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Phases of project life cycle

Phases of project life cycle

Before understanding the phases of project, we will learn what is the meaning of Project.

A Project is an activity which is done to accomplish a  specific task. That can be in the form of Product or Services. It is a temporary activity i.e. when a project is completed we give a complete closure to that project. Generally, we don’t repeat the same planning of the project for another one.

Here comes the phases of project life cycle:

  1. Initiation
  2. Planning
  3. Execution
  4. Control
  5. Closure

The first phase is Initation, means that to take a task and understand what is the need and requirements of that task. We first analyse the situation and after that prepare ourselves for the project we are going to start.

Planning is deciding in advance what is to be done, how is to be done and whenit is to be done. We make a specified plan for our projects. Basically in this phase we map out  the schedule for the whole project.

Execution is also known as the Action Phase. In this phase we actually start working on the project. All the required materials are available to use. We practically being with the workings.

Controlis the phase where we check errors in order to take corrective actions and when we get all the errors we rectify them as soon as possible.Control are of two types: first is when we are in progress of the project and find errors and we change accordingly. Second is when the whole project is completed and then the control measures are taken.

Closure, this is the last phase of the project. Here we complete our whole project without leaving even a small party of project. We end up with everything and give a complete ending to our project.

Sakshi Saini

GGSIPU (TIAS)

BBA 6MA

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Rashmi Gujrati

Prof. Dr. Rashmi Gujrati , Professor, Institute: Management College. India Qualification: M.com, MBA, Ph.D. Specialization: Marketing, Finance & International Business Regulatory board Member of InTraders Academic Platform • Life member of India Commerce Association • Life member of Indian Accounting Association • Life member of Association of Indian College Principals • Member of Foundation Social Science Research FSSER Malaysia Reviewer Committee member of IBIMA Association Spain. • Scientific & Review committee, Advisory Board, Editorial research projects of AASE as a trainer/consultant/researcher AASE Member Chung Yaun Christiana University Taiwan.

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