The process groups have no direct link to the Life Cycle. One or more processes from a process group are usually Executed at least once in each phase. Identifying content-related and temporal dependencies is a critical task. Decisions in individual projects often have an impact on other projects. An interdependence analysis like that of Prof.
The interdependence analysis is intended to identify content-related, technical and resource-related interactions synergy and conflicts. The projects are shown in a matrix as rows and columns, compared in pairs and evaluated with a 3-stage evaluation factor 0- no influence, 3-medium influence, 6-strong influence. It can be determined beforehand what type of influence content, technology, resources, etc.
The resulting column and row totals provide information about the degree of influence. The success of the project mainly depends on the project execution phase. The final project, deliverable also takes shape during the project execution phase.
There are a lot of essential things that are taken care of during the execution phase. Listed below are a few among them:. During the project execution phase, it is essential to get regular project updates as it provides the required information and even identifies the issues. Before you kick-off a project meeting, be clear about the agenda and make team members aware of what the meeting is all about well in advance. If communication is timely and straightforward, the productivity of ongoing projects and those that are in the pipeline will not get affected.
Problems within the project are bound to occur. So make sure all problems are solved in the beginning. The project monitoring and control phase is all about measuring the performance of the project and tracking progress. It is implemented during the execution phase. The main goal of this phase is to check whether everything aligns with the Project Management plan , especially concerning financial parameters and timelines.
It is the responsibility of the project manager to make necessary adjustments related to resource allocation and ensure that everything is on track.
To aid this, a project manager may conduct review meetings and get regular performance reports. Monitoring project activity after the project execution phase will allow the project manager to take corrective actions. Meanwhile, considering the quality of work will also help to make the necessary improvements. Keeping an eye on the budget will help to avoid unnecessary expenses resources. With much time and effort invested in the project planning, it is often forgotten that the final phase of the Project Management life cycle phases is equally important.
Around this time, the final product is ready for delivery. Here the main focus of the project manager and the team should be on product release and product delivery. In this stage, all the activities related to the project are wrapped up. The closure phase is not necessarily after a successful completion phase alone.
Sometimes a project may have to be closed due to project failure. Upon project completion and timely delivery to clients, it is the role of the project manager to highlight strengths, list the takeaways of the project, identify the ambiguities and suggest how they could be rectified for future projects.
Once the product is handed to the customers, the documentation is finalized, the project team is disbanded, and the project is closed. The generic life cycle structure commonly exhibits the following characteristics:. These features are present almost in all kinds of project life cycles but in different ways or to different degrees.
The intent of the adaptive life cycles lies particularly with keeping stakeholder influences higher and the costs of changes lower all through the life cycle than in predictive life cycles. After the successful accomplishment of the project, there may be a few unexploited project resources, including the remnant budget, which can be used by the project later. These are recorded as surplus resources and budget to prevent wastage; this is the last of the Project Management steps before the conclusion of the phases of the Project Management life cycle.
Give yourself the chance to gain the best skills and practices in Project Management with the PMP certification training for enhanced efficiency and productivity while managing projects. PMP Certification. Project Management Fundamentals. In the world of ever-changing technology and business trends, project management is in great demand. In this Topic, we are going to learn about the Project management life cycle. According to PMI, a project is defined as temporary with a definite beginning and end in time.
Also, the project is unique without routine operation and meant to meet the singular goal with a specific set of operations. PMI further defines project management as the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. Whether the project is software development , or new product launch, or even a movie, its management will progress through five life cycle phases. This is the starting point of the project. The project gets conceptualized in this phase.
In this stage, the following steps are implemented:. This is the second phase of project management. During this phase, a detailed project plan is created. This plan includes tasks, resources required, timelines, cost, etc. In addition, further planning for prioritizing requirements is done. Gantt chart, which indicates timelines for the various task, is one of the important documents created for planning.
Let us discuss the life cycle phases in detail, starting with program definition in the next section. So in this phase, there are two major activities that are performed, which are further elaborated in the sub-phases, which we will be discussing later.
First, in this phase, the business case and desired business outcomes are outlined and translated into the strategic objectives of the program. Then a high-level plan, which indicates how these activities will be carried out in order to realize the objectives, is created.
The major output of the program definition phase is, therefore, the program management plan. As we have seen before, the program definition phase is divided into two sub-phases program formulation and program preparation.
We will look at these phases in detail in the following section of the program lifecycle management tutorial. As mentioned already, there are multiple phases involved in the lifespan of a program. In program lifecycle management, a phase is defined as the stipulated time frame within which a series of events and activities take place as part of the development of the program.
There are five dominant phases that determine the successful tenure of a program. They are:. Let us discuss the conceptualization phase first in the next section of the program lifecycle management tutorial. This phase determines the program objectives and goals that will receive complete support and approval from the members of the executive committee, stakeholders, and the portfolio management committee.
Before approval of the program, the boards comprising executive and stakeholder members carry out a selection process by preparing a mandate, to ascertain the pros and cons of implementing the program in the organization. The program mandate, also known as the program brief, consists of minimum objectives of the program, its benefits, and the manner in which the program aids in achieving the strategic goal of the organization. The key elements that are involved in the selection and commencement of a program are:.
We will continue discussing the conceptualization phase in the next section of the program lifecycle management tutorial. After drafting the program charter, a complete program development plan is created with three main statements, namely:.
Value, which refers to ascertaining the methods of managing the affairs of the program on account of trade-offs. Vision, which is the state of the company after the closure of the program. Once the program charter is finally sanctioned, the stakeholders sign the document, and a Program Manager is appointed to officially take charge of the program.
Once the program has been approved, the setup phase begins whereby the factors that enable the attainment of program objectives are determined. Once the factors are analyzed, the Program Manager categorizes the projects to be associated with the program. The projects are selected based on the cost, technical relationships, and regulatory factors. We will continue learning about the setup phase in the next section of the program lifecycle management tutorial.
The program set up phase is the core area of planning the execution of the program and involves making many decisions and creating several documents such as:. Let us look at the construction phase in the next section of the program lifecycle management tutorial.
The construction phase is a very important phase of the program lifecycle management as it builds the program management and technical teams based on establishing the rules and regulations that govern the program.
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