A Project Life Cycle’s Phases
Projects are undertaken by organizations, and the analogy of a project having a life cycle is incredibly beneficial. As defined, a project is a transitory undertaking. If you’ve ever been a part of a project you loathe, rejoice: it must come to an end at some point! Projects are also conceptualized and phased. Projects will be divided into four stages:
- Concept
- Development
- Implementation
- Close-out
The feasibility of the project is examined during the concept and development phases. A general appraisal of the project, why it would be helpful, and preliminary cost projections are all part of the concept phase. Projects that demand a significant time investment, or are inappropriate or costly for a company, should be ignored or culled at this time.
The development phase clarifies all parts of the project charter, including what the project will achieve, who will carry out the tasks, how long it will take, and how much it will cost. Although all of the planning is complete, no actual work on the project has been done at the end of the development phase. Project plan is prepared in the development phase.
The project’s work is done and delivered during the implementation and close-out phases. During the implementation phase, the team develops the deliverables, which are the items specified in the project plan. Controlling any changes to the plan, such as money, time, or deliverables, is also part of the implementation. The work is finished and delivered during the close-out phase. During this phase, the customer may be questioned about the project’s acceptance and quality.