The project life cycle is a helpful way to think about a project: there’s a beginning, middle, and end. The beginning is all about planning, the middle is about the execution, and the end is the delivery and reviewing of what went well and what didn’t.
Understanding the project life cycle is an important part of project management. It defines the stages a project goes through from the start till completion. It also provides a framework and guidance for proper execution.
Learn how you can maximize your project success by understanding the different phases of the project life cycle. This blog has everything you need to master the project life cycle, no matter how big or small your project is.
The project management life cycle is a structured and sequential framework that guides the execution of a project from the beginning to the end. If you want a dictionary definition, then the Project Management Book of Knowledge (PMBOK) defines the project life cycle as “the series of phases that a project passes through from its initiation to its closure.”
The life cycle consists of 5 phases:
The components that go within a project management life cycle are:
It’s important to remember that while a project life cycle provides structure, it also has enough room for flexibility and adaptability to the changing requirements or conditions. This allows you to respond appropriately to unexpected challenges.
The project life cycle provides a structured approach to managing a project from start to finish. What does this look like in the real world? Clearer roles and responsibilities, streamlined communication channels, more accountability, and a higher number of successful projects. Fewer balls are dropped and fewer mistakes are made.
When we think of project life cycles, the most common model is a linear one that takes a project from point A to point B. However, that’s not the only type of model a team can implement for project lifecycles.
Let’s learn about the different types of project life cycles.
The Project Management Institute describes the predictive or waterfall lifecycle as the one where every nuance, such as objectives, budget, and tasks, is planned in the beginning. The philosophy of this project lifecycle is to “plan the work and then do the plan.”
Also, the phrases in this traditional life cycle are generally more sequential, with some to minimal overlaps. The work completed in each phase is distinct from each other. The purpose of accounting for everything in the beginning and then working to execute as per plan is to minimize any deviation.
The advantage of the traditional life cycle is that it’s easy to follow, execute, and replicate. This type of planning is ideal for smaller projects that don’t have multiple variables or a high level of complexity.Manufacturing of cars or electronics easily fits into the waterfall life cycle. All the specs and goals of the product are decided in the beginning and the process is developed to meet those targets.
The disadvantage of this life cycle is that it hampers one’s ability to adapt to any changes in conditions without ongoing major rework. This rework generally takes up a lot of time, cost, and effort.
A more flexible approach to the traditional life cycle is the iterative cycle. Even this cycle has 5 phases. However, there is no fixed linear progression. Each stage can be repeated as many times as required till the exit criteria are met. For instance, a team can move between the design and development part of an app development project several times till it satisfies the exit stage requirements.
Some find it helpful to think of the iterative phases as a series of mini waterfalls. This type of framework is ideal for small projects that have a clear project scope. Feedback from each stage is incorporated and the planning process occurs continuously.
The adaptive or agile life cycle has a more flexible or changeable approach to project management. In this model, customer feedback and inputs are the key to successful projects. Also, in the agile or change-driven model, all the stages may not have a clear start and end point. The phases also aren’t necessarily linear. This is because there is a heavy dependency on customer feedback before one can progress forward.
This model of project life cycle is best for complex projects that have a clear project outcome, but some requirements are ambiguous. A challenge of adopting this model is that not all customers will want to be involved at such a deep level. Sometimes, it might not be possible or practical for them to participate at a high level.
The last type of project life cycle is a hybrid life cycle. You might have guessed from the name that this approach is a combination of all previous project management styles. The project manager or team decides which model should be used or whether to take certain parts of each module and apply them.
Selecting the right framework for a project goes a long way in delivering the right result.
The PMBOK states that the five stages of a project life cycle take a project idea and turn it into a viable product or service. The five distinct phases are initiation, planning, execution, monitoring, and closure.
We look into each phase in more detail.
Do remember that not all projects will necessarily go through all five stages. For instance, if there is a time-sensitive project, the manager might opt for a four-step process over the traditional five. A more complex project, like setting up a new hospital wing, might follow the five-step methodology because it offers more detail and depth.
The first stage is all about kicking things off. This is the time when you get details of the project from all relevant stakeholders. The objective of this phase is to:
The initiation phase also involves doing some studies and research — a feasibility study and a risk assessment. The feasibility study will tell if the project is viable, while the risk assessment will help managers understand liabilities and develop mitigation strategies.
There is also the creation of a project charter during this stage. A project charter is a document that outlines the project scope, purpose, objectives, and initial timeline. The charter is a formal document that gives the manager the green light to move forward with the project.
Without completing the initiation step, your project will be prone to grave errors like inaccurate goals or forgetting to involve key stakeholders.
You are a recruiting firm hired by an aeronautical parts manufacturer. The initiation phase will involve a call with the hiring authorities of the manufacturer. They will explain their hiring needs and give details on what they expect from the ideal candidates. The call will go over things such as salary (budget) and the timeframe they need the open positions filled.
