Rewrite Essay Example | Topics and Well Written Essays - 1250 words

Rewrite - Essay ExampleIf projects atomic number 18 mismanaged, they may result in high rates of turnover, ineffectiveness, poor productivity and low morale. A project is a process with different phases that are collectively referred to as the project life cycle. Different from business activities such(prenominal) as maintenance and operations, projects involve uncertainty and risk because of their unique nature, their complexity, cost and time constraints, as wellhead as limited resources. This paper seeks to discuss the various phases of project management and its importance for organizations. Phases of travail sustenance Cycle The project life cycle can be defined as a uniform sequence of events meant to achieve the goals and objectives of the project. Despite the complexity or scope of any project, it goes via a series of phases in its lifetime. The first phase is known as the initiation phase, followed by the planning phase, accordingly the execution phase, and at last t he closure phase. 1. Initiation Phase In this phase, the projects phase is defined, as well as the approach that will be taken in rear to deliver on the desired end product (Keller & Field, 2012). The project manager is elected in this phase, after which he selects other team members taking into stipulation their experience and skill. In this phase, the most common methodologies used are project charter, project framework, business plan, apology of the business case, and review of the milestones. The needs and objectives of the project are identified in this phase, and an appropriate response to this is document with recommended options as solutions in the business case (Keller & Field, 2012). A feasibility study is carried out in order to investigate if every option addresses the objectives of the project, with a final solution being recommended. Issues of justification and feasibility are addressed in this phase. On approval of the recommended solution, the project is initiate d in order to deliver on the solutions that perplex been approved. The major deliverables, as well as the participating work teams, are identified. At this stage, the team begins to ferment up, and the project manager then seeks approval to start on the planning phase. 2. Planning Phase Project managements second phase is also the planning phase where the solution for the project is positive further while focusing on detail. The necessary steps needed to complete the objective tog out by the project are then set out (Keller & Field, 2012). During this step, the team members identify tout ensemble the activities, which should be executed. There is also identification of tasks within the project and the strategy to be used in their fulfillment. This process is synonymously known as scope management. A plan for the project is drawn up including the timeframes, dependencies, tasks and activities. A project manager is tasked with coordinating the budget via the provision of cost est imates for materials and labor. The budget that is drawn up is used control and monitor cost expenditures during the execution phase. On identifying the work, preparing the schedule and making an estimate of the cost, then the fundamental components of this phase are complete. This phase acts as the excellent time for identification and dealing with threats to