Entrepreneurship Development Life Cycle

In order for an organization to remain successful, it must be able to fulfill its day-to-day operations without mistakes. If these demands cannot be met, a new project must be created in order to stay in business and ahead of the competition. If an organization has a problem, they can benefit from fixing it by following a formal process for identifying, selecting, initiating, and planning projects (Valacich, 2009).

Before approaching the project objectives, one must first understand a little background on the project. What is this company? Software Solutions started in Idaho as a small company, family owned. Through the 1980s, the company was able to provide reliable software solutions to its customers, creating one of the first user-friendly inventory tracking software solutions to the farmers. Each year, the need for this great inventory tracking software increased. Subsequently, new versions released each year. The company expanded its database software customizable to each of the users. The company was growing so fast that no longer

Discussion Question: Project Life Cycle. The four main elements of the project life cycle are defining, planning, executing and closing. Give an example of a task you performed on a project, either as a leader or team member, and identify what stage of the life cycle it was in and why. Describe if you felt the task was strategically important to the project and also the company. Respond to at least two of your classmates’ postings.

The conclusive chapter of the project lifecycle is Closeout the project. When the project is finalized, it is handed over to the project sponsor along with the documentation. In this phase, contracts with suppliers are terminated, all dues are cleared, and closure of a project is communicated to all stakeholders. This phase also includes post-completion meeting. This meeting is conducted to evaluate the performance of the project through obtaining feedback from customers, and project team. This way, we can learn how they can improve if we must carry out a similar project in the future. (Gido & Clements, 2015) The project evaluation will also reveal the customer satisfaction level and whether the project met customer’s satisfaction. After the project is completed, all resources are released. In this phase of the Chase Retail Complex project, the project manager will hand over the retail complex to the project sponsor, and provide all documentations. He will release resources, take feedback from stakeholders, and document the learnings from this project.

Evaluate the importance of understanding the various stages of the project life cycle and its possible contributions to a project.

Purpose: The purpose of a project proposal is to determine if a proposed project is

The definition of a project is “a temporary endeavour undertaken to create a unique product or service. Temporary means every project has a definite beginning and an end. Unique means that the product or service is different in some distinguishing way from all other products or services”.(Project Management Institute., 2008)

This project provides you an opportunity to assume a specific role in a business situation. You then apply

Potential product: customers can also get meal plan, prepared their own menus, for example juice bar and a delivery service.

end date of the project would be April 11th, 2013. However, the case states that if the project

2a) We understand that when designing and building a store, layout is everything. Many grocery stores follow basic rules when it comes to layouts that have been shown to maximize customer purchases and revenue: laying out your products in aisles, snacks and baked goods towards the front of the stores for customers to smell when they walk in, and magazines, gum, and other typical impulse purchases near the cash register right before people check out. However, with a younger, hipster audience there is room for some change in order to make the layout as efficient as possible. Perhaps instead of having baked goods directly at the front of the store, managers will instead elect to put a fruit stand as younger shoppers are more likely to go with a healthy choice. Considering that

The nature and scope of a project is determined at the initiation stage. This involves analyzing the business needs, developing goals, budgets, tasks, deliverables, and the stakeholder analysis. The project planning stage determines the planning team, develops the scope, and identifies work breakdown structure and activities that will be needed to complete deliverables. The planning stage also estimates time and cost activities, develop schedule and risk plan, and gain formal approval for work to begin. The executing stage involves all processes used to meet the project requirement and involves managing people and resources. The process that entails the identification of potential problems and

There are four main stages of a project lifecycle: Concept, Planning, Execution and transfer. The concept stage is where you identify the business need for the project. This is where you also establish the feasibility of the project which can include, Program, process, schematics, prelim budget, schedule, project

This Project Schedule will follow a suitable schedule and phases of a project based from the recommendations for a project plan by Harvard Business Review in their 2016 article, The Four Phases of Project Management. These include Planning, Build Up, Implementation and Closeout. Following is

Project lifecycle is the series of activities that are necessary to fulfill the project’s objectives. There are projects of different size or complexity, with different aims and goals, but, in general, all projects have the following structure: