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This guide explains what good project cycle management (PCM) looks like and gives practical tools and examples for applying PCM principles in each phase of the project cycle. This guide follows the different phases in the project cycle: understanding the situation, project design, approval and governance,
A project life cycle is a “series of phases that a project passes through from its start to its completion.” A project phase is “a collection of logically related project activities that culminates in the completion of one or more deliverables.”
1. The concept of a project life cycle; 2. The characteristics of the classical project life cycle; 3. The difference between classical and semistructured projects; 4. The components of the structured life cycle; and 5. The difference between radical and conservative life cycles.
The APMBOK8 defines a life cycle as. A life cycle defines the inter-related phases of a project, programme or portfolio and provides a structure for governing the progression of the work. The SEHBK9 does not define what a life cycle is per se (as it draws upon ISO15288), but does state that its purpose is.
The Proposed Six-Phase Comprehensive Project Life Cycle. The addition of the Project Incubation Phase and the Post-Project Evaluation Phase to the standard top-level project life cycle model produces a truly realistic and comprehensive project life cycle model that recognizes the importance of each of these phases.
The project life cycle acts as an important management tool focusing on the allocation of resources, the availability of key individuals, the integration of activities, the support of timely decision making, the reduction of risk and the provision of control and governance mechanisms.
The role of a project life cycle is to subdivide the chronological development of the project into distinct parts (called “phases”) in order to ensure effective management and technical control by limiting the amount of future investment and work authorized at any point in time.
