The life cycle methodology has a structured beginning which contributes to the ending being successful. This is like any other methodology used in the business world. What makes them different is the path they take between these two critical points.
While each phase of the life cycle methodology is important, the initiation phase has a great deal of responsibility on its shoulders. This is the starting foundation on which the rest of the project will be built upon. By beginning with a project management software program that is built around the lifecycle methodology, a known path will be taken. This path has proven itself in the past to produce positive results for numerous businesses.
A good deal of this responsibility in the initiation stage of the life cycle methodology is that of the stakeholders. They are the ones that approve the goals and the scope of the project. They are also the ones that evaluate the feasibility study and make the go-ahead decision on the project and its deliverable.
The next phase of a life cycle methodology is the planning stage. This is where all of the input from the stakeholders is taken and a project plan is devised to make it a reality. This part is crucial and is where the extreme benefits of following just one methodology plays an important role. With the entire project team following the same known lifecycle methodology, all of the separate pieces will come together seamlessly.
Now that the life cycle methodology has been used to build a foundation and there is now a structure present, the execution phase of the lifecycle can commence. This phase will also follow the known path of your methodology that each team member can follow, so the appropriate tasks are done on time and in the correct order.
The successful conclusion of your life cycle methodology is accomplished when the deliverable is ready for the market place. This is after the quality of the deliverable has been checked, to ensure the original goals and scope of the project approved by the stakeholders has been met.