Project Management Life-Cycle
There are 4 Major Phases in this Project Management Life-Cycle are as follows: project management life-cycle Project Initiation Phase: It is the first phase in the project management life-cycle (i.e.) It is the starting of a new project by defining its objectives, scope, purpose and deliverables to be produced and hiring project team, setup project office are also include in this first phase In overall there are 5 key steps are involved in this initiation phase. Develop a Business Case: Helps to project start up by describing the business problem or opportunity, listing the alternative solutions, undertaking a cost / benefit analysis and selecting the preferred solution to be delivered by a Project. Feasibility Study: The process of completing a Business Feasibility Study by defining the business problem / opportunity and the alternative solutions identified are likely to satisfy the requirements of the customer. Identifying all of the alternative solutions available and review each solution to determine its feasibility, List any risks and issues with each solution then Choose a preferred solution for implementation. Project Charter: It sets out the project vision, objectives, scope and implementation, thereby giving the team clear boundaries within which the project must be delivered. Listing out the key roles and their responsibility and creating organizational structure for the project and make documentation for over all implementation plan. Finally listing the risks, issues and the assumptions in this project charter. Project office: Identifying the right location for the Project management Office and ensuring the correct infrastructure with right equipment and tools. Phase Review Form: First, a Project Review is conducted to measure the deliverables produced by the project, then the results of the review are documented on this Phase Review Form which is presented to the sponsor for approval. This phase is completed at the end of the project initiation phase to tell the sponsor whether the project has achieved its objectives to date and the budget allocated was sufficient at this point. Project Planning Phase: It is the second phase in the projectmanagement life-cycle. It involves creating of a set of plans as helping guide to the team through the execution and closure phases of the project. The plans created during this phase will help to manage time, cost, quality, change, risk and issues. They will also help to manage staff and external suppliers, to ensure that to deliver the project on time and within schedule. The following are some key steps are involved in this planning phase. Project Plan: In this part the first thing is to identifying all the phases, activities and tasks And then calculate the sum of effort needed to complete those tasks. Next to Identify the Work Breakdown Structure then create a detailed project planning schedule. Resource Plan: It helps to identify all of the resources required to complete your project successfully. Then creating a resource schedule, which enables to plan the consumption of each type of resource. Financial Plan: A financial plan identifies the financial resources required to undertake a project.(i.e) It includes list the types of costs to be incurred on the project, Identify when the costs will be incurred by completing an expense schedule and Identify the cost per activity by completing an activity expense schedule. Quality Plan: Quality can be defined as the extent to which the final deliverable conforms to the customers requirement. Creating a quality control plan, by scheduling the control activities and listing the quality assurance activities required to assure quality. Finally building a quality Assurance plan by creating an activity schedule. Risk Plan: Risk Management plan helps to identify risk and implement a plan to reduce it. Then creating a risk schedule which allocates timeframes to your risk actions and implementing a process to monitor and control risks throughout the project. Acceptance Plan: Acceptance plan helps to gain the customers acceptance for the deliverables, quickly and efficiently. In this identifying the acceptance test method is the first step then followed by Allocating acceptance testing resources and finally Scheduling acceptance reviews with the customer will help to gain the customers acceptance. Communication Plans: Communication plan is to communicate the right information , to the right people, at right time. This communications management plan is designed to provide everyone involved in a project a general framework on the development of a more strategic approach and it is to ensure that the stakeholders are always kept properly informed. The communication plan can also include guidelines for project status meetings, project team meetings, e-meetings, and e-mails. The communications management plan can be formal or informal, highly detailed or broadly framed, and based on the need of the project. Project Execution Phase: The Project Execution Phase is usually the longest phase in the project life cycle and it typically consumes the most energy and the most resources. Monitoring and control are the two main aspects in this phase for a project manager. The following are the major aspects in this execution phase: Time Management: In this process the time spent by staff undertaking project tasks is recorded against the project. It is used to calculate the total time spent undertaking each task as well as the total staff cost of undertaking each task in the project and also to identify the percentage of each task completed as well as the amount of outstanding required to complete each task in its entirely. Time management is undertaken through the completion and approval of timesheets. A Timesheet is a document completed by project staff to formally record the time spent undertaking an activity or task. Timesheets are typically completed weekly, by all members of the project. Cost Management: The purpose of the cost management process is to accurately record the actual costs/expenses which accrue during the project life cycle. The cost/expenses are recorded by team members, using Expense forms. These forms are reviewed and approved by the project manager. This process will help to control the overall cost of the project and keep the financial plan up-to-date. Quality Management: Quality management process helps to improve the quality of deliverables produced. (i.e) It typically defined as the ability of the team to produce deliverables which meet the needs of the customer. This Quality management process is otherwise called as Quality Improvement Process or a Quality Assurance Process. It will help to set the quality target to be met by the team and how those quality targets will be measured. Then identify quality issues and quality improvement actions and finally report on the overall level of quality achieved. Change Management: Change management is a core project management function and it is critical to achieving success. This is because change usually it affects the teams ability to deliver the project within the scope. Due to project plan modification, there is some new estimates of work still to be done, changes in scope or functionality of end-product and need for resource changes may be took place in this change management. The Change Request Form (CRF) is used to enable project staff to formally request a change to the project. It allows staff to describe the nature of the change request and the impact on the project if the change is implemented. Change Register is used to monitor the changes and maintained a registry about the changes and this allows the Project Manager to identify any outstanding changes and to measure the actual impact of each change once implemented. Risk Management:
Risk management is a structured approach to managing uncertainty through, risk assessment, developing strategies to manage it, and mitigation of risk using managerial resources.
The strategies include transferring the risk to another party, avoiding the risk, reducing the negative effect of the risk, and accepting some or all of the consequences of a particular risk
The objective of risk management is to reduce different kinds of risk in technology, humans, organizations and politics. A plan should include risk management tasks, responsibilities, activities and budget.
Maintaining live project risk database is one of the important aspect. That is each risk should have the attributes like opening date, title, short description, probability and importance. Optionally a risk may have an assigned person responsible for its resolution and a date by which the risk must be resolved.
Issues are really problems. To solve the problem, we need an issue management system.
Project issue management is about logging issues and tracking issues. To do this we need to have a piece of issue tracking software to record issues and report on a regular basis on the status
The issue management system allows all issues to be viewed in one place. So each issue is clearly defined into the problem, and easy to take actions on it.(i.e) what is being done to fix it.
Although delivering the project on time and within budget is important, it is critical that the deliverables produced, actually meet the needs of the customer.
Acceptance Management ensure that every deliverable produced by the project, fully meets the need of the customer and it also helps to achieve user acceptance testing.
During acceptance testing process, each deliverable is reviewed by the customer and formally accepted as meeting their requirements.
By gaining the customer acceptance to the deliverable produced the total success of the project.
Project Closure Phase:
For closing a project, first ensure that the project closure criteria have been fully satisfied and that there are no outstanding items remaining
The project closure report helps to complete the project closure process formally. By documenting all of the tasks need to complete the project and handover the deliverables to the customer.
In this project closure report the outstanding activities in the project are listed out and the plan for passing deliverables to the customer are take place.
Post Implementation Review:
The post project review is the last step in the project life cycle and it allows to identify the key project achievements and milestones, document the lessons learnt for the future projects and communicate its success to the customer.
It is just like a good football coaches study game tapes to improve their teams performances, Like that the best IT groups review completed projects to make necessary improvements to their organizations in future.