Project Life Cycle

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Project Life Cycle
Introduction:
Projects have a beginning and end. The project life cycle has four phases, Concept (Initiation), Design (Planning), Implementation (Execution) and Closing off. Taken together, these phases represent the path a project takes from the beginning to its end and are generally referred to as the project “life cycle.” The knowledge and experience needed on the project can vary in each phase.
Project Life Cycle Phases:
1. Concept (Initiation) Phase:
Concept phase involves defining the purpose and scope of the project, justification and solutions to be implemented. It also involves recruiting the project team and carrying out a phase review before proceeding to the next step.

Business case: During this phase the project
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The final step is to undertake an Evaluation to determine the extent to which the project was successful and note any lessons learned for future projects. The Project Closure Report should list all the activities required to close the project, to ensure that project closure is undertaken smoothly and efficiently. Once the report has been created and approved, the closure activities specified within the report are undertaken and the project is then officially closed. One to three months after the project has been closed and the business has begun to experience the benefits provided by the project, it is important to undertake an Evaluation, often referred to as a Post Implementation Review (PIR). This allows the business to identify the level of success of the project and list any lessons learned for future…show more content…
Certification is more important on an external project manager compared to an internal project manager. External project managers tend to be more efficient than the ones, simply because if an external project manager is not good, he is eliminated on the spot, and the company searches for another one. Budgets are also vastly different as the external project manager has higher funds their accountable for when compared to the internal project manager.
The degree of human skills, conceptual skills and technical skills, budget, team size and duration are very important when compared to the internal project manager. The level of accountability is also different as per surveys the internal project manager is hugely having issues with project time and an external project manager has to account to stakeholders, project costs and time spent on project. Internal project managers are more involved in simultaneous projects compared to the external project
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