{"id":6172,"date":"2021-05-18T00:00:23","date_gmt":"2021-05-18T00:00:23","guid":{"rendered":"http:\/\/ec2-52-95-249-27.ap-south-1.compute.amazonaws.com:8000\/blog\/?p=6172"},"modified":"2023-12-20T19:20:03","modified_gmt":"2023-12-20T19:20:03","slug":"what-is-project-lifecycle-and-how-to-get-it-right","status":"publish","type":"post","link":"http:\/\/ec2-52-95-249-27.ap-south-1.compute.amazonaws.com:8000\/blog\/what-is-project-lifecycle-and-how-to-get-it-right\/","title":{"rendered":"What is Project Lifecycle and How to Get it Right?"},"content":{"rendered":"

If you look for an example of a multi-skilled role, consider the core job of a project manager. From the role of a task manager to being a leader and mentor with subject matter expertise, a project manager<\/a> wears multiple hats. Out of these roles, the primary responsibility that steers the project progress with success lies in managing the project lifecycle<\/a>.<\/p>\n

As per the Project Management Institute (PMI)<\/a>, the project lifecycle offers a systematic, timely, and comprehensive process that benefits a project\u2019s stakeholders.<\/span><\/p>\n

To achieve better project management, managers split each project into different phases. These phases cumulatively form the project’s life cycle. It simplifies the project management<\/a> process as the outcome of each phase is defined earlier so that everyone knows what to expect.<\/p>\n

Whether it is a small project with a single team or a large, multi-departmental one, the project lifecycle ensures that each project is structured, tracked, coordinated, and completed efficiently to achieve specified goals and deliverables.<\/p>\n

\"Ensure<\/a>
\nThis article discusses the project life cycle in detail, its importance, and how implementing the five phases can lead to success.<\/p>\n

Let’s get started.<\/p>\n

What is Project Life cycle and its Importance<\/h2>\n

A project lifecycle is the sequence or series of phases that a project undergoes from its initiation to its closure. The objective of the project lifecycle is to establish an easy-to-follow system for all resources<\/a> to complete a project successfully. The life cycle for each project may vary depending on the specific needs, nature, and scope of a project. However, the key phases remain the same.<\/p>\n

Importance of the Project Life Cycle<\/strong><\/p>\n

The project life cycle plays an important role in project management<\/a>. Imagine working on a project without a specific purpose or goal? Or assume working in a siloed work environment which leads to management chaos? Odd, isn\u2019t it?<\/p>\n

The project lifecycle provides a systematic project strategy that specifically outlines each project’s tasks and output. It also enables managers to monitor the progress of the project and review tasks that are completed in each phase.<\/p>\n

In addition, the project phase framework also helps in defining roles and responsibilities in each phase and enhances communication among resource teams<\/a>. It makes project managers recognize risks and constraints and plan well in advance.<\/p>\n

\"Project-Resource-Management-An-Ultimate-Guide-on-How-to-Master-it<\/a>
\nLet\u2019s delve deep and understand the different types of a project life cycle in detail;<\/p>\n

Types of Project Life Cycle<\/h2>\n

Depending on the organization, there are different types of project life cycles that a company can follow to achieve the desired outcome. Primarily there are three types of project life cycles;<\/p>\n

Predictive life cycle:<\/strong><\/p>\n

The predictive life cycle is also called plan-focused or plan-driven<\/strong>. In this life cycle, the scope, time, and costs are defined at the beginning of the project. Here activities of the project follow a sequential approach, which implies that one phase leads into the next phase and so on. Predictive development tends to be the best for static\/simple projects.<\/p>\n

Iterative and Incremental life cycle:<\/strong><\/p>\n

In iterative or incremental life cycles, the events of the project are repeated in phases or iterations. It takes a project<\/a> sequentially or overlappingly by a sequence of repetitive loops. In comparison, an incremental life cycle adds a functionality feature at each iteration.<\/p>\n

This life cycle is often used for large and complex projects, which allows input and improvements to be incorporated throughout the process.<\/p>\n

Agile or adaptive life cycle:<\/strong><\/p>\n

This project lifecycle is also called change-driven<\/strong> or <\/strong>agile life cycle<\/strong><\/a>. In an adaptive life cycle, like SCRUM<\/strong> or KANBAN<\/strong>, the project is developed over multiple iterations. Here iterations are more rapid and take place at fixed intervals and cost. It is majorly used in IT projects or to build software applications that experience fast-paced changes.<\/p>\n

The PMI<\/a> has acknowledged the importance of an Adaptive or agile life cycle by including it in the 5th Edition PMBOK\u00ae Guide.<\/span><\/p>\n

\"Ebook<\/a>
\nNow that we are aware of the various types of the life cycle within a project let\u2019s understand the phases of a project management process.<\/span><\/p>\n

The Phases of a Project Lifecycle<\/h2>\n

The project life cycle consists of five crucial phases that play a lead role in helping the project manager and the concerned team achieve goals set in the project.<\/p>\n

These five distinct phases are;<\/p>\n