Business Analyst_1
Business Analyst_1
Business Analyst_1
What is a process?
Project Life cycle can broadly divided into three phases which are
Pre-Project Phase
Project Phase
Post Project phase
All the stages of project life cycle comes under these phases.
Project Initiation
Project Planning
Project Execution
Project Monitoring and Control
Project Closure
It is basically defining the project’s purpose, scope, and objectives. This phase
often includes feasibility studies and Business case documents.
Business case document is a formal proposal that outlines the justification
for a project and it includes an estimate of potential financial benefit. It is
done by BA.
A feasibility study is an analysis conducted to determine the viability of a
project, to see whether committing to the project is worthwhile in terms of
timeline,
cost and resources involved. This is to be done by Project manager.
Project Execution: This is Project phase. Actual activity of the project takes
place in this phase. A well executable project depends upon the strategical plan
developed in project planning. Total requirement gathering will takes place,
development of those requirements, testing of the requirements and Quality assured
Delivery will be done here.
Project monitoring and control: This is also a Project phase. It is often combined
with project execution because they happen at the same time. Monitoring and Control
involves in monitoring their own progress once the project plan comes in motion.
This helps in addressing the problem that might arise during the progress and
resolve it as soon as possible.
It also helps to track any deviation from the plan in terms of cost and time frame
calculating Key Performance Indicator. It is crucial to make sure that the project
moves smoothly.