Phases in a Project Life Cycle
The project life cycle represents a sequence of phases that a project takes from the beginning to its end (completion) due to which it achieves the goals and objectives of a project.
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Introduction to a Project, Management & its types and Project Management
The word Project is originally derived from the Latin word “ projectum ”. According to PMI (Project Management Institute, a professional association for project management professionals), it is defined as ‘Project is a temporary endeavor undertaken to create a unique product, service or result’. The temporary nature of the project means that project has definite timing of beginning and end (closure). The end of the project is reached whenever the requirements/objectives of a project have been achieved. Characteristics of a Project: A project has distinct attributes which make it different from ongoing business or daily life operations. Projects are always unique and temporary in nature which means they have starting and end time. The duration of projects can be of minutes to some years depending on the nature of the projects. Unlike projects, business operations are ongoing and repetitive operations that result in common (non-unique) products or services. Following are characteristi