...The Project Life Cycle The undertaking of a project by an organization can be a tremendous feat for those who are tasked with managing and part-taking in getting the project off the ground, and seeing it to the finish line. But before the project life cycle is discussed, we first have to understand what is defined as a project, its characteristics, and how a project manager reaches to the point of establishing a system that assists them in identifying the progression through the different stages of the project. A project is typically defined as an undertaking that is of a complex nature that is non-routine, a one-time effort and is limited by time, budget constraints, resources, and performance specifications designs to meet the specific needs of the final recipient (Grey & Larson, 2006). A project in its established characteristics possesses a defined life span with a beginning and end date, an established objective, specific time, cost, and performance requirement as mentioned earlier. A project also involves several departments and professionals, and most importantly, doing something that has never been done before. From the characteristics of a project mentioned above, a project life cycle fits with the defined life span of the project and the milestones that needs to be accomplished at different stages while the project is in progress. The project life cycle consists of four different stages which includes the defining or initiation phase, the planning phase,...
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...Project Life Cycle The four sequential major time periods through which any project passes, namely: 1. Concept 2. Definition 3. Execution (implementation or development) 4. Finishing (commissioning or close out). Each period may be identified as a Phase and further broken down into stages that typically reflect the area of project management application and the size and complexity of the specific project. [D01432] A collection of project phases whose name and number are determined by the control needs of the organization or organizations involved in the project. [D01428] The complete set of time periods through which a project passes sequentially in a logical and orderly manner. In its simplest form the life cycle consists of four major periods: 1. Concept (where the project concept as a need solution is selected and defined) 2. Development or Definition (where the concept is verified and developed into a workable plan for implementation) 3. Implementation (where the implementation plan is carried out); and 4. Closeout (where the project process is completed and documented, and the finished product is transferred to the care, custody and control of the owner.) Progress through the project life cycle is identified by ‘milestones’, but these major periods should be separated by ‘Control Gates’ or ‘Executive Control Points’. [D01429] The four sequential phases in time through which any project passes, namely: Concept; Definition (or Development);...
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...BETWEEN PROJECT MANAGEMENT AND PRODUCT CYCLE TIME TOWARDS COMMERCIAL SUCCESS TABLE OF CONTENTS Pages Executive Summary 2 1.0 Research Overview 2.1 Introduction 3 2.2 Research Background 3 2.0 Literature Review 2.1 Review of the Literature on the relationship between cycle time and products 3-9 3.0 Analysis and Discussion 9-10 4.0 Conclusion 11 5.0 References 12 CHAPTER I 1.0 Introduction 1.1 Research Background As global competitive pressure increase and product life cycle compress, companies are trying to shorten product development cycle times (Griffin, Journal of Marketing Research, Febuary 1997). Nevertheless, faster may not be always good. Intensive research in one firm shows that rapid development times are not correlated with expected commercial success (Utterback M. H., 1995) New product development (NPD) cycle time is critical because life cycle are shrinking, and obsolescence is occurring more quickly than in the past while competition also has intensified. To keep up with competition and continue grow in the face of shorter product life cycle, it has...
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...The Project Management Life Cycles The Project Management Life Cycles It doesn't matter what project you are preparing for, the project management life cycle can assist you and your team in narrowing the project's focus, keeping its objectives in order and finishing the project on time, on budget and with a minimum of headaches. The project management life cycle contains five steps: Initiation, Planning, Execution, Monitoring/Control and Closure. No one step is more important than the other and each step plays a crucial role in getting you started, through all the hurdles, down to the wire and across the closing line. The five process groups are: Initiating, Planning, Executing, Monitoring & Controlling, and Closing. We'll start with Initiation; Initiation: In this first step you provide an overview of the project in addition to the strategy your planning on using in order to achieve the desired results. During the Initiation phase you’ll develop the Project Charter, Identify Stakeholders, appoint a project manager and based on his or her experience and skills, he/she will select the required team members. The processes performed to define a new project or a new phase of an existing project Planning: This second step is extremely important, it should include a detailed breakdown and assignment of each task of your project from beginning to end. The Planning Phase will also include a risk assessment, the scope of the project, refine the objectives and define the...
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...Monday, November 16 2014 Professor Anne Marie Sowder New York City College of Technology, CUNY Project Life Cycle: The Greenwich lane Part 1: Site history Part 2: Project Design Part3: Project Construction Part4: Project Analysis Moustapha Sylla CMCE -1220 Site History The Greenwich Lane Condos and Townhouses is a composition of five unique address located at 160-150-140 West 12 street and 155-145 west 11 street in Manhattan. The site was previously used as the St Vincent’s hospital. The Saint Vincent Hospital was founded in 1849 by the sisters of charity to response in New...
