Project is a sort of objective given to business or an agreement of making desired number of a specific article. Management life cycle can be defined as a plan making to complete a project by a project head making a plan and stages involved which should be followed when working on project.
It can be defined as a sequence of steps which should be made before start working on a project to avoid any hindrance during working on certain project and the people involved in it.
Format of Life cycle of Project Management
The project management consists of life cycle involving sequence of steps to be followed. It should be like:
Initiation as the name describes is the first step in project management. It involves outlines what is the project need whether it is a product or service. It should describe the steps which are needed to start a project. Research is made as what are the effective steps to start a project to make it a success. Project manager which is a head of project is decided by management which passes the initial steps after that working is started according to steps.
It is one the major stage as the effective planning means successful project. At this stage all steps should be made that will be worked on to complete a project before deadline. Steps should be explained fully to make the team members aware of working procedures.
Plan is made mentioning resources needed for the project like quantity of raw material, machine hours needed and labor time needed for the project. It should highlight the resources and tasks needed to done to make a project successful. Cost estimation should be made therefore expense and profit can be calculated.
Limiting factors should be identified at this stage to prevent any hindrances during work process. Any factors like shortage of labor can be solved at this time to complete project on time. Check out Work Breakdown structure template for more detail.
As the name suggests at this stage work on the project is started. Project manager should look out that proper procedures are being used to produce quality products. Any differences during work from plan should be highlighted and changes should be made.
This is the most important stage of project management as the success of project depends on this stage therefore proper control should be made. Project manager should strictly watch the project quality and in cases of any major differences high authorities like stakeholders should be made informed.
When the project work is completed the products produced should be delivered where they are required. The contracts made to complete the project should be terminated and all the information relating to project should be recorded which can be helpful in future.
Microsoft PowerPoint Template as Project Management Lifecycle
As project management helps to estimate a budget and therefore cost of project it should be made in a manner which should be understandable. It is best choice for this as various slides can be used for individual life phase of project however the first one should shows the overview of project.
It should clearly show risk management in slide of planning stage clearly. colors should be used on each lifecycle stage to capture attraction of project manager.