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Project Managers: Product Life Cycle

According to the Pmi's guide to your body of knowledge

Because assignments are unique and involve a certain amount of risk, companies accomplishing project will generally sub-divide their jobs into several project phases to provide better management control. Collectively these project phases are called the job life-cycle

According to PMI Body of Knowledge Third edition

Job professionals or the company can divide tasks into phases to provide better management control with appropriate links to the ongoing businesses of the doing organisation. Collectively, these stages are known as the task life. Many organisations identify a specific group of life cycles for use on all their projects

Patel and Morris have mentioned that

The life span cycle is the only thing that exclusively distinguishes assignments from non-projects.

Therefore from these various meanings a project lifecycle could be described as; the various described stages that a project undergoes in order to get completed from the initial conception. However not absolutely all of the task life cycles are the same, they will change from one sector of industry and business to some other. For example you might have a project over a construction site building a new building, and in an organization a new IT job could be being planned and implemented. The reason behind a project lifecycle is usually that the task can be broken down into different stages which will give a structure and a way of delivering the mandatory outputs for the job.

As you can see there are four stages in the project lifecycle, they are

  • Phase theory and initiation Phase
  • Design and development Phase
  • Implementation Phase
  • Commissioning and handover Phase

Concept and initiation phase

Regarding to Burke the first stage starts the job by establishing a need or opportunity for the product, center or service. (Burke, 2007) meaning that the project is born and given an identification and the purpose of it is established. A feasability analysis will be carried out here, which will be talked about later in the record.

Design and development (Planning) phase

Once proposals of the project have been accepted, detailed plans and technical specs for the task will be used. Also the base-line plan will be devised here. See appendix1. This period helps associates establish their assignments and tasks and what is expected of them, according to the task.

Implementation or Development Phase

Once again regarding to Burke on approval of the baseline plan, the 3rd phase allocates a budget to implement the projects baseline plan service or solve the trouble (Burke, 2007). This period gets all the team members to perform the baseline paln that was devised in the last stages. However if problems happen and are kept unnoticed for whatever reason, it can have major results on the task in terms of costand time.

Commissioning and Handover Phase

The fourth and last stage is the commissioning and handover. This is what it claims, the project is done and you side it to the client, if they're satisfied. A range of techniques will be utilized to validate the project contrary to the baseline plan.

PRINCE 2 and Universal Product Lifecycle

In business companies use different ways (methodologies) to control projects. A good example of one of these is an application called PRINCE2 (Assignments IN Controlled Conditions). That is a government program. It is predicated on the generic task lifecycle detailed in brief recently. The situation with the generic is that it is merely too basic. You can find no defined systems set up or notice of what documentation is required to complete various tasks. Whereas when you use a methodology as PRINCE 2, it is possible to see what documents that must be stated in order to complete phases. This may be discussed within the next portion of the article.

PRINCE2 is a process-based procedure for task management, providing an easily designed and scalable job management methodology for the management of most types of jobs. The method is the de-facto standard for job management in the united kingdom and is used worldwide.

Concept and initiation phase

This starts by assessing the need or the opportunity for the merchandise or service. With this stage a doc called a Project charter (see appendix 2) is drawn up. The task is given an individuality which usually involves a name and number for easy research. Also in this report the scope, aims of the project are also identified. To be able to initiate the task roles and project budget need to be defined. On this stage all ideas are looked at and tested, the reason behind this is so a knowledge of risks and opportunities of undertaking the selected project. There are many different tools within Prince 2 that allow you to draft a project charter (see appendix 3).

Design and development (Planning) phase

This is the phase occurring when the project idea has been approved and accepted. A budget is allocated in order to produce comprehensive designs and specification for the project. At this time of the task, the requirements of the business are established, the cost and times of deliverance are also reviewed and finalised. This stage includes documents like the project range management plan, this has various varieties such as; range definition, which defines the range of the job. It will contain a explanation of the WBS (work breakdown structure); it'll say how changes in the scope will be handled. At this stage the project administrator may also count on competence of professionals within the certain submitted. The budget will be reviewed and finalised at this point ready for the next thing of the project. All these varieties are available in some type of style in Prince2.

Implementation or Construction Phase

On acceptance of the baseline plan, another budget will be allocated for the implementation of the mandatory baseline plan. This portion of the job lifecycle gets the highest rate of work set alongside the other stages, additionally it is the phase that requires the most amount of the budget. The reasons for this will be the resources are ordered and supervised; the structure of the task is maintained by the task manager. Much like all projects, large or small, they'll encounter problems, which effects enough time and costing of the task. Other factors as of this period could be things such as better information in conditions of getting the task completed previously. Also in this phase change control procedures should be implemented. This file will explain what procedure must be in place if any changes of the baseline plan are released. On the general you aren't in a position to do any of these because you aren't made alert to them, that's an edge that Prince 2 methodology has over this.

Commissioning and Handover Phase

The commissioning and handover stage is the final level of the lifecycle. This confirms the aims of the have been executed. In order for this to be proved, they use a number of inspection and tests techniques. With these techniques it'll concur that it complies with what was called for. If you were setting up new IT software for a corporation, then the likelihood of having to teach the clients in the utilization of it could come at this stage. Once the client has accepted the grade of the project and it is happy, the project then ends. The client will then document a detailed out article.

For best results a set up article format is recommended-consider the following steps:

  • A detailed questionnaire (to be able to quantify what actually took place on the project)
  • Analyse reactions and debrief the main element managers
  • Compile draft closeout article for comments. This is used as plans for a formal closeout meeting
  • Hold a formal closeout meeting
  • Compile a final closeout article, circulate and record in the job office collection.

From your reading in the closeout record, the project manager can look for suggestions for future jobs. The reasons for this are you study from things that proceeded to go well and things that proceeded to go bad. Things that went bad, you'd to create solutions in order to complete the project.

Another benefit of Prince 2 as in relation to the generic and perhaps other methodologies is that once one person has logged onto a particular job, then no-one else can. Which means that changes to the task can only be done by one person, so any problems it can be traced to the average person. Also when the project is saved in Prince 2 it'll be archived for future guide, so if the task got any problems or even successes then they is there for reference. In addition, it can become a profile for future tasks. That's why companies use methodologies such as Prince 2, however there are extensive out there, it all depends on what the job is, and what it needs.

In a very project there are many different sets off that can and will change the baseline job projects. Changes to the baseline are simpler to predict then changes to the scope. Changes to the baseline strategies, can include things such as relating to Verma client-driven, regulatory-driven, externally motivated and internally powered (with a number of sub-divisions) (Verma, 1997)

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