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Project life cycle

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PROJECT’S LIFE CYCLE
PRESENTED BY:-
ABHISHEK RAJ
MBA (AGRI-BUSINESS), SHUATS
PRESENTED TO:-
DR. MUKESH KUMAR MAURYA
(Asst. Professor, SHUATS)
CONCEPTION / IDENTIFICATION
• What is a project?
• A project is defined as a “temporary endeavor with a
beginning and an end and it must be used to create a
unique product, service or result”.
• All projects vary in complexity but they all follow
similar life cycles
• All projects have deliverables (meaning they always
produce something)
• Project examples:
• − New product development
• − Building renovation
• − Wedding
• − Dinner party
What is a project life cycle?
• Project life cycle is a series of phases of a
project from initiation to completion.
• The life cycle gives a practical approach to
problem solving applied to all aspects of a
project.
• Phases in a project life cycle encompasses
sequential and overlapping phases.
• A project life cycle typically has 4 major
phases: − Initiation Phase − Planning Phase −
Implementation/ Execution Phase − Closure
Phase
Project life cycle
Project Conception
• the first step in the process of specifying the actual scope of a
project.
 Stages of Project Conception
• Following activities are involved in the conceptual stage
• Specification of an opportunity or requirement that governs the
interests of the company.
• Development of a group of preliminary alternatives that have the
capacity to accomplish the initial requirement
• Choosing of alternative(s) that can fulfill the requirements in
terms & conditions favorable to the company.
PLANNING OR FORMULATION
“In this process group ,an appropriate level of details is planned
for the project. It’s done to plan time, cost and resources. It helps
you to estimate the work needed and manage risk effectively
during the execution of a project”.
 STEPS FOR THE PROJECT PLANNING PHASE :-
 Creating a project plan :-
Identify the project timeline, project phases, the tasks, and possible
constraints.
 Creating workflow diagrams :-
Visualize your processes using swiml anes to make sure team
members clearly understand their role in a project.

