Unit 2: Understand project life cycles

Question 1

2.1
2 differences between linear and iterative lifecycles

Answer 1

Linear lifecycles are sequential whereas iterative lifecycles repeat one or more phases.

Linear lifecycle is suitable for structured projects whereas an iterative lifecycle is more suitable to projects with evolving objectives and is therefore used in agile development projects.

A linear lifecycle is good for projects with clear scope - the project will move through the sequential phases smoothly. When project scope is vague, a iterative lifecycle allows the project to develop several other of the output.

Question 2

2.3
Explain 3 differences between a project lifecycle and an extended lifecycle

Answer 2

1. A project lifecycle contains the phases Concept, Definition, Deployment, and Handover & Closure, whereas an extended lifecycle goes beyond handover and closure - to include a benefit realisation phase.

During a project lifecycle, the PM is not accountable for realising the benefits but in the extended lifecycle the PM remains accountable until the projects output change is fully embedded into the business.

An extended lifecycle will include benefits planning and benefits management during the concept and definition phases. These supplementary activities will be included in various project management plans such as within the scope, schedule, risk and budget sections.

Question 3

2.4
Explain 3 ways knowledge management can be used for effective decision making

Answer 3

1. Status reporting - the PM is better able to prepare progress reports by looking at the projects live documents such as the risk register, the schedule, the budget, and quality control / assurance reports.
2. Risk identification - The PM is able to view the risk management plans and risk registers of previous projects to help identify risks. Also the PM can facilitate risk workshops with project stakeholders to identify risks and / or to discuss corrective actions for known risks.
3. Availability of information - Project information is required quickly and without prior notice at times, for example, during audits and gate reviews. Ensuring all project documentation is filed in an orderly way ensures that project decision makers can access information on time. An effective filing system will have an index to direct project team members to the relevant required folder.

Question 4

2.5
Explain 1 benefit of carrying out each of the following types of review:
Benefits Review, Stage Gate Review, Audit

Answer 4

Benefits Review
This will be carried out post handover, usually 6 months to a year afterwards. The review will investigate if the projects change output successfully delivered the anticipated benefits identified within the business case.

Stage Review
The PS will check that the project stage has completed successfully before giving approval to the PM to begin the next stage. The stage success criteria will be checked and progress against timelines and budgets baselines in the project management plan.

Audit
An independent assessment to check the project is following the agreed governance and processes as defined within the quality management plans. The audit also checks that the project activities are aligned with achieving the outputs and objectives required to realise the intended benefits.

Question 5

2.6

3 factors which may cause an early closure of a project

Answer 5

1. No longer aligned to business objectives or strategy - especially on projects with long timescales as the business strategy may change mid project. Although the project may be on plan, if it does not feed into and align to the business strategy then the project may be closed early.
2. Planned benefits no longer available
   Planned benefits are defined during the concept phase and the project justified based on delivering those benefits. For example, a project defines benefits during the concept phase as 20 new jobs being created but as the project is developed it becomes clear that the number of new jobs will be 50% less. The project may close early if a change request is refused based on a negative benefits cost ratio.
3. Results of earlier work are not favourable - too many challenges, too many scope changes, over budget and behind on schedule are examples of when projects get closed early following a failed stage review.