project manager conducts the analysis of the problem and submits a detailed report to the top management.

Project Manager Analysis Report The report should consist of the:

 Details of the project justification

 Details on what the problem is

 Methods of solving the problem

 List of the objectives to be achieved

 Estimation of project budget

 Success rate of completing the project

 Information on the project feasibility

 Information of the risks involved in the project

The important tasks of the project manager during the phase of analysis and evaluation include:

 Specification Requirements Analysis (SRA): SRA has to be conducted to determine the essential requirements of a project in order to achieve the target.

 Feasibility Study: Feasibility study has to be conducted to analyse whether the project is technically, economically, and practically feasible to be undertaken.

 Trade-off Analysis: Trade-off analysis has to be conducted to understand and examine the various alternatives which could be considered for solving the problem.

 Estimation: Before starting a project, estimation has to be conducted on the project cost, effort required for the project, and the functionality of various processes in the project.

 System Design: According to the customer requirement, a general system design has to be chosen to fulfill the requirements.

 Project Evaluation: The project has to be evaluated in terms of expected profit, cost, and risks involved.

9.2.1.2 Marketing phase

A project proposal is prepared by a group of people including the project manager. This proposal has to contain the strategies adopted to market the product to the customers.

9.2.1.3 Design phase

Design phase involves the study of inputs and outputs of the various project stages. (See Figure 9.2 Study of inputs and outputs in design phase)

 Inputs received consist of: project feasibility study, preliminary project evaluation details, project proposal, and customer interviews.

 Outputs produced consist of: system design specifications, functional specifications of the project, design specifications of the project, and project plan.

Figure 9.2: Study of inputs and outputs in design phase

9.2.1.4 Execution phase

In execution phase, the project manager and the team members work on the project objectives as per the plan. At every stage during the execution, reports are prepared.

9.2.1.5. Control – inspecting, testing and delivery phase

During this phase, the project team works under the guidance of the project manager. The project manager has to ensure that the team working under him is implementing the project designs accurately. The project has to be tracked or monitored through its cost, manpower, and schedule. The project manager has to ensure ways of managing the customer and marketing the future work, as well as ways to perform quality control work.

9.2.1.6 Closure and post completion analysis phase

Upon satisfactory completion and delivery of the intended product or service the staff performance has to be evaluated. The project manager has to document the lessons from the project. Reports on project feedback are to be prepared and analysed. A project execution report is to be prepared.

Let us have a quick recap of what is involved in the above phases.

 Analysis and evaluation phase: The preparation stage involves the preparation and approval of project outline, project plan, and project budget.

 Assigning task to the team members: The next stage involves selecting and briefing the project team about the proposals, followed by

discussions on the roles and responsibilities of the project member and the organisation.

 Feasibility study: The feasibility or research stage establishes whether the project is feasible or not and establishes the risk factors likely to be faced during the course of the project execution and the related key factors to overcome the problems.

 Execution phase: A detailed definition and plan for the project and its execution is prepared by the team and coordinated by the project manager.

 Implementation stage: The implementation stage involves the execution of the project as per the plan. This also involves careful monitoring of the project progress and managing the changes, if any, within the scope of the project framework.

 Closure and post completion analysis phase: The final stage involves satisfactory delivery of the product/service to the customers. Upon completion, a project review is to be conducted by the project manager along with team members, sponsors, and customers. A project review process involves discussions about the progress, performance, hurdles that were overcome and problems faced, so that, such instances could be avoided in future projects.

Self Assessment Questions State True or False

1. A life cycle of a project consists of monitoring and controlling the project resources as one of the phase.

2. SRA has to be conducted to determine the non-essential requirements of a project in order to achieve the target.