Project Lifecycle Management
✅ 4. Visual of Project Lifecycle Flow
cssCopyEditInitiation → Planning → Execution → Monitoring & Controlling (runs parallel to Execution) → Closure✅ 5. Explanation of Each Phase
🔹 1. Initiation
Identify project goals and stakeholders.
Define scope and business case.
Appoint project manager.
📝 Example Deliverables: Project Charter, Stakeholder Register.
🔹 2. Planning
Develop detailed plans (scope, schedule, cost, quality, risk, communication).
Identify resource needs.
Set baselines for performance.
📝 Example Deliverables: Work Breakdown Structure (WBS), Project Schedule, Risk Management Plan.
🔹 3. Execution
Coordinate teams and resources.
Manage tasks and communication.
Ensure quality in outputs.
📝 Example Deliverables: Status Reports, Deliverables, Meeting Minutes.
🔹 4. Monitoring & Controlling
Measure project performance.
Track and manage risks/issues.
Handle scope, time, cost changes.
Ensure project stays aligned with plan.
📝 Example Deliverables: Performance Reports, Issue Logs, Approved Changes.
🔹 5. Closure
Deliver final product/service.
Obtain stakeholder acceptance.
Close contracts, release resources.
Document lessons learned for future projects.
📝 Example Deliverables: Final Report, Lessons Learned, Project Closure Document.
✅ 6. Tools Used in Project Lifecycle Management
Purpose
Tools
Planning & Scheduling
MS Project, Jira, Asana, Trello.
Communication & Collaboration
Slack, Microsoft Teams, Zoom, Email.
Documentation
Confluence, Google Docs, SharePoint.
Monitoring & Reporting
Power BI, Tableau, Excel, Jira Reports.
Risk Management
Risk Register templates, spreadsheets.
✅ 7. Role of Business Analyst (BA) in Project Lifecycle
Phase
BA's Role
Initiation
Help define business needs, analyze stakeholders.
Planning
Elicit and document requirements, support scope definition.
Execution
Clarify requirements, support development teams.
Monitoring & Controlling
Validate deliverables against requirements, manage change.
Closure
Support final acceptance, document lessons learned.
✅ 8. Common Challenges in Project Lifecycle Management
Challenge
Solution
Scope Creep (uncontrolled changes)
Use Change Control Process, clear documentation.
Unclear requirements
Conduct thorough requirement analysis and validation.
Poor communication
Regular updates, stakeholder engagement plans.
Resource constraints
Realistic planning, priority setting.
Risk mismanagement
Continuous monitoring, proactive mitigation.
✅ 9. Benefits of Applying PLM
Benefit
Explanation
Improved control
Over project scope, time, cost, quality.
Increased transparency
Clear tracking of progress and issues.
Higher stakeholder satisfaction
Meeting expectations and quality.
Better team collaboration
Defined roles, communication.
Efficient problem-solving
Early identification and resolution of issues.
✅ 10. Summary of Project Lifecycle Management
Aspect
Explanation
Definition
Managing a project through defined stages.
Phases
Initiation, Planning, Execution, Monitoring & Control, Closure.
Importance
Structure, risk reduction, stakeholder alignment.
BA Role
Supporting business needs, requirements, validation.
Tools
Jira, MS Project, Confluence, Slack.
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