Understanding The 4 Phases Of A Project Life Cycle
Regardless of its size, every company requires a technique to organize the projects it carries out. For this reason, it is essential to understand the life stages of a project to move it smoothly towards its completion and to know what techniques to implement.
In addition, the breakdown of tasks into different phases helps to manage the work better and have complete control over it. However, it is essential to mention that each service or project has its life cycle, but they generally follow the same stages. For this reason, what we will address below will be helpful regardless of the characteristics of your project.
Table of Contents
The origin of the project
Suppose a person has an idea that they feel is worth pursuing, so they build their courage and rally support for their project. He hardly needs money or personnel, so he goes directly to a committee to present it. This group of people evaluates you and, if selected, you can proceed with the work along with a budget allocation and other requirements.
It is then that the four elementary phases of a project begin. Which are?
Phase 1 – Initiation
The first and vital phase of the project life cycle recognizes the processes that must be carried out throughout its development and defines the scope and purpose.
In addition to that, the investigations carried out at this stage are discussed to ensure that they meet the project’s objectives so that it is considered successful. Management skills are also tested, management assesses alternatives to address risks, dependencies, and constraints.
The last step in this stage is to assign a deadline based on available resources. It is recommended to make a mind map at this stage to evaluate all the essential aspects of the project and do better planning (which is the next stage).
Phase 2 – Planning
This is the most vital stage where planning for the execution of the project takes place. Since everyone is different, so is the focus. Although planning continues throughout the project, this phase of the project life cycle is at the core and includes several vital questions.
Project planning includes determining resources, finances, quality, risk, communications, procurement, vendors, and plan review. During this phase, you can think of plans for email and social media marketing and other strategies that may prove valuable.
In addition, it establishes the methodology to be followed to complete the project, all of this established in an executive report.
Phase 3 – Execution
In the execution phase of the life cycle, tasks are assigned, and deliverables are built. These include documents, plans, schedule, budget, and the blueprint for completing the project.
In addition, there is a quality management team that focuses on changes and errors that need to be fixed. This analysis helps to adjust to fit the project’s scope or compensate for deliverables that did not meet the deadline.
Furthermore, these deliverables are presented to the customer before he decides whether to accept them or not. These can be design pieces like an infographic, for example, articles, videos, a website, and even a cake! It will depend on what the project is and what your company is dedicated to.
Generally, the execution phase is the most extended, but the duration cannot be defined as it varies from project to project.
Finally, after determining the corrective actions, it is time to implement them.
Phase 4 – Closing
In this phase, the agreed deliverables are sent to the customer, billing and contracts are finalized, and the resources are released for future use.
The closing will also assess the success of the project and the management skills that took place.
However, the project manager’s job is not finished yet, even if the project is completed. You need to evaluate the entire project: what worked and what didn’t and to what extent. This person is responsible for looking for the scope of improvement and identifying success.
Summarizing
Understanding the phases of a project will help you and any small or medium business owner to carry it out successfully from start to finish.
However, if the phases are not implemented correctly, it is advisable to seek external help through project management software or experts in the field despite having understood their importance.
Remember that everything you propose in your company or with your brand is achievable. It is enough to know how to organize and have clear objectives and goals, especially what will be the way to achieve them.
