Project Life Cycle Stages - Doc

MANAGING PROJECTS
INDIVIDUAL PROJECT

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK 1............................................................................................................................................3
Key Characteristics of a Project and PID....................................................................................3
Scope Statement and role of WBS..............................................................................................3
Gantt Chart..................................................................................................................................4
Network Diagram........................................................................................................................4
Task Distribution.........................................................................................................................4
Approaches for generating a specific project budget..................................................................5
Project Risk and various responses that can be taken.................................................................5
Quality Evaluation Methods for successful Project Completion................................................6
TASK 2............................................................................................................................................6
Activities needed to be performed for managing the project .....................................................6
Skills and competencies required by Project manager ...............................................................7
Project life cycle stages ..............................................................................................................9
Leadership, administration and control issues in relation to administration of life cycle of big
project........................................................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Project management is basically a application of procedures, methodology and skills
applied for accomplishing particular objectives. It is the procedure which includes development
of Plan as well as allocation or arrangement of resources for completing the project on time.
Proper administration of project is very much crucial in order to achieve desired objectives. It is
the project management which assist in eliminating the obstacles which might occur in
completion of the project on time and in efficient manner.
The report have focus on identification of key characteristics of project. It also
emphasizes on addressing the purpose of project initiation document. The different quality
methods will be highlighted in the report. In addition to this, there is demonstration of the way
project risk might arise. In report there will be focus on identification of skills and competencies
required for managing the project in successful manner.
MAIN BODY
TASK 1
Key Characteristics of a Project and PID.
In order to be successful, there are some key elements that every projects should have:-
 A clear and defined Purpose which involves measurable end result.
 It is Temporary in nature i.e. there is a fixed starting point and a fixed ending point.
 As project progresses, it becomes more effective and is Improved Continuously. There is Risk associated with every project because something is usually at stake while
undertaking a project (Weninger. and Huemann, 2015).
Project Initiation Document i.e. PID is a key component acting as a foundation for every
project. It basically helps in accumulation of raw data which is essential for defining the project
plan and it depicts a detailed start-up document of a project. It is linked with PRINCE2 in
initiating a project plan.
Scope Statement and role of WBS.
A Project Scope Statement describes key milestones, objectives, risks associated,
requirements, stakeholders approval etc. It defines the area or boundary within which a project
will operate and also clearly diversifies the areas that are in and out of the scope of project
(Russell, Pferdehirt. and Nelson, 2018). Work Breakdown Structure (WBS) is a part of Scope
3

management in project as it simplifies the project by breaking it into smaller and easier work
units that increases efficiency and manageability of the project.
Gantt Chart.
Network Diagram
Task Distribution
The total number of weeks that were taken to complete the project as per the critical path are
activity A+B+D+F i.e. 25 weeks which is equal to 175 days.
4

Approaches for generating a specific project budget.
Budgeting for a project involves identification and allocation of different costs related to
a specific project. Some basic approaches are:- Analogous Estimating:- This is done by using a the estimated costs of a another project
which is similar in nature that has been undertaken. This is used when sufficient
information is not available for preparing a budget and project manager is in hurry. Parametric Estimating:- Here costing is estimated on the basis of cost per unit and
duration of production (Huang, 2019). This is usually used in manufacturing industries
where production is in batches or units. Top-Down Estimating:-Top Down is adopted when senior management finalises the
estimated cost and this is then conveyed to the managers.
 Bottom-Up Budgeting:- Here, the team that is actually associated with the project
formulates the budget and then it is conveyed to the senior management for approval.
Project Risk and various responses that can be taken.
Project Risk is an inescapable part of a project and can arise due to many reasons or
unforeseen events like inflation/ deflation of the currency, change in foreign currency rates in
case of foreign projects, change of the weather, natural disasters, sudden deaths or other
inconveniences that might arise due to which a project cannot be completed within its full
capacity. Various responses that can be implemented can be categorized in five broad headings:-
Accept:- Accept here means there is no remedy and if the consequences arise, the team has no
other option except to deal with it accordingly.
Avoid:- Avoid involves modification of plans in order to reduce or remove the chances of a
certain occurrence which would affect negatively (Kerzner, 2017).
Transfer:- Under this, the risk or its impact basically is transferred to someone else i.e. some
third party so that if it occurs, consequences are borne by these third parties.
Mitigate:- Mitigation is the best strategy under which the impact of risk is tried to minimized so
that in case of occurrence of any event, its effects can be minimized or controlled.
Exploit:- This is the only scenario which considers positive aspect of a risk which gives a chance
to exploit the opportunity.
5

