Project Management Guide

Business is a term which is related to the is related with the production if good and selling of good to earn the profit. Project Life Cycle from the business view is related with the Production of the Product to the selling of the product.

Project Life Cycle is a sequence of Activities which are bind together to achieve the goal or target. It is also a responsibility of the project Manager to arrange the resources which are required for the completion of the Project. The whole requirement of the Project is to produce in the first phase of the specific product. At the end stage of the project it issue quality, delivery and completeness. Project Life Cycle in Consist of four of phases which are helpful for the completion of project and give the specific output. In the Project Life Cycle each Phase has their specific goal.

Project Life Cycle consists of following phases which are defined as follows:

Initiation: In the first phase, called initial or initiation stage, in this phase project are defined. As for the successful of the Project, project Manager & project team has a great role. So according to the requirement of the Project well experienced person who has a complete knowledge about the handling of the project is appointed as a Project Manager. So, it is the duty of the Project Manager to select the Project Team Members according to the requirement of the project. The Scope of the Project is also defined in this phase and also defines the complete approach to get the required output.

Planning: In the Second Phase of a Project Life Cycle all the planning is done which is required for the Project achieve the target goal. In this planning phase all the task are assigned to particular team member according to his calibre. As the Planning of the work is done before it’s starting, so all the process running smoothly and complete at a fix time.

Execution: In the first two phases project has been defined and all the planning related to the Project is done for getting a specific output. In the third Phase of a Project Life Cycle, the entire tasks are being executed according to the given input. Controlling of whole the process is also done in this phase.

Closure: In the last Phase of Life Cycle, Project reach at their end point or we can say that Project will move towards its completion stage. In this phase after the completion of the Project a report is written in form of documentation about the Project. It involves releasing the final deliverables to the customer, handing over the documentation to operations team, closure of supplier contracts, release of resources etc.