LO2 Understand Project life cycles Flashcards
Extended Life Cycle
What is it?
What phases are involved?
Pros
Cons
What is it?
- If a project is required to incorporate the management of change and the realisation of benefits, the life cycle of the project may be extended
What phases are involved?
- Adoption Phase - What is required to utilise the new project and enable acceptance and use of the benefits
- Benefits realisation phase - Realisation of the required business benefits
Pros
- Ensures accountability and governance of the investment stays with a single organisation
- Prevents knowledge boundaries between project teams and operations
Cons
- Will cost money to extend the project due to further project activities
Knowledge and information management
Benefits of reviews during the project
Why a project may close early?
Linear Life Cycle
What?
What phases are used?
Why linear project are structures as phases?
When to use?
What?
Project progresses through a sequential series of steps and phases known as a linear life cycle
What phases are used?
Concept - Development of an idea and outlining the contents of the business case
Definition - Detailed definition, plans and statement of requirements. PMP will form the output of this phase.
Deployment - Implementation of plans and verification of performance through testing and assurance to realise benefits and outcomes
Transition - Handover, commissioning and and acceptance of outputs to the sponsor and wider users.
Why linear project are structures as phases?
- improved planning of work
- more effective risk assessment
- Greater estimating accuracy
- more effective stakeholder communication
When to use?
Suitable for stable, low-risk environments.
Highly structures, predictable and stable, providing a transparent format for managing contracts and allowing maximum control and governance
information on the project is known upfront
Iterative Life Cycle
What is it?
When is it used?
Why is it used?
How is it used?
An example of this is
The pros and Cons of using this is
What is it?
- Uses several iterations to find the initial capability, followed by the delivery of further value.
- Repeats one or more phases before proceeding the the next
When is it used?
- Used in Agile Development Projects
- More risky project environments
Why is it used?
- Uncertain on the scope of the project allowing learning and discovery to take place
How is it used?
- Iterations are allowed to be performed in parallel
An example of this is
The pros and Cons of using this is
