Project Management Life Cycle Essay - Desklib
Added on 2020-06-03
11 Pages2622 Words829 Views
Leadership Management
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Describe and discussdifferent phases of theproject life cycle
Table of ContentsINTRODUCTION...........................................................................................................................1Project management life cycle....................................................................................................1CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7
INTRODUCTIONIn today's corporate world number of companies are involving in launching new oradvanced project in order to generate maximum revenue by satisfying needs of customers(Meredith and Mantel Jr, 2011). Thus, companies is following an appropriate cycle of projectmanagement for attaining their specific target or goals. Maybelline is one of the leadingorganization in cosmetic industry whose main motive is to facilitate society with outstandingbeauty products for enhancing their look such as; currently company is engaged in introducingnew project that is “Girl Project”. Therefore, assignment is going to highlight an appropriatephases of managing specific project by attaining company goals or target in a minimum duration.Quality management plan, need of update and training for employees is also outlining thisassignment. Project management life cycleCorporate world is adopting number of tools, techniques and follow suitable stages toattain their set standards by gaining trust or loyalty of maximum customers. Therefore,Maybelline is following appropriate phases while launching any new project at globalmarketplace because it helps an enterprise in controlling the probability of mistakes (Verbraeckand et. al., 2011). However, it is not easy to handle a single assignment without following anecessary phases due to fluctuation in several other factors that are having a greater connectionwith success of a project. Mainly, it consist of four significant phases which is described asfollows:- Initiation :- Initially, company is going to identify the business issue or any opportunityfor bringing a new idea either for overcoming specific problem or to grab certain chance ofgrowth. Thus, suitable response required to documented in an organizational case with suggestedalternative of solutions. Furthermore, deep study is conducted in order to determine whether theproject is beneficial for enterprise or not. Along with this proper justification needs to be given.After that, if suggested idea get approved by staff members then skilled or experienced managerneeds to appointed by board of directors. Hence, its time to move towards planning phase fortaking further actions in order to implement that idea (McKone and et. al., 2014). For example;Maybelline was searching various issues faced by girls for their looks thus management team offirm is now trying to focus on females. 1
Planning:- After taking initiative now company is concentrating on their planning stagesby considering relevant facts or figures in order to minimize the possibilities of mistakes, errorsor financial loss. Basically, in this phase managers are trying to accomplish all the task oractivities in defined time frame. In fact, another name of this stage is that it also consider as a“scope management”. Beside this, project manager is liable for designing a blueprint whichconsist of required budget for specific project of Maybelline that is “Girl project”, strategy, timeduration, job role of staff members and so on. Mainly, budget was prepared for monitoring orcontrolling prices and expenses that is going incurred during implementation process. It means,company needs to fulfils three main fundamental process that is ; designing of schedule, estimatethe expenditure and determine the certain work. Lastly, an effective document needs to beplanned in detail form like ; quality planning, offering standard targets, assurance, measuring aswell as consent plan by expressing the criteria that must be met for acquiring customeracceptance. Execution:- In this third stage of management cycle managerial team needs to implementprojected plan in order to encourage employees to start working on specific project. However, itis highly indispensable to maintain the environment by controlling things as well as establish aneffective communication which is requires during implementation process. However, success ismonitored on regular basis in order to do appropriate adjustments at the time of need. Basically,while managing an assignment managers requires to pay full attention on this phase forminimizing possibilities of mistakes (Kerzner and Kerzner, 2017). Thus, during execution phaseemployees are involving in performing assigned task or activities through which informationmust be gathered and reported by regular meetings. Hence, head department is followingacquired data about employees performance while comparing actual presentation with projectedplan in order to take necessary steps and immediate actions for controlling unusual wastage. Closure :- Last but not least its time to transfer the product to the consumers by releasingthe specific project as well as needs to discuss with every members of an association likeemployees, stakeholders, board members and so on while closure of project. It means in thisphase final analysis is conducting for attaining aims and objective of project. For example; “Girlproject” is a an outstanding assignment that is introduced by Maybelline whose main objectiveis to promote country to focus on girl's education which the deserves. Thus, managers of this2
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