- Project is divided into distinct step or phases
- Each stage/phase is marked a number of deliverables or phase outputs
- Usually one phase consists of several sub phases or activities
- The phases/stages are progressive each stage should have phase exit or completion points that allow the next phase to be undertaken successfully
- Cost and staffing levels are low at the start, peak as the work is carried out, and drop rapidly as the project draws to a close.
- A project may require significant expenditures to secure needed resources early in its life cycle, for instance, or be fully staffed from a point very early in its life cycle.
- Risk and uncertainty are greatest at the start of the project. These factors decrease over the life of the project as decisions are reached and as deliverables are accepted.
- The ability to influence the final characteristics of the project’s product, without significantly impacting cost, is highest at the start of the project and decreases as the project progresses towards completion.
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