C722 WGU Phases of the Project Life Cycle Module 11

C722 WGU Phases of the Project Life Cycle Module 11 Leave the first rating Students also studied Terms in this set (35) Social SciencesBusinessBusiness management Save Project Management C722 185 terms blankenship226 Preview D196- Principles of Financial and Ma...206 terms shannon_turner16 Preview C722 Project Management (highligh...199 terms dra5150Preview 13 - Pro 74 terms nom Project Life Cycle PhasesDefining, Planning, Executing and Closing. This is a high level view of project managment.DefiningThe defining phase begins when an idea for a project is identified. During the defining phase, there will likely be few people involved in the initial development of the project proposal and the evaluation of which projects will be undertaken.At this time of the project, the relationship with the customer begins to be defined and a project charter or contract for the project begins to be formulated. This phase ends when the decision to reject or accept the project proposal and if approved, the project sponsor will approve the project charter.PlanningAs the project moves into the planning phase, subject matter experts may be added to the project team in order to carefully plan and budget the activities that will need to be completed. Stakeholders and team identifies the work activities necessary to produce the project deliverables. A Work Breakdown Structure is developed The planning phase ends when the approval of the project scope, budget, and schedule are approved.

ExecutingIn the execution phase large numbers of people may be added to the project in order to complete the work.. The real work to complete the project. Team uses the plan to produce the project outcomes. The project executing phase is when the PM and the project team roll up their sleeves and complete the work activities identified in the project plan: This is when planning, executing, monitoring and controlling, and closing processes will be completed. The procurement people will use the procurement management plan to begin acquiring external materials or services needed for the project. The human resources management plan will guide the PM in how to select team members, and then provide them with a project orientation and training. Project team members will begin completing activities that either create the project outcomes or will be related to the various planning areas (communication, quality, stakeholder management, etc.) to ensure that the project is delivered as planned..ClostingIn the final closing phase, the team members will have completed the major work and a smaller team may remain to turn the results over to the customer.Project ScopeThe project scope is a written statement summarizing the work that will be completed to provide a project outcome that will meet the customer and/or sponsor's requirements. Once the initial project scope is agreed upon, the project team will use it to focus their planning efforts, so it needs to be comprehensive enough that the team understands the requirements and how they can be achieved. Only then can they do work breakdown and divide up the work and create a realistic budget and schedule.Project JustificationThe project justification is a statement explaining the business need for the project. This is sometimes referred to as the business case. The project justification helps tie the project back to the strategic and operational goals of the company and its mission. If a company wants to increase its revenue by 15% next year, a project proposal may be justified by its potential contribution to that revenue goal.Project SponsorThe person in the project organization who has authority to expend resources for projects will likely be the project sponsor Project CharterThe project sponsor will sign the project charter, which summarizes all of the key information about the project and authorizes the project manager to assemble the team and begin detailed planning. The issuance of the project charter officially ends the defining phase of the project life cycle.Iterative ProcessesWhen a project is broken down in phases,where each full phase of a project is a deliverable and a decision will be made to continue to the next phase or scrap the project. The decision point is called a phase-gate. Each phase will include defining, planning, executing, and closing of a standalone project.Monitoring & ControllingDuring the monitoring process, if the PM detects that the project is not being executed as planned, she may need to intercede in order to correct the situation.We call this process, monitoring and controlling. Some major ares for monitoring include cost, schedule, scope, and quality.Integration Management Plan (PMBOK)Documents how the various processes and planning areas will be kept in sync throughout the project life cycle.

Scope Management Plan (PMBOK)Documents how the scope will be initially developed, maintained during project execution, and verified at project closure.Risk Management Plan (PMBOK)Documents how risk events will be identified in advance, monitored, potentially mitigated, and managed across the project life cycle.Procurement Management Plan (PMBOK)Identifies how the project team will acquire products and services from outside organizations.Communications Management Plan (PMBOK)Documents which information will be communicated, when it will be communicated, how it will be communicated, and to whom.Human Resource Management Plan (PMBOK)Defines the roles, skills, and knowledge needed by project team members.Identifies when the human resource will be needed and how the person will be identified, trained, and integrated with the team.Stakeholder Management Plan (PMBOK)Explains how stakeholders will be identified along with their level of interest in the project and influence over the project. This is closely tied to the communications plan since stakeholders will need varying levels and frequency of information.Quality Management Plan (PMBOK)Documents how the quality of the project deliverables will be measured and what steps will be taken to monitor and assure that the quality meets the customer requirement.Cost Management Plan (PMBOK)Explains how costs will be estimated, monitored, controlled during the project.Time Management Plan (PMBOK)Explains how the schedule will be developed, monitored and controlled.Configuration Management Plan (PMBOK)Documents how the project team and stakeholders will keep track of the versions of project documents to ensure that the most up-to-date document is in use.Change Management Plan (PMBOK)Documents how changes to the project outcomes will be managed, approved, implemented, and monitored.Process Improvement Plan (PMBOK)Describes how the processes and procedures used on the project will be evaluated to ensure that the most efficient methods are implemented.Requirements Management Plan (PMBOK)Documents how the customer and stakeholder requirements will be identified, integrated to the project scope, tracked throughout the project, and verified at closure.Lesson LearnedThe lessons learned are gathered and documented during the closing phase of the project life cycle. Lessons learned are then shared with the project organization to aid in the development and success of future projects.Project Outcomescan be both tangible or intangible DeliverablesIntermediate outcomes from work activities.

PM to do at closeoutVerify that the completed project is transitioned over to the customer.Document the project results. Reassign project resources back to the company SMART GoalsSpecific, Measurable, Achievable, Relevant, Time Based. These are key motivators for controlling costs, improving productivity, and achieving business results.SpecificExactly what are you attempting to achieve?MeasurableCan you assign a number? Is a result quantifiable?AchievableIs the possible with resources (including financial) and technology available?RelevantDoes it makes sense? Does it fit with the organizations strategic goals?Time-basedIs the date when it needs to be completed?