The Project Management Lifecycle

While there may be different projects in different areas, or even projects within the same field altogether, their life cycles and work content are very different. However, their project life cycles share some common characteristics.

1. The project stages are usually concluded and connected in a sequence. Each stage is determined by the handover intermediate results, such as technical information, documents, and related management documents.

2. Although the initial demand for personnel and cost is low, as the project develops, it will increase in cost and manpower, and eventually reach a peak.

3. The probability of a successful project completion is low at the beginning of a project. This means that there is a high degree of risk and uncertainty. The possibility of success is increasing with the gradual development of this project.

4. The project stakeholders have the greatest influence over the final features and costs of the products at the beginning of the project. This influence will gradually diminish as the project progresses. This is because as the project progresses, the difficulty and cost for changes will increase.

The division of project phases can vary depending on the industry and project, but the main phases are definition, development and implementation. The project definition phase and the phase of development are responsible for the creation of the project plan, also known as the project feasibility stage. The project implementation stage, also known as the project acquisition phase, is the main work.

The most common life cycle models for information system projects are the waterfall model, V-model, prototyping model and spiral model.

Project Management Process
The project management process can be divided into initiation, planning and execution, monitoring, closing, and closure.

The Initiating Group’s primary task is to approve and identify projects and project phases. These results include the creation of a project charter, and the selection of project managers.

The Planning Process Group’s main task is to define and refine objectives, plan the course of action to achieve them, and ensure that the project’s objectives are met. The main work results include completion of the project task breakdown structure and the project schedule.

The executive process group’s main task is to coordinate human resources and other resources in order to implement the project plan in an efficient and integrated manner. The main outcome of the project work is to deliver it.

The Closing Process Group’s main task is to accept project results, product, and project stages. This will ensure that the project or stages are completed on time. The main tasks include the formal acceptance and preparation of the audit report and project summary reports, as well as the placement of project team members.