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Assignment: CA1 Subject Code: Project Management

The project life cycle consists of four major phases: initiation, planning, execution, and termination. The initiation phase defines and authorizes the project through a project charter. The planning phase develops detailed strategies for project performance and success. The execution phase implements the plans through monitoring and controlling. Finally, the termination phase closes out the project by releasing deliverables, documenting lessons learned, and communicating closure to stakeholders.

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86 views2 pages

Assignment: CA1 Subject Code: Project Management

The project life cycle consists of four major phases: initiation, planning, execution, and termination. The initiation phase defines and authorizes the project through a project charter. The planning phase develops detailed strategies for project performance and success. The execution phase implements the plans through monitoring and controlling. Finally, the termination phase closes out the project by releasing deliverables, documenting lessons learned, and communicating closure to stakeholders.

Uploaded by

Sumit
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Assignment: CA1

Subject Code: Project Management


What is a project life cycle? List the major processes of project life
cycle along with the salient features of each process.
A project life cycle is the sequence of phases that a project goes through from its initiation to its
closure. The number and sequence of the cycle are determined by the management and various other
factors like needs of the organization involved in the project, the nature of the project, and its area of
application. The phases have a definite start, end, and control point and are constrained by time. The
project lifecycle can be defined and modified as per the needs and aspects of the organization.

Major processes of project life cycle:


 The Initiation Phase: The initiation phase aims to define and authorize the project. The project
manager takes the given information and creates a Project Charter. The Project Charter
authorizes the project and documents the primary requirements for the project. It includes
information such as:
o Project’s purpose, vision, and mission
o Measurable objectives and success criteria
o Elaborated project description, conditions, and risks
o Name and authority of the project sponsor
o Concerned stakeholders

 The Planning Phase: The purpose of this phase is to lay down a detailed strategy of how the
project has to be performed and how to make it a success.
Project Planning consists of two parts:
o Strategic Planning
o Implementation Planning

 The Execution Phase: In this phase, the decisions and activities defined during the planning
phase are implemented. During this phase, the project manager has to supervise the project and
prevent any errors from taking place. This process is also termed as monitoring and controlling.
After satisfaction from the customer, sponsor, and stakeholder’s end, he takes the process to the
next step.

 The Termination Phase: During the final Termination or completion phase, the emphasis is on
releasing the final deliverables to the customer, handing over project documentation to the
business, terminating supplier contracts, releasing project resources, and communicating the
closure of the project to all stakeholders. The last remaining step is to conduct lessons-learned
studies to examine what went well and what didn’t. Through this type of analysis, the wisdom of
experience is transferred back to the project organization, which will help future project teams.

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