Quality Evaluation Methods for successful Project Completion.
After Implementation the project does not gets finished and it needs to be regularly
evaluated and cross checked ensuring that he project implementation is successful and going in
the direction that was intended i.e. it is fulfilling its purpose. There are various techniques for
monitoring project:-
Benchmarking- Under this the project manager formulates standards which the project should
achieve and these are then compared with the actual achievements. The deviation between
standard and actual data is then evaluated so that root causes behind such deviations can be
removed.
Project Evaluation:- It is a systematic assessment of a project which can be either ongoing or is
completed (Posavac, 2015). This helps in analysing the relevance of the achieved projects i.e.
how well was it able to fulfil the objectives for which the project was initially started and
whether the direction in which it is proceeding is correct.
Monitoring and Evaluation:- Monitoring and evaluation process helps in improving the
performance so that the desired results can be achieved. Monitoring helps in continuous
assessment and evaluation involves examination of the active between fixed durations.
TASK 2
Activities needed to be performed for managing the project
Project management is crucial procedure which is needed to be performed in order to
complete any specific project in effective as well as efficient manner. According to the given
case scenario, ABC company which offers food and drink to customers an operating business in
retail sector. It has been analysed from the given case scenario that ABC company is now
planning to expand business by acquiring DEF Ltd. John is a person who has ben assigned with
the responsibility of administrating the project management (Kliem and Ludin, 2019.). It is the
project administration procedure which develops interrelationship between different tasks as
well as processes. The different activities which will be required to be performed by project
manager for administrating the specific undertaking are:
Project initiation : It is considered to as the initial phase in project management. This is a stage
where all the tasks related to winning a specific project takes place. Pre- sale is one of the
important activity which project manager that is John is required to perform in order to manage
the project (Fleming,2019,). It is at the time of pre- sale period, the service provider is required
6

to prove the its eligibility as well as capabilities to complete the project on time. Project
initiation is the phase where project manager that is john on behalf of ABC Ltd. Is required to
prove that an organisation has ability to undertake specific project. At the project initiation
phase, John need to gather all the requirements of customers and analysed the same. It is a stage
where John that is project manager can facilitate negotiation related to changing certain terms
as well as conditions.
Project planning: This is a phase, where project manager need to concentrate more on the
activities which are being performed during the project. It is stage when John is required to
develop project plan covering various aspects of undertaking like timeline, budget, scope etc.
Resources allocation is the activity which is also being performed at this stage (Heldman, 2018).
Project execution: It is a stage hen finally the project is implemented by project manager. At
this phase , project manager that is John can utilise project schedule for tracking the progress of
undertaking (Rendon and Snider, 2019). The activity which project manager is required to be
performed is that they need to submit daily reports to the seniors level management. At this
stage, the activity which is required to performed by project manager include to analyse the
financial requirements for budget . In addition to this, the project manager need to control the
expenditures throughout implementation of project.
Control and validation : At this stage, the project manager need to control the activities.
Quality assurance, test or project plan can be utilised for controlling the different tasks as well as
administrating undertaking.
Close out and evaluation : Closure of tasks and evaluation procedure is required to be
performed by the project manager at this phase.
Skills and competencies required by Project manager
An individual in order to manage large project required to poses special knowledge,
skills and competencies. In context of given case scenario of ABC Ltd, as acquisition is quite
major a swell as quite complex project, John who is project manager need to develop following
skills as well as competencies these are :
Leadership skills: As project manager is not only responsible for completing the particular
project on time but they are also accountable for leading a group of people so that desired target
could be accomplished. It is the skills which is required to be poses by project manager as
7

