This document discusses project management and the project lifecycle. It describes the typical phases of a project which include conceptualization, feasibility, preliminary planning, detailed planning, execution, and testing. It emphasizes that project management is important for organizations to help ensure projects are completed on time, within budget, and meet performance goals. Project management involves both managing the project as well as monitoring progress. Following a standardized project lifecycle and using project management techniques can help organizations reduce the number of failed projects and have more success in accomplishing their goals.

1. PROJECT MANAGEMENT PAPER 1
Project Management
Pam Hunt
University of Phoenix
MGT/437
Michael Koma
January 23, 2012

2. PROJECT MANAGEMENT PAPER 2
Project Management
Organizations either large or small sometime throughout the history of operation have
some form of project in which is conducted. Projects are performed to achieve the organizations
short or long-term goals. If projects are developed and implemented properly, few problems will
arise and the project will be a success. Throughout the lifecycle of the project the phases include
conceptualization, feasibility, preliminary planning, detail planning, execution, and testing and
commissioning. Between each of the phases organizations use checklists to ensure aspects of the
project are recognized and can determine whether there is a continuance of the project or not.
Project management aids in accomplishing the tasks associated with projects and helps ensure
projects are completed within the costs, time, and performance. Project management also reduces
the risk of a projects denial by thoroughly examining all aspects.
Defining Project
A definition of a project entails consideration to several sequences of actions
and responsibilities that have detailed tangibility with completion to clear stipulations, outlining
commence and wrap up times, financial boundaries, consumption of a populace or thing, and has
several uses. Organizations perform tasks associated with projects to meet the requirements or
needs of the organizations goals or tactics. However, projects may not always be a project,
especially if the “projects” do not include a financial plan, expected completion times, or goals.
Many projects an organization can acquire at one particular time can create problems such as
postponements on one project that could postpone another or wasteful worth of the organizations
resources creating an up and down effect. To eliminate some or most of the problems in relation
to projects, organizations incorporate project management. Through project selection,
organizations can choose projects in association to what the organization wants to attain.

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Basic Phases of a Project Lifecycle and their Purpose
The basic functions of the project lifecycle are to provide consistency throughout the
planning of the project. At the end of each phase of the lifecycle meetings are held to determine
whether the project is going accordingly if not, the project can be deemed a loss and rejected.
The meetings also can be held for funding purposes, establish better intent, or delay for the
collection of further data.
The first phase is conceptualization that identifies the problem and solutions through
compiling thoughts without eliminating any of those thoughts for an hour. Any time over the
hour can produce thoughts that may lead a group or individual off track.
The next phase is feasibility during which the practical aspects of the project are under
consideration. The purpose is to prepare the developing and implementing actions of the project,
approximation of the resources, and recognize the outlay and outcome of the latest venture with a
feasibility report. Within the report such items to evaluate on the summary level include
“alternatives, market potential, cost effectiveness, producibility, and technical base” (Kerzner,
2006, p. 402). The detail level includes specifications to the problem, innovating equipment,
internal technological competencies, strengths and weaknesses, and exchanges of time, cost, and
performance. During this phase the goals, objectives, and costs are also in consideration. By the
end of the feasibility stage organizations can determine whether to execute the project or not.
The project or proposal manager then prepares a proposal.
The preliminary planning phase follows including the “scope of the project, goals,
contractor tasks, contractor end-item performance requirements, information pertaining to the
project, equipment, customer-oriented information, schedule of performance and attachments”
(Kerzner, 2006, p. 403). Employees who understand his or her role will help reduce the amount

4. PROJECT MANAGEMENT PAPER 4
of changes during the preliminary phase. During the preliminary phase, a statement of work
(SOW) helps with a sequence of events describing the effort to be carried out; specifications
identify costs; milestones mark areas to be achieved on specific timelines; and a work breakdown
structure.
A work breakdown structure is the beginning of the detailed planning phase. This phase
provides the universal structure for mandatory information, including scheduling or design, for
example. Elements can be broken down into smaller components is easier for identifying visually
and controlling while under the directive of specific criteria.
“The summation of the activities and costs associated with each project must
equal the total program. Each project, however, can be broken down into tasks,
where the summation of all tasks equals the summation of all projects, which, in
turn, comprises the total program. The reason for this subdivision of effort is
simply ease of control. Program management therefore becomes synonymous
with the integration of activities, and the project manager acts as the integrator,
using the work breakdown structure as the common framework” (Kerzner, 2006,
p. 415).
Importance for Organizations to use Project Management to Accomplish Tasks
Organizations today want to decrease the amount of projects to be denied by
implementing project management and increase a competitive advantage. “For example, one
research study (Thomas, Delisle, Jugdev, and Buckle, 2001) has found that 30 percent of all
projects are canceled midstream, and over half of completed projects came in up to 190 percent
over budget and 220 percent late.” Project management involves the management and
monitoring of a project through:

5. PROJECT MANAGEMENT PAPER 5
Management:
 Work requirements
 Quantity and quality of work
 Resources needed
Monitoring:
 Tracking progress
 Comparing actual outcome to predicted outcome
 Analyzing impact
 Making adjustments (Kerzner, 2006, p. 3).
Success can be identified through the time it takes to complete each phase, the amount of
money spent, and the level of performance of each individual involved with the project. Project
management was designed to work cross-functionally throughout the processes of any given
project. Both project manager and line manager must communicate effectively through the flow
of work to accomplish tasks more smoothly within the organization. To do this project managers
must plan, organize, lead, and control the project to achieve the short term goals just so the
organization can achieve the long-term goals and objectives.
Conclusion
Not all projects take on the same scope but the desired outcomes of each project are the
same no matter the size of the project. Although projects may differ among industries, the project
lifecycle is dependent on serious considerations to conceptualizing the project, how feasible the
project is, planning through a statement of work or work breakdown structure, executing the
plans, and testing and commissioning from the execution. The importance of project

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management is to complete projects within time, money, and performance that will define the
success of the project.

7. PROJECT MANAGEMENT PAPER 7
References
Kerzner, H. (2006). Project management: A systems approach to planning, scheduling, and
controlling (9th ed.). Hoboken, NJ: Wiley.
Thomas, J., C.L. Delisle, K. Jugdev, and P. Buckle (2001). “Mission Possible: Selling Project
Management to Senior Executives.” PM Network, January 2001.