Answer to Question #187705 in Management for Asisipho Magwentsh

Question

Analyse the project in the case study and compose what you believe to be the projects life cycle. You 

MUST explain each stage by applying the context given in the case study.

Answer 1

The project manager and the project team have one common goal: to complete the project's work to achieve the project's objectives. There is a beginning, a middle phase during which activities bring the project closer to completion, and an end to any project. Initiation, preparation, execution, and closure are the four main phases of a typical project (each with its own set of tasks and issues). These stages, when taken together, reflect the direction a project takes from start to finish, and are referred to as the project "life cycle."

The project goal or need is established during the first of these stages, the initiation phase; this may be a business challenge or opportunity. A business case with recommended solution solutions is used to document an acceptable response to the need. A feasibility analysis is carried out to see whether each alternative meets the project's goal, and a final suggested solution is decided.

The project solution is further defined in as much detail as possible in the next phase, the planning phase, and the measures required to achieve the project's objective are planned. The team defines all of the work that needs to be done in this phase. The project's tasks and resource requirements, as well as the plan for achieving them, are described. The operations, assignments, dependencies, and timeframes are outlined in a project schedule. By presenting cost estimates for labor, facilities, and supplies, the project manager directs the preparation of a project budget. During project execution, the budget is used to monitor and manage cost expenses.

The project plan is set into action and the project's work is completed during the third process, implementation. During implementation, it's critical to maintain control and interact as required. Progress is tracked regularly, and any necessary changes are made and reported as deviations from the original plan. A project manager spends the majority of his or her time in this position in every project. People carry out the tasks as the project is being implemented, and progress is announced through daily team meetings. The project manager uses this information to keep tabs on the project's progress by contrasting progress reports to the project plan to assess project activity success and take corrective action as appropriate.

The focus of the final closure, or completion process, is on delivering final deliverables to customers, handing over project documents to the company, terminating supplier contracts, releasing project capital, and communicating the project's closure to all stakeholders. The final step is to perform lessons-learned analyses to see what worked and what didn't. The wisdom of experience is passed back to the project organization via this method of research, which will benefit potential project teams.