The standard life cycle methodology starts with the projects initiation that progresses to the project planning when the project is defined. Once the projects plan is defined and documented is can progress to the execution stage. With careful monitoring of the quality the projects closure can be obtained. This brings the manager of the project back to the beginning with a new project and its initiation.
This is the basic structure of the life cycle methodology. During each of the phases of this type of methodology a documented plan must be in place. There also has to be a record of what was accomplished thought the projects progression so a permanent record can be kept on file for further reference.
The initiation phase of the life cycle methodology is where the ground work of the prospective project is put into place. Before the project can really be called a project it must be approved by the stakeholders. For them to approve it there must be a positive result from the feasibility study and a business case dawn up.
Once the project is approved it becomes a real working project and the planning stage of the life cycle methodology begins. This is where the project management templates are used in large quantities to formulate the different activities of the project. This will include the labor schedules, resource schedules, quality plan, communication plan, and acceptance plan along with the budgetary needs.
With the projection of how the project is to procedure thru every phase the execution of the life cycle methodology will commence. This is where the actual deliverable will be produced and the quality plan to be utilized. This is also where the different issues and risks will be encountered and must be mitigated properly to minimize their negative impact.
The last phase of a life cycle methodology is where the deliverable is completed and is ready to be shipped to the customers. This is also where the post implementation review is conducted so the necessary adjustment can be made on improving the procedures for the next project can be documented.
This is the basic life cycle methodology that can be used by a company for the completion of a project.
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