specific ability will help them in positively influencing people to improve their performance and
make significant contribution in achievement of desired project goals. In context of given case
scenario, it is required by project manager that is John to adopt the leadership style according to
personality. Leadership skills will provide project manager an ease in managing people that is
important in order to complete specific project in systematic manner.
Communication skills : An effective communication skills is required to be developed by
project manager for providing the clear instruction as well as guidance to team members
(Kerzner,2018). It is an effective communication skills which will enable project manager to
develop strong relationship with team members which is very much essential for smooth
execution of the project.
Negotiation skills: Negotiation skills which assist project manager in resolving the disputes
which might take place between customers or company related to the terms or conditions related
to the project. In relation to project management procedure, at the project initiation procedure,
where the requirement is provided by clients, at that time project manager requires negotiation
skills for facilitating negotiation with customer to reduce their requirements.
Scheduling: : It is essential for project manager to have specialised knowledge of creating a
schedule. Particular project can be completed within specified time period only with the help of
Project schedule (Tonchia, 2018.). Project scheduling is considered to be as one of the important
activity which is required to be performed by project manager.
Risk management skills: The main job of project manager is to address the issues which might
arise in the project. It is the risk management skills which will provide project manager an ease
in managing the threats which could haver adverse effect or influence on project outcomes.
Critical thinking : This is a skill which is required by project manger for analysing as well as
evaluating the problems. It will assist project manager in finding the innovative solutions which
can be applied for solving the issues which have occurred during project.
Technical skills : It is very much important for John to develop the technological skills, as this
abilities will provide them an ease in administrating as well as controlling the different activities
in relation to big projects like acquisitions. Technical skills will also provide provide project
manager an ease in tracking the progress of different task.
8

Project life cycle stages
Project life cycle can be referred to as serial of different tasks which are very much
important to be performed for accomplishment of desired goals. There are four stages which are
highlighted in the project life cycle. In context of given case scenario, As ABC Ltd is planning
to Acquire DEF Ltd company, the four stages which acquisition project will undergo are :
 Initiation stage: It is basically a primary procedure of starting a particular project. This
phase involves determinations of aims and objectives which are to be achieved by
implementation of particular project. At this stage of project life cycle two main tasks are
performed by project manager these are formulation of project charter as well as
identification of stakeholders (Project Management Life Cycle, 2019.). Project charter
contains all essential components of project these are targets, milestones, list of
stakeholders etc. It is a stage where the series of activities to be performed during the
project is also determined by project manager.
 Planning stage: It is quite lengthy procedure in project life cycle. This is a stage in
project life cycle where the scope of project is determined and goals for the project are
being established by project manager. In addition to this, the different policies, processes
and strategies are designed by project manager in order to control the project schedule.
The resources or input needed at this phase include project charter, project management
plan, environmental factors and organisational procedure assets. The output of the
planning phase in project life cycle is scheduled management plan. It is stage in project
life cycle when project manager is required to determine the resources needed for
implementation of specific project. In addition to this, duration of the different activities
to be performed is also done by project manager. And on the basis of the same project
schedule is being prepared (Project Management Processes, 2019.). It is very much
crucial for John that is project manager while developing the project schedule to consider
three factors these are duration of activities, dependencies of tasks and constraints.
 Execution stage: After finishing all the necessary paperworks and getting approval, the
plan for project is actually implemented i.e. executed. At this stage, every team member
begins performing the roles and duties that they are assigned and actual works begins to
take place. The project manager gives regular update to the senior staff and managers or
9

