Premium Essay

It Project Cycle

In: Business and Management

Submitted By gombolini
Words 379
Pages 2
|Project Initiation |
|Project Phase |Project Activities |Associated Deliverables |Typical |
| | | |Responsible Parties |
|Commitment |obtain sponsorship, scoping, planning,| commitment doc | Project Sponsor |
| |budgeting, obtaining commitment, |project plan/budget |Working Clients (line managers) |
| |defining roles and responsibilities, |scorecard; metrics |IT Leadership (CIO) |
| |project kickoff |change process |Project Manager |
| | | |Technical Specialists |
|Project Planning |
|Analysis |detailed business requirements | project coordination | Project Manager |
| |gathering; initial involvement of the |business requirements |Bus. Analyst |
| |Quality Assurance and IT Customer |functional requirements |Systems Analyst |
| |Services teams detailed technical and |technical requirements |Working Clients |
| |infrastructure requirements gathering;| |End Users |

Similar Documents

Premium Essay

Project Life Cycle

...The Project Life Cycle The undertaking of a project by an organization can be a tremendous feat for those who are tasked with managing and part-taking in getting the project off the ground, and seeing it to the finish line. But before the project life cycle is discussed, we first have to understand what is defined as a project, its characteristics, and how a project manager reaches to the point of establishing a system that assists them in identifying the progression through the different stages of the project. A project is typically defined as an undertaking that is of a complex nature that is non-routine, a one-time effort and is limited by time, budget constraints, resources, and performance specifications designs to meet the specific needs of the final recipient (Grey & Larson, 2006). A project in its established characteristics possesses a defined life span with a beginning and end date, an established objective, specific time, cost, and performance requirement as mentioned earlier. A project also involves several departments and professionals, and most importantly, doing something that has never been done before. From the characteristics of a project mentioned above, a project life cycle fits with the defined life span of the project and the milestones that needs to be accomplished at different stages while the project is in progress. The project life cycle consists of four different stages which includes the defining or initiation phase, the planning phase,...

Words: 391 - Pages: 2

Premium Essay

What Is Project Cycle Management (Pcm)

...What is Project Cycle Management (PCM)? “Project Cycle Management” is a term used to describe the management activities and decision-making procedures used during the life-cycle of a project1. The image of a ‘project cycle’ assists applicants to understand how to organize their work so that it is based on real needs, is well planned, monitored and evaluated, and allows involved parties to learn from every project to improve their future work. The cycle represents a continuous process in which each stage provides the foundation for the next. The generic project cycle has six phases. In practice, the duration and importance of each phase may vary for different projects. Identification Evaluation Identification Appraisal Evaluation Preparation Preparation Appraisal Implementation and monitoring Proposal preparation, approval , financing Implementation and monitoring Proposal preparation, approval , financing Identification – generation of the initial project idea and preliminary design Preparation – detailed design of the project addressing technical and operational aspects Appraisal – analysis of the project from technical, financial, economic, gender, social, institutional and environmental perspectives Proposal preparation, approval and financing – writing the project proposal, securing approval for implementation and arranging sources of finance Implementation and monitoring – implementation of project activities, with on-going checks on progress and feedback...

Words: 320 - Pages: 2

Premium Essay

Outlining the Stages of the Project Life Cycle

...The outline of the stages of the project life cycle for a selected project – Product launch Introduction In this document I will be outlining the four stages of the project life cycle for a selected project, in this case a product launch. I will also be identifying the importance and purpose of holding an event which can be related to any sort of event as long as it involves people and a project. Purpose of the Event The purpose of the event is a very crucial in regards to holding a successful event. The purpose of the event is related to the nature of the event since it illustrates the reason for the event. In this case, an event centred round the launching of a new product would solely be solely based on just that. Most events are held to raise money or awareness of a new product line. Some events could be to raise money for charity and could also improve customer service. There are various purposes for events, these include the following: * Celebrations (fairs, parades, weddings, reunions, birthdays, anniversaries) * Education (conferences, meetings, graduations) * Promotions (product launches, political rallies, fashion shows) * Commemorations (memorials, civic events) Planning Planning is the first stage of the project life cycle, this is because you cannot say you want to hold an event and do nothing about it, or expect everything to come to fruition just by doing nothing whatsoever. One has to plan for an event way ahead of the event date to......