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...The outline of the stages of the project life cycle for a selected project – Product launch Introduction In this document I will be outlining the four stages of the project life cycle for a selected project, in this case a product launch. I will also be identifying the importance and purpose of holding an event which can be related to any sort of event as long as it involves people and a project. Purpose of the Event The purpose of the event is a very crucial in regards to holding a successful event. The purpose of the event is related to the nature of the event since it illustrates the reason for the event. In this case, an event centred round the launching of a new product would solely be solely based on just that. Most events are held to raise money or awareness of a new product line. Some events could be to raise money for charity and could also improve customer service. There are various purposes for events, these include the following: * Celebrations (fairs, parades, weddings, reunions, birthdays, anniversaries) * Education (conferences, meetings, graduations) * Promotions (product launches, political rallies, fashion shows) * Commemorations (memorials, civic events) Planning Planning is the first stage of the project life cycle, this is because you cannot say you want to hold an event and do nothing about it, or expect everything to come to fruition just by doing nothing whatsoever. One has to plan for an event way ahead of the event date to accommodate...
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...What is Project Cycle Management (PCM)? “Project Cycle Management” is a term used to describe the management activities and decision-making procedures used during the life-cycle of a project1. The image of a ‘project cycle’ assists applicants to understand how to organize their work so that it is based on real needs, is well planned, monitored and evaluated, and allows involved parties to learn from every project to improve their future work. The cycle represents a continuous process in which each stage provides the foundation for the next. The generic project cycle has six phases. In practice, the duration and importance of each phase may vary for different projects. Identification Evaluation Identification Appraisal Evaluation Preparation Preparation Appraisal Implementation and monitoring Proposal preparation, approval , financing Implementation and monitoring Proposal preparation, approval , financing Identification – generation of the initial project idea and preliminary design Preparation – detailed design of the project addressing technical and operational aspects Appraisal – analysis of the project from technical, financial, economic, gender, social, institutional and environmental perspectives Proposal preparation, approval and financing – writing the project proposal, securing approval for implementation and arranging sources of finance Implementation and monitoring – implementation of project activities, with on-going checks on progress and feedback...
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...ACC 201 Final Project Part I Accounting Cycle Report Your Name Southern New Hampshire University Accounting records provide detail information of all transactions and events occurred in a business enterprise during the accounting year. To maintain accounting records, accounting cycle has a vital role. In this project we are going to discuss about the accounting cycle, its role in maintaining records, steps in accounting cycle, effects of omitting steps in accounting cycle on business progress, important financial statements and their importance. The accounting cycle consists of the following steps: Opening accounts in the ledger with the opening balance; identifying and recording transactions events occurred during the accounting year;...
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...Term Paper RESON: MAKING DEVELOPMENT TEAMS ACCOUNTABLE FOR SHORT PROJECT CYCLES: Case Study by XXXXX XXXXXX Professor XXXXXX XXXXXX University January 30, 2015 Content Company Background 2 Company’s Structure and Strategies 3 Specific Problems 3 RESON’s shared philosophy 4 Reson: All focus on time 5 Reson: project in 1998 5 Grounded 5 Recommendation 6 Conclusion 8 References 9 RESON: MAKING DEVELOPMENT TEAMS ACCOUNTABLE FOR SHORT PROJECT CYCLES Company Background Reson Company was found in Denmark in 1976. The company...
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...THE MEANING OF PROJECT: A project is a unique venture with specific start and end dates. This is different from an ongoing task that doesn't have an end date. Projects often involve different parts of an organization. Constraints on project include cost, schedule, resources, and quality. There is a give and take between these items i.e. you can't have it all. Usually projects are divisible into stages or phases each with their own set of priorities and goals. A project is an important and carefully planned piece of work that is intended to build or produce something new, or to deal with a problem. The Project Management Institute, U.S.A. has a good definition for it. According to the Institute, a project is a one-shot, time-limited, goal-directed, major undertaking, requiring the commitment of varied skills and resources. It also describes a project as: a combination of human and non-human resources pooled together in a temporary organization to achieve a fixed set of objectives The aforementioned descriptions emphasize that a project does not mean a material body or form, rather it denotes an operation undertaken temporarily to achieve a goal-directed objective within a limited time. In contrast, the Oxford English Dictionary states that a project is "a plan, scheme or table of something; a tabulated statement; a design or pattern according to which something is made; something projected or proposed for execution; a proposal." It is, therefore correct to...
