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MANAGING THE PROJECT LIFE CYCLE

Critical Evaluation of Present Project Management Practices for the management of

Project Life Cycle at Initiation, Planning, Execution and Closure Stages for Successful
Project Outcomes

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TABLE OF CONTENTS

ABSTRACT....................................................................................................................................2

MANAGEMENT OF THE PROJECT LIFE CYCLE....................................................................3

INTRODUCTION...........................................................................................................................3

CRITICAL EVALUATION............................................................................................................3

Initiation.......................................................................................................................................3

Planning.......................................................................................................................................4

Execution.....................................................................................................................................6

Analyzing Project Execution.......................................................................................................8

Analyzing Group Execution.........................................................................................................9

Documenting Project Conclusion................................................................................................9

Conducting Post-Execution Audits..............................................................................................9

CONCLUSION................................................................................................................................9

REFERENCES..............................................................................................................................10
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ABSTRACT

This study is based on the critical analysis of the different techniques used in the project
lifecycle management. Different projects intakes different stages in their project lifecycle
managing. This study intake four phases of the project lifecycle management which includes
initiation, planning, execution, and closing. There are different techniques used for the different
phases of the project lifecycle management. The study includes critical analysis of implications
of project managers which they use in their project lifecycle management. There are different
techniques which are used in different stages of the project lifecycle management among which
project managers used in managing their project, among which some the techniques are
discussed in this study.
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MANAGING THE PROJECT LIFE CYCLE

INTRODUCTION

Project management is an activity of the organizations which comes under the project
management. It is about managing the lifecycle of the project rather than project. Management of
the product life cycle is significant for the organization, manager of the project, and the project
group. They work for a shared goal to fulfill the requirements of the project. Every project posse
different scale and scope on the basis of which its management also differs from each other (Hu,
W., 2008).

Project management intakes lots of efforts due to its ever-changing demands due to
which the chances of getting things wrong are highly possible. Project management is very
crucial whether you are working on a large business goal, initiative for different departments
which intakes implications of corporate level or small projects. An effective project lifecycle
management undertakes different departments, employees, disciplines, data, and information,
and their activities for completing a project within time and within the allocated budget as well
(Bennett, F.L., 2007).

The most effective way of managing the lifecycle of the project is to divide project life
cycle into four different stages which makes its management very easy. it helps in taking out
decisions related to business project, giving proposals, setting prices, doing governance of the
project, and doing closure. The most usual and important stages of project management lifecycle
includes the plan initiation, it’s planning, project controlling, and its closing. (Shen, G.Q., 2020
and Wuni, I.Y.).

CRITICAL EVALUATION

The critical evaluation on the basis of the literature upon the different stages of project
lifecycle management is as follows:

Initiation

The first and foremost step of project management is to identify a business requirement,
business concern, opportunity, and conceptualized approach to discuss the issue, tackle it, or get
the benefit from this. Throughout this progression, a target should be sorted out for the relative
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project; a decision should be taken for its credibility, as well as acknowledge the important
expectations for the specific project.

In the first stages of initiation of the project, the work objective and the requirement of
the task are distinguished; it can be a business concern or a possibility on the basis of which
arrangements are made. When the proposed and planned arrangements are approved, the process
of conveying the proposed arrangement starts, and the task is assigned to the project manager.
The following step includes the important expectations and the experimental group work started.
Approval of the project is then preceded by the project manager by strategizing the steps for
practical. (Prescott, J.E., 1988 and Pinto, J.K.).

There are different techniques used for the initiation of the project life cycle management.
Most of the techniques for the undertaking initiation stage might incorporate the accompanying
(Eadie, R., et al., 2013):

· Carrying out feasibility report

The technique intakes the recognition of the fundamental issue of the project and will address it
regardless of the fact that the task will convey the solution for that concern.

· Discussing scope

Characterize the perception and wideness of the project.

· Identifications of deliverables

Characterize the item or administration to give.

· Identification of stakeholder

Sort out that target audience and their requirements.

· Promote the business

Utilize the already described models to find out the expenses and the benefits for the project that
can help it to expand.

· Promote the claim of work

Record the project's objectives, expansion, purposes, scope, and expectations that were already
identified by the organization and company as a fundamental arrangement between two parties;
the project manager and the target audience.
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Planning

