2. Understanding Project Life Cycles

Question 1

Project Life Cycle Describes

Answer 1

1. What are the objectives of the projects
2. What outputs (deliverables) will be produced and when
3. Who is involved in each phase
4. How management will control and approve the work produced in each phase
5. What activities to be done to handover the outputs (deliverables) and close the project

Question 2

Project Life Cycle Phases

Answer 2

1. Concept
2. Definition
3. Development
4. Handover and Closure
   (5. Benefits Realisation)
   (6. Product Termination)

Question 3

Concept Phase includes:

Answer 3

• Business Case and Schedule Creation
• Sponsor is appointed
• Analysis of the idea

Question 4

Definition Phase includes:

Answer 4

• Preferred solution is identified and ways to achieve it are refined
• PMP is developed
• PMP and Business case have to be approved by the sponsor

Question 5

Development Phase includes:

Answer 5

• PMP is put in aciton
• Phase could be broken down in stages
• This phase usually takes the most time and resources
• PM mus use their leadership skills

Question 6

Handover Phase includes:

Answer 6

• Project Outputs are handed over to the sponsor/client
• Sponsor/client accepts the outputs
• Acceptance certificates signed by the sponsor/client
• Transfer of responsibility
• Formal transfer of ownership

Question 7

Closure Phase includes:

Answer 7

• Any surplus project materials and facilites are disposed of
• All contracts and purchase orders are finalised
• All project accounts are finalised
• All project documentation and records are completed and archived
• A post project review is udnertaken for lessons learnt
• Performance appraisal

Question 8

Benefits Realisation Phase includes:

Answer 8

• Incorporation and management of the project outputs and realisation of the benefits
• Periodic benefit reviews
• Regular operations/business-as-usual

Question 9

Product Termination Phase includes:

Answer 9

• Consisting of the discontinuation, removal or retirement of products from services

Question 10

Benefits of Structuring Projects into Phases

Answer 10

• Enables understanding of the process
• Encourages the scope to be well defined
• Outputs for each stage are known
• Creates natural decision points
• Helps resource allocation
• Clarifies what work will be done next
• Helps with pricing, estimating and comparing projects
• Eases communication with stakeholders
• Makes sure tasks are completed before the next stage/phase begins

Question 11

Phased structures facilitate governance through:

Answer 11

• High Level Planning
• Phase Reviews
• Go/No Go decisions

Question 12

Benefits of Conducting Reviews

Answer 12

• A quality control check
• A business case check
• A management check

Question 13

Type of Reviews

Answer 13

• Project Evaluation
• Gate reviews
• Audits
• Peer reviews
• Benefit Realisation reviews
• Post Project reviews