Explain the phases of the project lifecycle.

CPA-Quantitative-Analysis-Section-4 BLOCK RELEASE

Phases of the project lifecycle
This refers to the major time periods through which a project passes. The major project phases are
1 Defining phase. Deciding whether the project should begin and committing to do so.
The stages here are:
A. Initiation stage. Establishing terms of reference and appropriate management structure.
B. Formation stage. Selecting the project personnel.
C. Objective setting. Project objectives should be SMART.

2 Planning phase. Aims to devise a workable scheme to accomplish the overall project goal.
A. Task planning stage. Breakdown of the project into manageable tasks.
B. Feasibility and fact-finding stage. A feasibility study is a formal study to decide what kind of system should be developed to meet the needs of the organisation.
C. Position analysis, options generation and options evaluation. Use of SWOT analysis to determine the organisation‘s current position and available future options.

3 Implementing phase. Co-ordinating people and other resources to carry out the project plan.
A. Design and development stage. Specification and construction/sourcing of the actual system.

B. Implementation stage. Installation or making the developed system available for use.

4 Controlling phase. Monitoring and measuring progress and taking corrective action to ensure project objectives are met.

5 Completing phase. Involves formalising acceptance of the project and bringing it to an orderly end. May entail;
 Checking that all products are complete and delivered.
 Checking on the status of any outstanding requests for change.
 Checking that all project issues have been cleared.
 Approval of the project completion report.
 Arranging for a post-implementation review.

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