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...2/1/04 The Role of the Project Life Cycle (Life Span) in Project Management A literature review by R. Max Wideman (Updated February, 2004.) Introduction Patel and Morris have stated that "The life cycle is the only thing that uniquely distinguishes projects from non-projects".1 If that is true, then it would be valuable to examine just what role the so-called project life cycle plays in the conduct of project management. And, moreover, has this changed over the years as we improve our understanding of the complexities of project management. So, what is the project life cycle? According to the same source "The sequence of phases through which the project will evolve. It is absolutely fundamental to the management of projects . . . It will significantly affect how the project is structured. The basic life cycle follows a common generic sequence: Opportunity, Design & Development, Production, Hand-over, and Post-Project Evaluation. The exact wording varies between industries and organizations. There should be evaluation and approval points between phases often termed 'gates'."2 How does that make it different from normal operational corporate endeavors? For that we must understand the definition of project. According to Richard E. Westney: "A project can be defined as the work required to take an opportunity and convert it into an asset."3 In this sense, both the opportunity and asset are singular, with the implied use being for generating benefit – rather than consumed as a...
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...TEXAS DEPARTMENT OF INFORMATION RESOURCES System Development Life Cycle Guide Version 1.1 ● 30 MAY 2008 Texas Project Delivery Framework SYSTEM DEVELOPMENT LIFE CYCLE GUIDE Version History This and other Framework Extension tools are available on Framework Web site. Release Date Description 30-May-2008 Version 1.1 released. Modified all references to “Project Plan and related plans” to “Project Plan” in order to align with Framework 2.0 and Change Request 38. 25-Sep-2007 Version 1.0 – System Development Life Cycle Guide released. DIR Document 25GU-1-1 ii Texas Project Delivery Framework SYSTEM DEVELOPMENT LIFE CYCLE GUIDE Contents Introduction ................................................................................................................................1 Use of the System Development Life Cycle Guide ....................................................................2 Section 1. System Life Cycle Processes...................................................................................3 1.1 Introduction ......................................................................................................3 1.2 System Life Cycle Processes and the Organization ........................................4 Section 2. Development Process ..............................................................................................5 2.1 Introduction ..........................................................................
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...received full credit for this paper - 100 % Project Management Paper MGT/437 July 8, 2013 Jenny Kirgis, MBA Project Management Paper The purpose of this paper is to define the concepts that are involved in project management. Organizations across the globe utilize a particular kind of organized methodology to manage business projects. Project management is a means that brings significant benefits and discipline to organizations because it helps to define goals and objectives, it highlights the areas of success, and it accesses risk factors involved in the project. In addition it helps to manage change within an organization and it ensures that the corrected resources are available to complete project. The paper will discuss in detail the importance of project management and why organizations utilize it to accomplish project tasks. In addition it will discuss and define a project and it will describe the phases of a project life cycle and their functions. What is a Project? A project is reviewed as any series of tasks and activities that is directly linked to a specific assignment that must be completed by a specified deadline. A project will usually have a concrete start and completion date with a set amount of money allocated to fund the project. Projects are multifunction which consists of both human and nonhuman resources such as equipment, budgets and people (Kerzner, 2006). Project development, planning and implementation require...
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...Development Life cycle (SDLC) is a model which is used in a project management that involves and describes the stages which are used in information system development project. This life cycle is very useful for the implementation of system development project. The system is a set of components that interact to achieve common goals. It is widely used method of software development and acquisition in information technology area. Various enterprises used this system to achieve a common goal by working together in a proper and systematic way which is useful for achieving the resources and goal. There are various phases which are involved in the process of systematic development life cycle i.e. Planning, Analyzing, designing, supportive and implementation (Joanne Curry, 2007). Planning help us to review the project request, allocate resources and identify project development team. Analyzing is done to conduct preliminary investigations, Designing is done to acquire hardware and software and develop details of systems. Supporting is done to identify errors and monitor system performance and Implementation is a final stage which develops programs and install and convert it into new system. This phase says about its usage in various different enterprises and institutions (Angela Bonin, 2012). The use of System Development Life Cycle in health care institution involves various principal component of a regional hospital care facility. It is much standardised project of management framework...
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...Chapter 2: The Project Management and Information Technology Context Learning Objectives o Describe the systems view of project management and how it applies to IT projects. o Understand organizations, including the four frames, organizational structures, and organizational culture. o Explain why stakeholder management and top management commitment are critical for a project’s success. Learning Objectives (Cont.) o Understand the concept of a project phase and the project life cycle and distinguish between project development and product development. o Discuss the unique attributes and diverse nature of IT projects. Projects cannot be Run in Isolation o Projects must operate in a broad organizational environment. o Project managers need to use systems thinking: n Taking a holistic view of a project and understanding how it relates to the larger organization. o Senior managers must make sure projects continue to support current business needs. A Systems View of Project Management o The term systems approach emerged in the 1950s to describe a holistic and analytical approach to solving complex problems. o Three parts include: n Systems philosophy: an overall model for thinking about things as systems, which are interacting components that work within an environment to fulfill some purpose. n Systems analysis: Problem-solving approach. n Systems management: Address business, technological, and organizational issues before making changes to systems. Three...
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