BTCM4580 - Report on Project Life Cycle
Added on 2020-03-04
11 Pages2529 Words65 Views
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RUNNING HEAD: PROJECT LIFE CYCLE 1PROJECT LIFE CYCLEStudent NameInstitute Name
PROJECT LIFE CYCLE 2ContentsIntroduction......................................................................................................................................3Part A...............................................................................................................................................3Project life cycle..............................................................................................................................3Implications on the effective management of risk...........................................................................5Part B...............................................................................................................................................7Risks those are likely to be present across the life cycle of the vehicle..........................................7Planning on how to envisage those risks would be managed..........................................................7Implication of risk controls for the design team..............................................................................9Conclusion.......................................................................................................................................9Reference.......................................................................................................................................10
PROJECT LIFE CYCLE 3IntroductionThe project team as well as project manager have always shared a same kind of goal in order to carry out the work of the current project for the motive of meeting the projects goals. The report will discuss in detail about different aspect of projects. Part AProject life cycle Each project has an initiation, a middle phase during which functions move the project for completing and an end. A standard project is typically has four important phases which will discuss in detail below: - 1.Initiation: it is the first phases which are also called as initiation phase, where the main aim or need is based on recognition. This can be related to business issues as well as opportunity. A right response for the need can be documented in a business case with proper answers and right options (Burke, 2013). In this phase, a feasibility study can be conducted in order to evaluate all the options that deal with the project aim and a final solution will also be decided. It is also important to address the feasibility as well as justification that need to be addressed here. When the solution is approved, the initiation phase starts in order to deliver the right solution. There are important deliverables along with participating work group that are recognized. (Loosemore & Raftery, 2006).2.Planning phase: the very next phase consists of the planning stage where the solutions of the project are further developed along with the details. The steps taken here are important to meet the goal of the project and it must be properly planned. This step and
PROJECT LIFE CYCLE 4the team also recognize all the work that needs to be done. The task in project along with need of resources is timely recognized along with the proper strategy for manufacturing them. This further can be referee as scope management and the plan helps in outlining thefunctions, risks and timeframes (Walden et al., 2015). The project manager also coordinates the final preparation of project budget in order to provide estimates for cost for the labor, tools and cost of material. The budget is utilized to supervise as well as control any expenditures associated with the cost especially during the implementation phase. It is important to carefully assess all kind of risks at this stage. In the end, it is alsoimportant to properly document an effective plan by providing targets with quality along with assurance and various control measure along with the right plan as well as listing thecriteria in order to meet the gain from acceptance from consumers. (Loosemore & Raftery, 2006).3.Implementation phase: this is the third phase which is also known as implementation phase and the project in this stage plan to put everything into motion and the work of the project needs to be performed in a proper manner (van den Ende and van Marrewijk, 2014). It is crucial here to maintain a proper control and timely interact as and when required during this phase. The development is monitored constantly and with right kind of adjustments and recorded any difference from the original plan. In any such project, the manager spends maximum amount of time during this phase. At the time of project implementation, people usually carries the task and the information associated with project and it will be reported through a regular team based meetings. The very first course of action here should always be based on bring the project back on the proper course. The very first step should always be based on bring the project back on right path.
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