Project Life Cycle Of The Chase Retail Complex Project

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Part A: Project Life Cycle Analysis There are four phases in the project life cycle: Initiation, Planning, Implementation, and project Closeout. In the Initiation stage, needs, problems, and opportunities are identified. In this phase, objectives of the project are stated, and ideas to address the problems is developed. In the initiation phase of the Chase Retail Complex project, the opportunity to construct a retail complex is identified, Chase Opportunity has a vision to construct four 10,000 square foot structures. This retail complex will generate adequate revenue to justify the expenditure of the project. This phase additionally involves recruitment of essential personnel such as the project manager, in which Chase has selected me as…show more content…
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. Part B: Work Breakdown Structure The Work Breakdown Structure (WBS) breaks a project into manageable items. The WBS identifies all work elements needed to complete the project work scope. The WBS is a hierarchical tree where project is subdivided into smaller pieces called work items. The lowest level item of

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