During this second stage, you are going to create the master blueprint for the project. This phase is akin to drawing a roadmap for the execution of the project. The importance of this step is that it helps you get from idea to final deliverables in an intelligent manner. This stage also adds even more clarity and structure to the project.
Documents or deliverables that are part of this stage are:
Workload planning tools like eRS will make it easier to identify, allocate, and manage resources. The right resource management tools can lead to the identification of bottlenecks (not enough labor available for a task) and keep the project budget in check.
Let’s take an example of an app development project. In the project planning stage, the team will develop a project brief that highlights the app scope, costs, resources to be used, and timeline. Milestones for each testing phase will be included. This brief will be shared with the client and any feedback from them will be incorporated into the plan. Both parties will also agree on how many changes can be made at each stage to ensure the project gets completed on time.
This is where you get to work and start getting things done. It’s the stage where one implements the processes and strategies previously discussed and developed in the planning phase.
In this phase, it’s not just about checking off the to-do list. There needs to be heightened levels of communication and collaboration to ensure the work is being done accurately. A certain amount of control also needs to be there.
During the execution period, certain challenges may arise and the project train can get derailed:
Prompt communication and collaboration and defined work processes and risk mitigation plans will help overcome these obstacles.
In this phase, tasks will be assigned and completed by resources, and progress and quality reports will be generated. Client review meetings will also be held.
To master this stage, here are a few tips:
Let’s refer back to the app development project for this example. In this stage, the designers will develop the app outline. Once that milestone or checkpoint is crossed, the developers will do the actual coding for the app and develop mock-ups for feedback.
This stage makes sure that the project train stays on the tracks. But it also happens alongside the execution stage. For this stage, performance metrics (KPIs), on budget, resource utilization, and time taken per task vs. estimated time.
The main outcomes of this step are:
The previously created documentation, like risk management plans or budgets, will need to be consistently referenced. Also, some plans will need to be updated. For example, the project logbook needs to include all errors and changes.
To ensure one is monitoring the project efficiently, use the following methods:
This would be the stage when a software or an app goes into testing. Issues will be logged in a document and then the designers and developers will go back and rectify the bugs. Project managers will consistently view reports to see project progress and how resources are spending their time.
Yes, you’ve reached the end of the project (yay!) but that doesn’t mean this phase is just about getting the payment check from the customer. The closure stage is just as important as the other steps.
In addition to handing over the final project, you may hand over collated documentation or guides/resources about the project. Internal project documents have to be archived properly for easy reference.
This stage is also about reflecting on the project and the lessons learnt. What went well? What needs improvement? This can be documented in a Project Closeout Report.
Many organizations also generate an Impact Report that includes metrics which highlight how the project made a difference to the clients and other stakeholders.
Also, don’t forget to celebrate the completion of a project. Any project requires hard work and not appreciating the work can lead to employee dissatisfaction. So order food for the team and let off some steam.
Let’s say you have created an electronic product. The closure phase would be giving the final product to the client. You would also provide them with any training material or how-to-use guides that they will need. The clients may also require a copy of the design and detailed specifications of the product. After getting the final sign-off from the client, your team will meet to share their thoughts on the project.
Here’s a thorough, complex example of a project and what each stage would look like in the project management life cycle:
Initiation: Meeting with authorities or government bodies to understand the requirements of the metro project. Learn about the key stakeholders.
Planning: The project charter will be created. It will include a detailed timeline and proposed budget. Also include details such as which stations will the metro line cross, what will be the route, and which materials will be used during construction. A list of resources required will be developed. The government bodies will provide feedback on the initial project plan. The feedback will be incorporated and the final project charter will be signed off on.
Execution: All the necessary approval will be secured and then the construction of the line will begin.
Control and Monitoring: Checking the costs of the metro line development against the approved budget. Also, using a staff management system to ensure the resources are utilized efficiently and there is no gap in resources or materials.
Closure: Hand over the completed metro line to the government, alongside all technical and safety protocols. As this is a complex project, the closure phase could also involve training sessions for those who’d be managing the metro line daily.
We spoke to the experts and are sharing some insightful tips on how to get the most out of your project life cycle.
Just a quick reminder that mastering all aspects of a project life cycle is an ongoing process. As one gains more experience and utilizes appropriate tools, the life cycle can continue to get optimized.
eRS is a flexible, AI-powered, cloud-based resource management system that seamlessly fits into any stage of the project life cycle. The tool has all the required employee management features that will help you master your project life cycle.
eRS provides the following capabilities to optimize your project life cycle:
Furthermore, these features align with the five stages of the project life cycle. For instance, the calendar or timesheet feature can be used to identify the availability of stakeholders to hold an initiation meeting. Next, the search engine can be utilized in the planning phase to identify resources. The tasks can be assigned during the execution phase and software can be used to monitor and control the progress. Finally, the stored data can be used in the closure stage to generate learning and takeaways for future projects.
eRS will streamline your workflows, improve collaboration and employee engagement, and increase your bottom line. The software easily integrates with other apps and legacy systems. It provides real-time insights that will increase employee productivity. Take advantage of eRS!
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