The conceptual phase, includes of risk and identifies

The Project Life Cycle It is Special Technique which involves all  phases, activities & tasks related to aProject’s completion. Almost every organization or company finds it useful touse Project Life Cycle as the basis for creating & finishing theirprojects. A Project life cycle figures out that projects have limited resources,skill & scope  and that there are somepossibility of increments towards Project and concentrate over the Completelyfinished Project by considering all related processes, procedures, activitiesetc. in a well-organized order.  Characteristics of Project Life Cycle ·        Identifya well-defined beginning and the end with ·        Collaboratesthe all liked operations & finds organization for Project·        Allowsphase overlapping·        Identifiesthe required Technology·        Allocationof staff to their right task according to their skill·        Costestimation at each phase·        Ensuresthe Risk Management process for the Project·        Findsthe capabilities of the stakeholders to influence the project’s application,scope & other reliabilities.

·        costis higher in the beginning and gets progressively lower as project continue·        Identifiesthe repair-cost at each phase of Project development There is a large number of models for project development& its managing but no any agreement among companies about any model. Usuallyproject management undergoes through 4 phases named as Definition, Planning,Implementation &  Closing and thesephases are unique among all those models. There is also a phase calledconceptual to find the Feasibility of project.   Phases The conceptual phase, includes of risk and identifies theimpacts on the time, cost, and performance requirements, together with the availabilityof tools from company. This is first effort to find Projects Feasibility.

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 1.    Defining stage:  Allspecified requirements of the project are defined, if some                                                     missingthen some discussions are made to identify them,                                           project’sobjectives  are established, staff isidentified separately                                         for eachtask with right jo & responsibilities are assigned to them.                          2.    Planning stage: The level of effort increases, and plans are developed todetermine what the                              project will entail, when it will be scheduled, whom itwill benefit, what quality                                          levelshould be maintained, and what the budget will be.3.

    Executing stage: A major portion of the project work takes place—bothphysical and mental.                                The physical product is produced (a bridge, a report, a softwareprogram).                                      Time, cost, andspecification measures are used for control. Is the project                                 on schedule, onbudget, and meeting specifications? What are the                                      forecasts of eachof these measures? What revisions/changes are                                 necessary?4.    Closing stage:  Closingincludes three activities: delivering the project product to the                             customer, redeploying project resources, and post-projectreview.

Delivery                                         of theproject might include customer training and transferring documents.                                        Redeploymentusually involves releasing project equipment/materials to                                        otherprojects and finding new assignments for team members. Post-project                                         reviewsinclude not only assessing performance but also capturing lessons                                             learned. Inpractice, the project life cycle is used by some project groups to depict thetimingof major tasks over the life of the project. For example, the design teammightplan a major commitment of resources in the defining stage, while the qualityteamwould expect their major effort to increase in the latter stages of the projectlifecycle.

Because most organizations have a portfolio of projects going onconcurrently, each at a different stage of each project’s life cycle, carefulplanningand management at the organization and project levels areimperative.