Project Management Life Cycle
Overview
The Project Management Life Cycle is a tool that allows managers and top executives to improve their project management skills. It includes four phases starting with
Initiation: When proposals are made based on a problem or issue that has created an impact on the business.
Planning: Where a Project Manager is assigned to handle the project, and at this phase, some revisions to the initial proposal may be necessary.
Execution: Phase where implementation of the details in the proposal will take place.
Closeout: Where the project results will be assessed and properly documented.
These four phases are correlated to each other, and would not be able to function well without completing the phase prior to it.
The Life Cycle describes how a project should be managed. As such, it would require models to allow the project manager and the team to conveniently mirror how a particular task should be done. Different models were created to cater to different kinds of projects, and this is to ensure that your project would be employing a model that fits it well.
Training Objective
By the end of this self-paced training, you will be able to:
Understand the concept behind project management life cycle
Different phases of project management life cycle
Different life cycle models
With this training course, one can gain invaluable information about project management process, methods structure and variables, manage risk, project management related software, Gantt chart and to close a project properly.
Target Audience
This resource is basically for project managers who are passionate to excel in their career by keeping abreast with up-to-date project management related information. Career-oriented individuals will greatly benefit from this Project Management Life Cycle training course in both personal as well as professional spheres.
Related Trainings
Process Management
Project Management
Project Management Process
Project Risk Management
Resource
Download Project Management Life Cycle Models Comparative Chart (pdf)
The Project Management Life Cycle is comprised of 13 models which include: Waterfall Model, Spiral Model, Evolutionary Prototyping Model, Evolutionary Delivery Model, Throwaway Prototyping Model, Staged Delivery Model, Design to Tools Model, Design to Schedule Model, Code and Fix Model, Incremental/Iterative Development, Reusable Software Model, Automated Software Synthesis and Off-the-Shelf Model. All of these models are fundamental to the success of every project. In the last 30 years, the life cycle has evolved from simple basic models to more complex and detailed models that have been designed to cater to specific needs of projects. Importance of the Project Management Life…
The Waterfall Model was first introduced as a Life Cycle model for projects in industries such as construction and manufacturing. Its basic concept revolves around the steady and sequential downward flow of each cycle phase, as depicted by Winston Royce, almost 4 decades ago. This model is referred to as the Pure Waterfall Model, and today there is a new version which is known as the Modified Waterfall Model. The Pure Waterfall Model This is the old and more commonly used model. It was what Royce introduced in the 1970s. The classic Waterfall Model was shown to have created plenty…
In project management, there has to be a system that should be modeled on to prevent loss of control and directive for a particular project. Without such, there is the possibility that a project will not turn out as well as planned. The Spiral Model, which is targeted towards big projects, functions by micro-management. It divides these projects into smaller clusters thus making it easier for the team to reduce risks and problems that may occur. The Spiral Model evolves like a spiral; it begins at the core of the project and traverses towards each phase, rapidly evolving and creating…
It is a company’s goal to stay ahead of its competitors. As such, there has to be some processes that will provide customized service to customers in which flexibility and reliability are given focus. In this regard, the experimental concept of the Evolutionary Prototyping Model has become indispensable. With this model, processes are made, and throughout the entire course of the project, customers are constantly asked to give feedback for each created prototypes. This is to ensure functionality based on the requirements that customers are looking for in a product or service. As soon as the project is nearing completion,…
For projects that require visible progress, the Evolutionary Delivery Model is a good choice. It is similar to Evolutionary Prototyping and in some ways have the same concepts used in Staged Delivery. In a way, the Evolutionary Delivery Model incorporates the strong points of each model: progressive development derived from the former, and flexibility modeled from the latter. Phases of Evolutionary Delivery Model Evolutionary Delivery Model comprises 5 phases otherwise referred to as the Evolutionary Delivery Cycle. Gathering of Requirements Gathering of requirements is the first phase and would include the creation of a concept in which everything else in…
Throwaway Prototyping Model is especially useful when the project needs are vaguely and poorly laid out. It functions by providing proof that something can indeed be done in terms of systems and strategies. Throwaway Prototyping Model is used for certain projects and will eventually be discarded after the project has been completed. It is also known as Close-Ended Prototyping. Throwaway Prototyping Model is implemented through the creation of prototypes and thereafter gathering feedback from end users to check if they find it good or not. This is valuable to get a better understanding of the actual needs of customers before…
We have already discussed several lifecycle models for you to choose from, however, if you are looking for a particular model that is able to provide a “ready” product at every stage or phase then, you should consider the Staged Delivery Model. The project team can stop the development of any task at any given time, and the product would still be functional to customers. Staged Delivery model allows for products to become deliverable at every stage. It prioritizes requirements set by project managers and these are clearly addressed as you go along each stage. Additionally, with the Staged Delivery…
Design to Schedule Model is said to be the most efficient model in terms of timing and scheduling. It is believed that this model utilizes the same process as that of the Staged Delivery model in a sense that there is a “deliverable” at every stage; however, it does not hold the same predictability as the former and at times, a product’s full potential may not be developed. All the same, the Design to Schedule model can ensure that the product is going to be ready at any time necessary. Design to Schedule Phases As mentioned earlier, the Design to…