Words: 1237 - Pages: 5

Premium Essay

The Projet Cycle

...The Project Cycle The project cycle has six stages, each stage links with the preceding one and leads forward to the next one. PCM integrates the stages of the cycle so that issues are examined systematically. This system makes the project concept and context in which it operates clear and visible and therefore enables better monitoring and evaluation. The stages of the project cycle provide a structure that ensures that: • problem analysis is thorough • stakeholders are clearly identified and monitored • quality assurance is built in • objectives are relevant to problems and clearly stated • outputs and objectives are logical and measurable • beneficiaries' strengths and weaknesses have been identified • assumptions are taken into account • monitoring concentrates on verifiable targets and outputs • evaluations identify 'lessons learnt' and integrates them into the cycle for similar succeeding projects • sustainability is defined, not essentially by 'organizational continuity', but primarily by the continuous 'flow of benefits' Project Cycle Management Stages 1. Programme: • review of local social and economic conditions • review of relevant local and central government policies and initiatives • community strategy undertaken and project criteria developed 2. Identification: • definition of a project problem • stakeholder analysis • problem and objective assessment • strategy options explored and decided • quality......

Words: 282 - Pages: 2

Premium Essay

The Project Management Life Cycles

...The Project Management Life Cycles The Project Management Life Cycles It doesn't matter what project you are preparing for, the project management life cycle can assist you and your team in narrowing the project's focus, keeping its objectives in order and finishing the project on time, on budget and with a minimum of headaches. The project management life cycle contains five steps: Initiation, Planning, Execution, Monitoring/Control and Closure. No one step is more important than the other and each step plays a crucial role in getting you started, through all the hurdles, down to the wire and across the closing line. The five process groups are: Initiating, Planning, Executing, Monitoring & Controlling, and Closing. We'll start with Initiation; Initiation: In this first step you provide an overview of the project in addition to the strategy your planning on using in order to achieve the desired results. During the Initiation phase you’ll develop the Project Charter, Identify Stakeholders, appoint a project manager and based on his or her experience and skills, he/she will select the required team members. The processes performed to define a new project or a new phase of an existing project Planning: This second step is extremely important, it should include a detailed breakdown and assignment of each task of your project from beginning to end. The Planning Phase will also include a risk assessment, the scope of the project, refine the objectives and define......

Words: 592 - Pages: 3

Premium Essay

Business Cycle

...CAUSES OF BUSINESS CYCLES Internal Factors: 1. Consumption : When consumer spending increases, businesses will increase production- causing them to hire more workers and purchase more materials and capital goods. When consumer spending decreases, the opposite will occur. 2. Business investment : The purchasing of capital goods increases the number of jobs in the economy because people have to make those goods. If investments increases, the economy will grow, if investment decreases, the economy will contract. 3. Government activity : The government can influence the business cycle through fiscal policy (its tax and spend policies) and monetary policy (its control of the money supply, largely through the federal reserve). External factors 1. Inventions and innovation : Major changes in technology can influence the business cycle. Usually technological changes move the economy in a positive direction, but this is not always so. 2. Wars and political events : The impact of such events on the economy are very fact specific- in other words, difficult to generalize about. Phases of business cycle Expansion/Growth : During this phase of the business cycle, consumer and business spending rise. Unemployment will drop during this phase, which will further aid consumer spending. - During the period of revival or recovery, there are expansions and rise in economic activities. When demand starts rising, production increases and this causes an increase in......

Words: 566 - Pages: 3

Premium Essay

Reson: Making Development Teams Accountable for Short Project Cycles: Case Study

...Term Paper RESON: MAKING DEVELOPMENT TEAMS ACCOUNTABLE FOR SHORT PROJECT CYCLES: Case Study by XXXXX XXXXXX Professor XXXXXX XXXXXX University January 30, 2015 Content Company Background 2 Company’s Structure and Strategies 3 Specific Problems 3 RESON’s shared philosophy 4 Reson: All focus on time 5 Reson: project in 1998 5 Grounded 5 Recommendation 6 Conclusion 8 References 9 RESON: MAKING DEVELOPMENT TEAMS ACCOUNTABLE FOR SHORT PROJECT CYCLES Company Background Reson Company was found in Denmark in 1976. The company...

