Description
The project lifecycle is a framework used to guide the development and management of a project. It includes various phases that help to organize and structure the project work. The following are the common phases of a project lifecycle: 1. Initiation: This is the first phase of the project lifecycle, where the project is conceptualized, and its objectives are defined. The project manager identifies the stakeholders, resources, and constraints for the project and prepares a project charter. 2. Planning: In this phase, the Project Manager creates a comprehensive project plan that outlines the scope, objectives, deliverables, schedule, budget, and quality standards for the project. The project plan also includes risk management, resource management, and communication management plans. 3. Execution: This phase involves the actual implementation of the project plan. The project manager coordinates the project team to carry out the planned activities and ensures that the project deliverables are produced according to the agreed-upon quality standards. 4. Monitoring and Control: This phase involves tracking the project's progress, identifying any deviations from the plan, and taking corrective actions to keep the project on track. The project manager also monitors project risks and makes adjustments to the project plan as necessary. 5. Closure: In this final phase, the project is completed, and the project deliverables are formally accepted by the stakeholders. The project manager conducts a post-project review to evaluate the project's performance and identify lessons learned for future projects. These phases are iterative, meaning that the project manager may need to revisit previous phases as the project progresses to ensure that the project is completed successfully.
Project Lifecycle Phases
