The Phases Of The Project Life Cycle

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Through history man has been leading other individuals in order to achieve a target. As Bolles (2002, p. 3) defined, an aim for international market companies is to improve their systems by becoming more competitive in the market. One way to achieve this is through projects that will positively impact the firm. This encourages companies to turn to Project Management to deliver business results (Project Management Institute, 2010, p. 1).Two factors that show whether a project has been successful or not is by being completed within its time restraint and budget. A real life example which proves that point is the Millennium Dome. This building project was on time and to budget (politics.co.uk, 2014). Hence, critically this project was…show more content…
11). The first step in Project Life Cycle is called initiation. During initiation the desired information is gathered, such as the reason why the project is happening, and who will be involved; Afterwards, it has to be ensured that the input has been provided by the stakeholders (Williams, 2008, p. 44). The Empire State Building can be used as a real life case where Empire State Inc. realised that the project was impossible to be done by the existing team (Ghosh and Robson, 2014, p. 4); an expert team was assembled including architects, mechanical engineers, and rental agents. Critically, this approach of collaborative production which involved other experts influenced the project positively by providing more ideas of how to complete the project. Moreover, Phillips et al., (2012, p. 15) defined this first step of the Project Life Cycle as ‘the phase where the project selection takes place’; usually the project managers are not involved in this stage. The authors also wrote that the aspects that are identified through this process are ‘product description, justification, scope, deliverables, duration, resources, financials, and risks’. The Sydney Opera House is a real paradigm that proves the importance of the time duration of a project which is mentioned by Jones (2006, p. 28); It was estimated to be completed in January 1963 with a cost of £3,500,000 ($7 million), yet it was finished a decade later with a cost more than
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