Words: 3019 - Pages: 13

Premium Essay


...Cash Receipts Cycle Upon the due date, the company collects payment from its clients usually they pick-up the payment every Friday. However, there are instances of special arrangements for collection for specified day of the week. The collector or messenger collects the payment from its clients and issues a duplicated copy of official receipts. The original is given to the clients as its copy. Before the end of the same banking day, the collector/messenger goes to their depository bank, prepares a deposit slip and deposits their collection. The authorized duplicate copy of the deposit slip is then attached to the copy of the duplicate official receipt and turned over to the accounting department. The accounts receivable clerk will reconcile the payment transaction. She checks if the validated duplicate copy of the deposit slips corresponds to the duplicate official receipt. If it matched, this will trigger the posting of payment of the client in the official receipts and updates the invoicing book and accounts receivable ledger. At the end of each week, the collector and the accounting staff prepares a weekly collection report and summary of accounts receivable aging report respectively that will be given to the accounting manager. The aging reports are for internal purposes and to see how many collection the company made. At the end of each month, the accounting manager does bank reconciliation to update the company’s book. She reconciles the passbook with the cash in......

Words: 1077 - Pages: 5

Free Essay

The Accounting Cycle

...Accounting Cycle Description Paper Team A ACC/340 Accounting Cycle Description Paper The payroll processing cycle is very time consuming and tedious when done manually. Therefore, the ‘Mom and Pop’s Grocery Store’ has elected to integrate its payroll with a computer software program. With this implementation the payroll process will be more efficient and effective. This paper will explain how the payroll processing cycle for ‘Mom and Pop’s Grocery Store’ integrates onto an enterprise-wide accounting information system. An enterprise-wide accounting information system “focuses on the business process of the organization as a whole” (Bagranoff, Simkin, & Stand, 2008, p. 7). Business process reengineering (BPR) is a total re-design of processes used by an organization that are no longer effective or efficient (Braganoff et al, 2008, p. 163). The ‘Mom and Pop’s Grocery Store’ will use BPR to update the old payroll process to the new enterprise-wide AIS system. The Accounting Information System (ASI) is a system that is put in place for a company to maintain its accounting system. The input devices commonly associated with AIS systems include: “standard personal computers or workstations running applications; scanning devices for standardized data entry; electronic communication devices for electronic data interchange (EDI) and e-commerce” (Business Glossary, p. 1, 2005, 2000, 1995, 1987). In addition, many financial systems come with Internet......

Words: 1489 - Pages: 6

Premium Essay

Project Life Cycle

...Project Life Cycle The four sequential major time periods through which any project passes, namely: 1. Concept 2. Definition 3. Execution (implementation or development) 4. Finishing (commissioning or close out). Each period may be identified as a Phase and further broken down into stages that typically reflect the area of project management application and the size and complexity of the specific project. [D01432] A collection of project phases whose name and number are determined by the control needs of the organization or organizations involved in the project. [D01428] The complete set of time periods through which a project passes sequentially in a logical and orderly manner. In its simplest form the life cycle consists of four major periods: 1. Concept (where the project concept as a need solution is selected and defined) 2. Development or Definition (where the concept is verified and developed into a workable plan for implementation) 3. Implementation (where the implementation plan is carried out); and 4. Closeout (where the project process is completed and documented, and the finished product is transferred to the care, custody and control of the owner.) Progress through the project life cycle is identified by ‘milestones’, but these major periods should be separated by ‘Control Gates’ or ‘Executive Control Points’. [D01429] The four sequential phases in time through which any project passes, namely: Concept; Definition (or......

Words: 479 - Pages: 2

Premium Essay

Life Cycle

...Chapter 2 Exercise 3 The software development life cycle (SDLC) is the entire process of formal, logical steps taken to develop a software product. Within the broader context of Application Lifecycle Management (ALM), the SDLC is basically the part of process in which coding/programming is applied to the problem being solved by the existing or planned application. The SDLC is broken down into six stages; project planning, requirements definition, design, development, integration/test, and application/acceptance ( The first stage is the planning stage in which you create a software product that is extracting the requirements or requirements analysis. The stages generally align with the phases of project management lifecycle; however SDLC phases do no correspond one-to-one with project management phases. Project management deliverables such as the Project Scope Statement, Project Schedule, and budget estimates are refined to reflect increasing clarity of scope and requirements with each iteration. Agile methods have proven their effectiveness and are transforming the software industry. As agile methods evolve and extend, Agile Alliance fosters a community where organizations and individuals find ways to transit Agile Alliance website offers an information hub where members can access a wide variety of resources; an article library, videos, presentations, local user group listings and links to additional agile resources. Agile Alliance organizes the......

