Project Life Cycle Phases Flashcards
What are the 4 Life Cycle Phases?
- Initiating and Defining Phase
- Planning Phase
- Implementing & Executing Phase
- Closing and Transitioning Phase
What makes up the Initiating and Defining Phase?
Scoping of Project
Needs Assessment
Determine Feasibility
Create Project Business Documents: Business Case & Benefits Mgmt Plan
What is the document that initiates a Project?
Project Charter
What makes up the Planning Phase?
Project mgmt phase
Subsidiary mgmt phase
Contingency plans
Commit to baseline
Outcome of Planning Phase: Road map for Project Execution
- Scope
- Time
- Cost
What are the outcomes of the Planning Phase?
Scope
Time
Cost
What makes up the Implementing & Executing Phase?
Create deliverables
Handle risks & issues
Communicate performance
Manage work
Control work
What makes up the Closing & Transitioning Phase?
Verify deliverables
Close risks & issues
Admin closures
Customer acceptance
Transition to operations
Document lessons learned
What are the 2 Business Documents in the Initiating and Planning Phase?
Needs Assessment
Project Benefits Mgmt Plan
What is a Business Case?
Comes after the Needs Assessment
Documents the reasons, justifications, and benefits for selecting a project
Should be done for ALL proposed projects
The sponsor is responsible for creating and maintaining the business case
Who is responsible for creating and maintaining the Business Case?
Project Sponsor
What does the Project Benefits Mgmt Plan document?
How the organization will measure value (Created before project initiation)
What are the 3 steps of the Project Benefits Mgmt Plan?
- Identification
- Execution
- Sustainability
Are Business documents counted as Project documents?
No - occurs before and/or after the project
Is the PM responsible for updating Business documents?
No - only project documents. Project Sponsor in charge of business documents
Who is in responsible for maintaining the Project Benefits Mgmt Plan?
Benefits Owner
