Download
1 / 14
170 likes | 824 Views
Learn the key phases of Project Life Cycle - Initiation, Planning, Executing, Controlling, and Closing. Understand the steps involved in each phase for successful project management.
E N D
Phases of PLC • Initiation • Planning • Executing • Controlling • Closing
1. Initiation phase • This phase determines which projects should be undertaken. • It examines whether project is worth doing and whether it is cost beneficial to the company when all is said and done. Steps: • Project Definition • Stakeholder Identification • Risk • Constraints
Steps: Project initiation • Defining the major goals of the project • Determine project selection criteria • Conduct a Feasibility Study • Assigning the project manager • Creation of Project Charter • Project Charter formally communicates the initiation of the project. It consists of Project Scope, Project Authority and Critical Success Factors.
2. Planning phase • It is the heart of PLC. • It describes where are you going & how are you going to get there. Steps: • Determining project deliverables • Develop a Project Plan • Writing & publishing a project scope statement • Establishing a project budget • Defining project activities and estimates • Developing a schedule
3. Executing phase • Plans are converted into actions. • Project team members are assigned. • In this phase the most of the project resources are utilized and most of the budget is spent. Steps: • Developing and forming the project team • Directing and leading the project team • Obtaining other project resources • Conducting status review meetings • Communicating project information • Managing project progress • Sign off on project’s completion
4. Controlling phase • This is the phase where performance measures are taken to determine whether project objectives are being met. • If not, corrective actions are taken to get the project back on track & aligned with the project plan. • Change management takes place in this phase. • This phase involves reviewing, managing and implementing changes to the project.
Steps : Controlling phase • Measuring the performance against the plan • Taking corrective action when measures are outside the limits • Evaluating effectiveness • Of the corrective actions • Ensuring that project progress continues according to the plan. • Reviewing and accepting change request
5. Closing phase • It is the phase that is most often skipped in PLC. • It seems that once the product of the project has been produced and the objectives has been achieved, the books are closed & everyone moves onto the next project. • Its during this phase that you would like to celebrate the success of the project & obtain a final sign-off.
Steps : Closing phase • Documenting the lessons learned over the course of the project • After-implementation review • Provide performance feedback • Formalizing the closure of the project • Close-out contracts & Releasing project resources • Archiving projects records • Deliver project completion report