Words: 991 - Pages: 4

Premium Essay

Project Management - Project Cycle Time

...BETWEEN PROJECT MANAGEMENT AND PRODUCT CYCLE TIME TOWARDS COMMERCIAL SUCCESS TABLE OF CONTENTS Pages Executive Summary 2 1.0 Research Overview 2.1 Introduction 3 2.2 Research Background 3 2.0 Literature Review 2.1 Review of the Literature on the relationship between cycle time and products 3-9 3.0 Analysis and Discussion 9-10 4.0 Conclusion 11 5.0 References 12 CHAPTER I 1.0 Introduction 1.1 Research Background As global competitive pressure increase and product life cycle compress, companies are trying to shorten product development cycle times (Griffin, Journal of Marketing Research, Febuary 1997). Nevertheless, faster may not be always good. Intensive research in one firm shows that rapid development times are not correlated with expected commercial success (Utterback M. H., 1995) New product development (NPD) cycle time is critical because life cycle are shrinking, and obsolescence is occurring more quickly than in the past while competition also has intensified. To keep up with competition and continue grow in the face of shorter product life cycle,......

Words: 1869 - Pages: 8

Premium Essay

Accounting Cycle

...Accounting Cycle ACC/421 July 26, 2011 Jana Howie Accounting Cycle Accounting cycle is “the name given to the collective process of recording and processing the accounting events of a company. The series of steps begin when a transaction occurs and end with its inclusion in the financial statements” (Investopedia, 2011). The basic eight steps of the accounting cycle will be explained and described in this paper. Identifying and Recording These first steps are associated with one another and are done during the month while transactions happen. Business transactions are sorted into debits and credits that will be entered into accounting records. These transactions are identified through an original source document i.e. invoice, time card, purchase order). Journalizing “A company records in accounts those transactions and events that affect its assets, liabilities, and equities” (Kieso, Weygandt, & Warfield, 2007, p. 69). Journals include sales, purchases, cash receipts, general and cash payment journals; these in which are kept in chronological order. Posting This occurs when transferring the journal entries to the ledger accounts. Ledgers are kept by account; these include T-account forms or balances. A “general ledger is usually monthly while subsidiary ledgers are usually done daily” (Kieso, Weygandt, & Warfield, 2007, p. 68). Trial Balance A calculation that verifies the total of debits is equal to the total of credits. An unbalanced trial......

Words: 466 - Pages: 2

Free Essay

Tourism Cycle

...THE TOURISM LIFE CYCLE: AN OVERVIEW OF THE CRETAN CASE Dr Konstantinos Andriotis 1 Hellenic Open University, Greece. Abstract: The increasing demand of international tourists for holidays has resulted in a rapidly increase of the number of tourist destinations. To explain destinations development the life cycle approach has been widely adopted. According to Butler (1980) destinations pass through a predictable sequence of six stages. These stages are: exploration, involvement, development, consolidation, stagnation and decline or rejuvenation. In each life cycle stage there are changes in the morphology, the types of tourists visitation, and residents’ attitudes towards tourism. th Through the presentation of historical data from the start of the 20 century up to now it is the aim of this paper to document these changes by providing evidence from the island of Crete. Five stages of tourism evolution are evident, namely: the era of ‘wealthy’ explorers, the era of cruisers, the Second World War and the Civil War, the reconstruction of the tourism industry, and the era of mass organised tourism. The findings confirm that today the island is on the maturity stage, tourism has resulted on substantial changes on the island’s coastal resorts and various attempts are required by the private and the public sectors to avoid decline. Keywords: Tourism, Tourism Destinations, Life Cycle INTRODUCTION Various studies (e.g. Gilbert, 1939; Defert, 1954; Stansfield, 1978; Young, 1983)......

Words: 5114 - Pages: 21

Premium Essay

The Deming Cycle

...The Deming Cycle By Paul Arveson W. Edwards Deming in the 1950's proposed that business processes should be analyzed and measured to identify sources of variations that cause products to deviate from customer requirements. He recommended that business processes be placed in a continuous feedback loop so that managers can identify and change the parts of the process that need improvements. As a teacher, Deming created a (rather oversimplified) diagram to illustrate this continuous process, commonly known as the PDCA cycle for Plan, Do, Check, Act*: * PLAN: Design or revise business process components to improve results * DO: Implement the plan and measure its performance * CHECK: Assess the measurements and report the results to decision makers * ACT: Decide on changes needed to improve the process Deming's PDCA cycle can be illustrated as follows: Deming's focus was on industrial production processes, and the level of improvements he sought were on the level of production. In the modern post-industrial company, these kinds of improvements are still needed but the real performance drivers often occur on the level of business strategy. Strategic deployment is another process, but it has relatively longer-term variations because large companies cannot change as rapidly as small business units. Still, strategic initiatives can and should be placed in a feedback loop, complete with measurements and planning linked in a PDCA cycle. To illustrate the......

Words: 1652 - Pages: 7