client getting their approval regarding the work that is being performed. John, at the
execution stage should emphasize that deadlines are met and targets are achieved
successfully. These are then reported to the senior management of ABC regularly so that
they can keep track of the activities.
 Monitoring, Controlling and Closure Phase: This is the next phase which gives
importance on regular monitoring of the activities undertaken and implementing proper
tools for improvement (Project Management Life Cycle, 2019). Using different
techniques, the project manager ensures that project is meeting relevant standards and
quality is not compromised with. After getting approval or validation form relevant
authority, project ultimately comes to the stage of closure. John, needs to assure senior
management that he understands the importance of this acquisition and is capable of
using appropriate techniques which should be detailed in his report.
Leadership, administration and control issues in relation to administration of life cycle of big
project.
There are many leadership issues that arise in implementation of big projects:-
 At the Initiation stage, giving suitable roles to team members i.e. identifying different
capabilities of all the team members and tasking them accordingly so that project can be
completed efficiently.
 Dynamic and changing conditions of the market impact team members negatively and
they loose the motivation to keep working with same enthusiasm. It is extremely
challenging for leaders to keep their team members dedicated and focused.
 If something goes wrong, instead of blaming a team member, it is leader that should take
blame for the mistake and this is not an easy task because if team members find their
leader to be dedicated, they will automatically work harder.
Apart form leadership issues, various administration issues that might arise are:-
 Communication problems initially might seem more of a team level problem, but which
carrying out big projects it is extremely important to have fully developed channels for
communication with senior management as well as with managers of different
departments i.e. both horizontally and vertically.
10

 There are many internal issues like poorly managed internal resources, inappropriate
budget estimations, time-frame issues etc. which can lead to failure of the entire project
and incur huge losses (Hornstein, 2015).
 Stakeholder engagement is another important administrative aspect that needs to
considered. Team members, CEO, vendors etc. are various stakeholders who should
approve of the activities and be interested in the project so that it can be done
successfully.
And lastly, there are many control issues too that arise when implementing a big project:-
 When there is lack of any accountability i.e. when there is no distinction related to what
work has been performed by which team member or how much work has been done, then
it often leads to team members blaming each other when things go wrong (Sánchez,
2015). The project manager should categorize role of each member and develop proper
mechanisms for categorizing the work performed.
 At different stages of project management, it is extremely necessary to ascertain that
costs and expenditure is in sync with the intended or estimated costs so that all the
aspects related to the requirement can be met.
 There should be a proper hierarchy regarding who will report to whom and thus there
should be transparency in the activities where each team member along with their leader
or manager is accountable for their work done.
CONCLUSION
This report concludes that in order to successfully complete a project, there are many
aspects that need to be considered before completion of the project. There are various models
like WBS, Gantt Chart etc. that need to be applied and different monitoring and evaluation
practices. In this report, the technical, financial and human related approach in the Project
Management has been discussed. This report also presented a case study analysis which detailed
the entire procedure, activities, skills and expertise required and issues that might arise while
implementation of a long term project.
11

REFERENCES
Books and Journals
Fleming, Q.W., 2019, January. Project procurement management: contracting, subcontracting,
teaming. Project Management Institute.
Heldman, K., 2018. Project management jumpstart. John Wiley & Sons.
Hornstein, H.A., 2015. The integration of project management and organizational change
management is now a necessity. International Journal of Project Management. 33(2). pp.291-
298.
Huang, W., 2019. Developing a Better Planning, Budgeting, and Accounting System. In Built on
Value (pp. 303-328). Palgrave Macmillan, Singapore.
Kerzner, H., 2017. Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.
Kerzner, H., 2018. Project management best practices: Achieving global excellence. John Wiley
& Sons.
Kliem, R.L. and Ludin, I.S., 2019. Reducing project risk. Routledge.
Posavac, E.J., 2015. Program evaluation: Methods and case studies. Routledge.
Rendon, R.G. and Snider, K.F., 2019. Management of defense acquisition projects. American
Institute of Aeronautics and Astronautics, Inc..
Russell, J., Pferdehirt, W. and Nelson, J., 2018. Project Initiation, Scope, and Structure.
Technical Project Management in Living and Geometric Order.
Sánchez, M.A., 2015. Integrating sustainability issues into project management. Journal of
Cleaner Production. 96. pp.319-330.
Tonchia, S., 2018. Project Strategy Management. In Industrial Project Management (pp. 81-92).
Springer, Berlin, Heidelberg.
Weninger, C. and Huemann, M., 2015. Project Initiation.
Online
Project Management Life Cycle. 2019. [ONLINE]. Available
through:<https://www.guru99.com/initiation-phase-project-management-life-cycle.html>.
12

Project Management Processes .2019. [ONLINE]. Available
through:<https://www.tutorialspoint.com/management_concepts/project_management_pro
cesses.htm> .
13

14

15