The Project Life Cycle
The project life cycle is the performing organization's approach for managing a project. It is the analytical breakdown of what a project manager must do to create project deliverables. The project life cycle is determined based on the following factors:
Type of product being developed
Type of industry
Organizational preferences
A project life cycle is the progression of phases that a project goes through from conception to completion. It delivers the basic framework for managing the project, and the basic framework applies to the specific project work involved.
Project life cycles can be either:
Predictive
Adaptive
(learn more click here)
Within a project life cycle, there are typically one or additional phases affiliated with developing the product, service or result. These are referred to as the development life cycle and can be either:
Predictive
Iterative
Incremental
Adaptive
Hybrid Model
In a predictive life cycle (aka waterfall life cycle), project scope, time and cost are specified in the initial stages of the life cycle. Any modifications to the scope are carefully managed.
In an iterative life cycle, the project scope is commonly defined early in the project life cycle, but time and cost estimates are repeatedly adjusted as the project team's knowledge of the product expands. Iterations originate from the product through repeated cycles, which incrementally add to the product's functionality.
In an incremental life cycle, the deliverable is made through a series of iterations that successively add functionality within a predetermined period of time. The deliverable is considered completed only after one iteration.
Adaptive life cycles (aka agile or change-driven) are agile, iterative or incremental. The detailed scope is determined and authorized before the beginning of an iteration.
A hybrid life cycle is a combination of predictive and adaptive life cycles. Those features of the project that are well known or have fixed prerequisites follow a predictive development life cycle, and those still developing elements follow an adaptive developmental life cycle.
The project management team chooses the best life cycle for each project. The project life cycle must be adept enough to deal with various factors contained in the project. The project life cycle should be sufficiently adaptable to deal with the combination of elements included in the project. Life cycle malleability can be achieved by:
Identifying the process or processes needed to be performed in each phase
Completing the process or strategies identified in the appropriate phase
Adjusting the various attributes of a phase (eg. name, duration, exit criteria and entrance criteria)
Project life cycles are independent of product life cycles. The product life cycle consists of a series of phases that depict a product's development from concept through delivery, growth, maturity, and retirement.
Thank you for visiting Hatchett Project.
Be sure to check out our other project management posts and videos.
