Project Management Life Cycle
A project management life cycle is more than just another way of doing business, but a particular path that is already documented. For each new phase and process, there is already in place a documented procedure to follow.
Specifically, the project management life cycle path takes into account all known activities that any project might be involved with while being undertaken in its course from initiation to a successful conclusion. Most planners are aware of the initiation phase of a project. This is where the idea and the feasibility of said ideas are studied. This is also the section where the main objectives of the project are documented by the stakeholders to guide the rest of the project on which course of action should be taken.
The planning stage of the project management life cycle is also well known by anyone involved in a project. This is where the project manager takes the information that the stakeholders have set forth and they device a path to achieving it. This is where project management templates are very useful. This kind of software program helps the project managers document the necessary processes that need to be done faster and easier than with any other type of programming.
The execution of the planning is where problems set in. This is where the unconceived issues and risks impact the project. If all 52+ templates in the project management program are used, these items that are impacting the project should have a documented procedure to mitigating their severity on the project. This is just part of the project management life cycle that needs to be addressed. If the procedures are not in place, the manager must create them to deal with the particular situation that is encountered.
The conclusion is the best part of the project management life cycle. This is where the goals and objectives of the stakeholders are realized in a productive manner. Success of a project has many contributing factors, but the proper planning has the biggest influence on achieving it consistently.