After the approval of the project, the second step in project management is planning. In
this process, the proposed arrangements and plannings are shaped into the moderate form;
assemble the team, and a schedule to complete the task on time. Make better objectives for the
great task, guaranteeing that each is reachable within the time span. The better objectives have
the better possibility of progress. In the planning stage, the important estimations of project
progress and its outcomes are done to ensure the achievement of underlying goals. At this stage,
the main aim of the project group is to acknowledge the task accomplishment. The project’s
undertakings and asset prerequisites are identified, along with the acknowledgment of the system
for delivering them. A plan for the project is designed laying out the exercises, errands,
circumstances, and time spans. The arrangement of planning is done by the manager as he will
be responsible for the financial plan, the work progress as well as the cost of materials. Financial
plans help to overlook the expenses and their control during the execution of the plan.
(Chapman, C.B., 1995 and Ward, S.C.). When all the necessary work including the
distinguishing of work, schedule of work, and expected expenses assessment are done. The
planning is completed with the accomplishment of three basic things. Then there is a great
chance to distinguish any risk and obstacle in the way of progress, which is represented as “Risk
Management”. During this process of risk management, “high-danger” ratio obstacles are
identified as well as the techniques and methods are recognized to decrease or eliminate the
possibility of any issue that can have an impact on the event.

It’s a great opportunity to finding all the partners and creating a plan to describe the
requirements and communicating to keep them acknowledged about the objectives and the
progress. At the end of this stage, the respective program manager will have to gain a good
quality arrangement, giving a better quality audience, confirmation, and control measures. The
other requirement for the client acknowledgment is to provide the acknowledgment plan. After
all these steps, the execution can be started. (Maytorena-Sanchez, E., 2019).

There are different techniques used in the planning of the project lifecycle management
among which some of the techniques for undertaking the planning stage might incorporate the
accompanying (Labuschagne, C 2005):

· Designing a project plan

This technique distinguishes the course of events which includes the duration of the task, the
assignments, and imperatives.

· Creating workflow graphs

This technique envisions the frequency that utilizes the swim lanes to assure the performance of
colleagues.

· Making an estimation budget

This step utilizes estimation of costs to find out the cost and profit from the project.
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· Gather resources

This step assembles the functional group from both sides of ability pools to ensure the great role
of each and everyone to perform their task within the project team.

· Anticipation of risks and likely barriers

This step recognizes the hurdle that can affect the project progression during the phase of
deal8ing with dangers to ensure the quality of the project as well as to complete it within time.

Execution

After receiving business approval, the third step is to design a plan and make a team.
Because the execution of plan is about to start. The stage of execution means converting your
plan into practice. The responsibility of the project manager is to keep check of work, its
progress, built a team, meets deadlines, and acknowledged that the work is going with the
expected progress. It is the stage of making a plan into reality. (Hu, W., 2008)

The further lead of the project manager is to keep a check on the accuracy of work and
the progress of the project. Moreover, the respective manager is the one to keep connected with
the project partners. This helps in ensuring the reliability of work and the agreement of both
parties in the progress of the project. To help out the project manager, a program coordinator is
available. His responsibility is to have a great impact on the value of the project. (Wilemon,
D.L., 1975)

In the execution phase. The planning is modified into action and the designed work is
performed practically. During this phase, communication and maintenance of control are
necessary. The progression is checked continuously to find if any modifications are needed and
the changes are recorded. The project manager has a major role in the execution of the project.
To report the progression in the project, meetings are held. This approach is used by the project
manager to maintain control and also witness the direction of the project according to the plan. If
any modifications are done, the comparison of the original plan and the implementation of it is
discussed.

The main focus in this regard is to take the project to its original form even after the
required modifications. If the returning is not possible, a record of modifications is made. During
all this process the sponsors of the project and the actual owners remain part of these
modifications according to the agreement. The project plan gets an update and recorded on daily
basis. All the reports should have the detailed status of expenses, timetable, and the quality of
performance. Every project quality should be reviewed. When all the necessary papers are
produced and the client agrees on the solution, the project can be closed. (Brent, A.C., 2005)

For the execution of the project following steps are include:

· Creating and designing the workflow

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The work should be assigned in a proper way to achieve the outcome as well as to keep check of
the workload on workers.

· Describing task to members

Briefly explain the work to all the members of the group, giving them ideas to complete the task
and designing a training session if required.

· Staying in contact with members, clients, and management

Communicate with stakeholders to give them updates on the project.

· Checking the quality of work

Make sure that everyone is doing tasks on time and with good quality

· Keeping an eye on the budget

To not exceed the expenses keep check of costs and resources.

Closing

The last phase of the management lifecycle is the closing of the project. This phase
elaborated the accomplishment of the project work. Completing the project task and agreements
is the responsibility of the project manager. Most of the working teams conduct a meeting before
closing the task and completing the project to coin on their accomplishments and look at the
disappointments if there are any. This technique is of great importance to enhance the credibility
and learning of the team members for further projects.

The last step of this phase is to inspect and look over the whole task and gives out a
definite report that covers each viewpoint. The important information from everyone is put away
in a protected spot that can be gotten to by the project manager of the respective association.
When the team has completed the work on an undertaking, the project enters the closing stage. In
the closing stage, it gives last expectations, discharge project assets, and finalize the
accomplishment of the project undertaking. Since the significant task work is completed, that
doesn't mean the undertaking project manager task is finished—there are as yet important
activities, which includes the assessment of what did and didn't work with the project (Brent,
A.C. and Claasen, S.J., 2005).

