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Project Life Cycle and its Implementation in the Project

19-June-2023

The planning of a project can be arranged by a manager in several phases which are divided based on the project life cycle. Each project must be completed within a limited budget and deadline. The project life cycle can be used to add structure when facilitating the delivery of a new product or marketing campaign.

In general, the phases that occur in a project management chain can help define project roles, increase visibility, and optimize resource use. For this reason, the project life cycle can help facilitate the process that occurs in product development.

What is Project Life Cycle?

The project life cycle is a framework that includes four main phases to help project managers and their team members work from start to finish. The purpose of the project life cycle is to define the project based on the roles and responsibilities of the project manager to the entire team involved.

Depending on the complexity and application, a project may go through several cycles and phases before the final result is reached. Each phase of the project life cycle becomes a way to place deadlines in achieving deliverables. Each phase also represents a specific action that team members need to take in that phase of the project.

Phases in the Project Life Cycle

Each project is unique with existing challenges and issues. However, the structure of the project life cycle basically consists of the same four phases. Each is a general boundary that marks the end of one phase to move on to the next. The following is an example of a phase that illustrates the project life cycle:

1. Initiation phase

During the initiation phase, a project manager and executive need to define a major mission for a project. The project manager can define a new campaign based on directions from the Chief Marketing Officer (CMO) and define it as the project mission.

In the initiation phase, documents are needed that include campaign objectives, project descriptions, success criteria, and the roles and responsibilities of stakeholders. The following are actions that can be taken in the initiation phase:

  • Identify goals and deliverables that must be met, for example building awareness of new products
  • Determine priorities that need to be carried out to achieve goals and also identify potential risks that may occur during the project
  • Take into account the expectations of the managerial side, set the product development timeline, and allocate resources according to the scope of the project

2. Planning Phase

In the planning phase, project stages, the role of the project manager, and the team must focus more on specific tasks, responsibilities and timelines. The project management planning phase includes determining short-term goals and solutions to overcome risks in the execution phase with the following actions:

  • Create a detailed project plan including tasks, deadlines, and the person responsible for the workflow
  • Create project roadmaps and provide information in the form of tasks and achievements with easy-to-understand visualizations such as gantt charts
  • Prepare for project launches that can motivate your team to work to the next stage

3. Execution Phase

During the execution phase, everything discussed and planned during the first two phases will be put into practice. The project manager's role shifted from planning to controlling as the focus of his role was on ensuring proper execution.

Throughout this phase, the project manager also needs to seek approval from stakeholders. In the example of a new product marketing campaign, the manager will share messages and achievements to ensure the campaign is aimed at the target audience to measure satisfaction.

4. Project Closing Phase

In this phase, you will end a specific project or project cycle. All tasks in the project life cycle have been completed. Product launch campaign projects usually only involve one project life cycle. This means that the campaign will be launched and assessed for its performance based on the following stages:

  • Distribute project results to stakeholders according to the agreement. In the campaign case example, the deliverables in question include content, reports, and other project assets
  • Officially close the project by notifying the team that the project is complete and share the appreciation for their efforts by including it in the report or closing session
  • Review and evaluate project performance by seeing how well the project is performing in terms of goals, time frame, resource allocation, and return on investment.

Reviewing the entire process in the project life cycle can provide insight on how to improve in future similar projects. Not only that, the execution of a project can also be monitored more neatly and regularly based on the progress of each phase until the project is completed.

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