Project Life Cycle in Project Management

Phases for Project Management – Life Cycle of a Project in Project Management

Regardless of the size, nature, or ultimate goals of any project, the same basic project life cycle in project management applies. Projects are defined as anything that takes place in a business setting for the purposes of reaching a collective beneficial goal. From the simplest service changes to new product introductions to overseas expansion, projects have a marked effect on the way the business performs. Each of these projects shares the same basic structure – initial vision, planning, implementation, monitoring, optimisation, and closure. It’s only when each of these phases for project management is given sufficient focus that the project as a whole can reach its full potential.

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This insightful tutorial provides newcomers to project management with a complete overview of the life cycle of a project in project management. Study each of the project cycle stages in-depth, including the initial project vision and description, identification of stakeholders, creation of project overview documents, and more. Learn how to develop project resource plans, staff management planning, the development of financial plans, quality control, and planning for risk. Find out how each stage in the project life cycle contributes to the overall success of the wider project.

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