The final step of this phase is to describe the whole task and make a report to cover all
the aspects of project work. The important pieces of information should be put out in the
document. And when the work is completed, the project enters into the phase of closing. It
determines the final expectations and the accomplishments. With the closing of the project, the
responsibility of the project manager is not finished as he has to be available for various
activities related to the project that includes the project information of the achievements and the
failures within the project.
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During this phase, the very last expectations are given to their clients, documentation is
provided, contracts are ended, and the conclusion of the project is given to the partners and
sponsors. The final phase also describes the outcomes of the plan. (Prescott, J.E., 1988).

Different techniques are used for the closing phase of the project to ensure accomplishment.
(Brent, A.C., 2004)

Analysis of Execution Phase:

Determine the achievement of the aims and objectives of the project and to ensure the
modification for any concern if required.

Analysis of Group achievements:

To determine the performance of colleagues which includes the nature of their work and the aims
and objectives related to the project.

Providing the conclusion via documentation

Reports are given to the project partners after making sure of the completion of the project and
its accomplishments.

Organizing Post-Execution Audits

To evaluate the final results of the project and learn about the new things from the project, a
final investigation is performed.
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CONCLUSION

Project lifecycle management is very important for the project managers, their teams, and
for the whole organization. Proper management and undertaking of the lifecycle of the project is
very important for its accomplishment and gaining useful benefits from them. Project lifecycle
management requires adequate number of efforts for accomplishment of the intended project.
Project lifecycle management undertakes different stages from where project goes through. Most
of the project managers divide their projects into different stages in which most of the stages are
initiation, planning, execution, and closing. Every of the step possess different techniques and
measures for carrying out them successfully. Project managers employed different techniques
which assist in completing the following phase of the project lifecycle. Managing all the phases
of the project lifecycle management often guarantees the success of the project due to which
project managers along with their project teams relies heavily upon the completion of several
phases of the project lifecycle management for ensuring the success of the project in the end.
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REFERENCES

Pinto, J.K. and Prescott, J.E., 1988. Variations in critical success factors over the stages in the
project life cycle. Journal of management, 14(1), pp.5-18.

Wuni, I.Y. and Shen, G.Q., 2020. Critical success factors for management of the early stages of
prefabricated prefinished volumetric construction project life cycle. Engineering, Construction
and Architectural Management.

Eadie, R., Browne, M., Odeyinka, H., McKeown, C. and McNiff, S., 2013. BIM implementation
throughout the UK construction project lifecycle: An analysis. Automation in construction, 36,
pp.145-151.

Ward, S.C., and Chapman, C.B., 1995. Risk-management perspective on the project
lifecycle. International Journal of Project Management, 13(3), pp.145-149.

Cha, J. and Maytorena-Sanchez, E., 2019. Prioritising project management competences across
the software project life cycle. International Journal of Managing Projects in Business.

Labuschagne, C. and Brent, A.C., 2005. Sustainable project life cycle management: the need to
integrate life cycles in the manufacturing sector. International Journal of Project
Management, 23(2), pp.159-168.

Thamhain, H.J. and Wilemon, D.L., 1975. Conflict management in project life cycles. Sloan
Management Review (pre-1986), 16(3), p.31.

Schuman, C.A., and Brent, A.C., 2005. Asset life cycle management: towards improving
physical asset performance in the process industry. International Journal of Operations &
Production Management.

Labuschagne, C. and Brent, A.C., 2005. Sustainable project life cycle management: the need to
integrate life cycles in the manufacturing sector. International Journal of Project
Management, 23(2), pp.159-168.
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Labuschagne, C., Brent, A.C. and Claasen, S.J., 2005. Environmental and social impact
considerations for sustainable project life cycle management in the process industry. Corporate
Social Responsibility and Environmental Management, 12(1), pp.38-54.

Pinto, J.K. and Prescott, J.E., 1988. Variations in critical success factors over the stages in the
project life cycle. Journal of management, 14(1), pp.5-18.

Labuschagne, C. and Brent, A.C., 2004. Sustainable Project Life Cycle Management: Aligning
project management methodologies with the principles of sustainable development.

Hu, W., 2008, November. Information lifecycle modeling framework for construction project
lifecycle management. In 2008 International Seminar on Future Information Technology and
Management Engineering (pp. 372-375). IEEE.

Bennett, F.L., 2007. The management of construction: A project lifecycle approach. Routledge.

Hu, W., 2008, November. Information lifecycle modeling framework for construction project
lifecycle management. In 2008 International Seminar on Future Information Technology and
Management Engineering (pp. 372-375). IEEE.