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Project life cycle

  • 1. PROJECT’S LIFE CYCLE PRESENTED BY:- ABHISHEK RAJ MBA (AGRI-BUSINESS), SHUATS PRESENTED TO:- DR. MUKESH KUMAR MAURYA (Asst. Professor, SHUATS)
  • 2. CONCEPTION / IDENTIFICATION • What is a project? • A project is defined as a “temporary endeavor with a beginning and an end and it must be used to create a unique product, service or result”. • All projects vary in complexity but they all follow similar life cycles • All projects have deliverables (meaning they always produce something) • Project examples: • − New product development • − Building renovation • − Wedding • − Dinner party
  • 3. What is a project life cycle? • Project life cycle is a series of phases of a project from initiation to completion. • The life cycle gives a practical approach to problem solving applied to all aspects of a project. • Phases in a project life cycle encompasses sequential and overlapping phases. • A project life cycle typically has 4 major phases: − Initiation Phase − Planning Phase − Implementation/ Execution Phase − Closure Phase
  • 5. Project Conception • the first step in the process of specifying the actual scope of a project.  Stages of Project Conception • Following activities are involved in the conceptual stage • Specification of an opportunity or requirement that governs the interests of the company. • Development of a group of preliminary alternatives that have the capacity to accomplish the initial requirement • Choosing of alternative(s) that can fulfill the requirements in terms & conditions favorable to the company.
  • 6. PLANNING OR FORMULATION “In this process group ,an appropriate level of details is planned for the project. It’s done to plan time, cost and resources. It helps you to estimate the work needed and manage risk effectively during the execution of a project”.  STEPS FOR THE PROJECT PLANNING PHASE :-  Creating a project plan :- Identify the project timeline, project phases, the tasks, and possible constraints.  Creating workflow diagrams :- Visualize your processes using swiml anes to make sure team members clearly understand their role in a project.
  • 7.  Estimating budget and creating a financial plan :- Use cost estimates to determine how much to spend on the project to get the maximum return on investment.  Gathering resources :- Build your functional team from internal and external talent pools while making sure everyone has the necessary tools like software, hardware, etc. to complete their tasks.  Anticipating risks and potential quality roadblocks :- Identify issues that may cause your project to shall while planning to mitigate those risks and maintain the project’s quality and timeline.  Holding a project kickoff meeting :- Bring your team on board and outline the projects so they can quickly get to work.
  • 8. APPRAISAL/ANALYSIS This helps to know, how much the company has invested on the project and in return how much it is gaining from it. Reviewing project Evaluating its content Problem analysis Generating solution Selecting feasible option Focus on expected outcomes
  • 9. KEY STEPS IN PROJECT APPRAISAL • STEP 1 :- CONCEPT ANALYSIS This steps require conduct of range of analyses in order to determine the concept of the future project and provide the Decision Package for the senior management for approval. It means you need to carry out the problem-solution analysis that determines the problem/need to be addressed and the solution to be used to handle the problem. The solution should analyzed by cost-effective and feasible methods. • STEP 2 :- CONCEPT BRIEF This step includes development of summary of the project concept to define the goals, objectives, vision, mission, broad scope, time duration and projected costs.
  • 10. STEP 3 : PROJECT ORGANIZATION • You use the Concept Brief to determine an organizational structure of your project. • This structure should be developed and explained in the Project Organizational Chart. • The document covers such issues as governance structure ,team requirements and composition, • implementation approach, performance measures, other info. • The idea behind the Project Organizational Chart is to create a visual representation of the roles • , responsibilities and their relationships and what people/organizations are assigned to • what roles and duties within the project.
  • 11. STEP 4 : PROJECT APPROVAL • The final stage requires you to review all the previous steps and gather them into a • single document called the Project Appraisal. • This document summarizes all the estimations and evaluations made, to justify • the project concept and verify that the proposed solution addresses the identified problem. • The financial, the cost-effectiveness and the feasibility analyses will serve as the • methods of project appraisal to approve the project. • The document is to be submitted to the snooper stakeholders for review and approval. • If the appraisal is approved, then the project steps to the next phase, the planning.
  • 12. IMPLEMENTATION PHASE • This process is also known as Execution phase. • The execution phase turns your plan into action. • The project manager’s job in this phase of the project management life cycle is to keep work on track, organize team members, manage timelines, and make sure the work is done according to the original plan. • Project execution is the phase where project related processes are implemented, tasks are assigned and resources are allocated. • The intent of the implementation phase of the project life cycle is to bring about the project expected results. • Unexpected events and situations will be encountered, and the project members will have to deal with them as they arise
  • 13. Steps involved in Implementation/execution phase: • Creating tasks and organizing workflows • Explaining tasks to team members: explain tasks to team members, providing necessary guidance on how they should be completed. • Communicating with team members, clients, and upper management. • Monitoring: ensure that the team members are meeting their time and quality goals for tasks. • Managing budget: monitor spending and keeping the project on track in terms of assets and resources.
  • 14. MONITORING PHASE AND CONTROL  The control and monitoring phase mainly consists of the processes that make sure that the project is on track and is moving forward according to the project plans and the other factors like budget and time.  QUALITY ASSURANCE :- • The team are required to maintain certain quality standards with the deliverables. • After an elaborate communication with the stakeholders, considering all the client requirements, certain quality standards are set for the deliverables.  COST TRACKING :- • The project success is measured by the timely delivery, quality of the deliverables and the cost that it has used throughout the project..
  • 15. • A project can go way over the allocated budget due to numerous factors including time delays, iterations, etc.  PROJECT PERFORMANCE :- • With the progress of the project, it become fairly important to manage the teams and track the performance of the project from a start to finish perspective.  OBJECTIVES AND REQUIREMENT :- • The project objectives and requirements are monitored to make sure that the project deliverables are up to the mark and fulfil all the requirements set by the client.
  • 17. PLANNING & EVALUATION Evaluation planning comes down to two questions: • What are the desired outcomes of your project? • How will you measure them? It is about building benchmarks and accountability into your plan, and using them to evaluate the plan as you go and after the project is finished. It gives your project a more strategic structure, provides evidence for your results and, importantly, contributes to the knowledge base about effective Results.
  • 18. How to develop your evaluation plan? • The steps described demonstrate how you would go about developing your evaluation plan. 1. Determine what information you will need to collect: 1. To see how your project is doing day to day (on-going monitoring) 2. To see if you are on track to achieve your intended results, if you are on time and if you are using resources as planned mid-way through your project (mid-term evaluation), so that you may make adjustments as needed 3. To see if the overall changes you were trying to achieve actually happened by the end of the project (final evaluation) and identify what you learned.
  • 19. 2. Determine your information sources/data collection methods. Sources of information may include project staff, other agencies, participants and their families, members of the public and the media. Information may be collected via a variety of methods, including:  Project records such as project activity log/daily journal: A book where you write down what happens each day. It is a useful source to document many of your indicators and will be helpful to you when writing the final project report.  Number and type of documents produced during the project (tools, flyers, advertisements, media coverage of your event/project, curriculum, etc)  Information collected about your participants related to the project (number attending sessions, information about who they are - age, gender, education, background, culture, etc)  Data from official sources (e.g. school records, census data, health data)
  • 20. 3. Determine the frequency of the data collection and who will collect the information. 4. Finally, determine how you will analyse your data and report your findings to funders, your community and your project partners and stakeholders.