The modern Life Cycle methodology is the latest and most complete approach to a project and its development from its inception to a successful conclusion that has yet to be invented. The name itself is a true description of just what is covered within this program.
In all projects that follow the life cycle methodology there are four distinct phases that a project will go thru. These are the initiation, planning, execution and closure phases. Each one is categorized like this because of the different functions of the processes that are preformed in each one. They are all unique and necessary for your project to conclude successfully with a deliverable that can be beneficial you’re your company.
In the initiation phase of the life cycle methodology, the foundation for the entire project is laid out and then approved by the stake holders of the project. No matter how great the idea or business opportunity is, without this phase being concluded properly, the rest of the project will have problems.
The second phase of the life cycle methodology is the planning stage. This is the portion of the lifecycle that takes all the data and information from the initiation phase and plans it out into a functioning process that can be easily followed. The planning of a project does have to be complete and detailed without being overly complex. If those executing the construction of the deliverable cannot understand or follow the plan, it is then just a wasted set of instructions. Completeness but methodical is the key to producing the necessary documents in this phase.
The execution phase of the life cycle methodology is where all the planning and forethought of the project is put to use. This is where the project manager will see how well their schedules work along with the choice of raw materials they decided to provide for this project actually work. It is also the area of the project that could have the risks and issues impact the project. If planned properly, these will be mitigated to the point of non-interference.
The closure portion of the life cycle methodology is the wrapping up of any lose ends. In most cases this part of the project is the easiest and the best because you can physically see the results of your hard work.