Project Life Cycle Analysis

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For several decades, the project management has been studied in managing the project in the organization. It is essential for the approach of managing effective and systematic to the ongoing operation of the organization. The project management is focused on providing schedule and resource data to top management. They are involving many people and elements in every industry manage projects.

What is project management? Project management is the “application of knowledge, skills tools and techniques to project activities in order to meet project requirement.” That is, project management is an interrelated group of processes that enables the project team to achieve a successful project. However, Stewart, 2008 defines the project
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Based on the guidebook of Project Management Methodology Guideline, it defines the project life cycle refers to the stages of a project that take it from point A to point Z which are from the start until the end of the projects. The phases that involves for managing the project is initiation, planning, execution and controlling, and closing the projects.
Project Initiation Phase: In the first phase of the project life cycle, the project is defined and established. The purpose of project initiation phase is to develop a high level plan and risk assessment for a proposed project and to provide information for portfolio assessing strategic viability the project. It is approach on analyzing the project sponsor’s strategic requirements as well as immediate needs. During the initiation phases, the project manager should be appointed to lead the project. The project manager should be appointing based on his or her experience and skills, then he or she will select the required team members. The project manager and teams should determine the project’s preliminary scope during these phases. It should be continuously alter and sharpen the preliminary scope into one that is complete and accurate. Besides that, the activities involves in initiation phase is undertake a feasibility study, establish project charter, setup Project Office and also performing phase
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This related phases is important to make sure the overall project from the start to end will be manage effectively in order to avoid any risk or problem in the future. In other words, the project team should follow the schedule and the timeline.
The other purpose of project life cycle is to capture and document the best experiences within the organization. So, the processes within each project phase can be improved continually and applied on future similar projects. It would give benefits to the next similar project which can be easier for them to apply past project throughout the new project management activities.
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