Understand Project Life Cycles

Question 1

2.1.6 : project lifecycle

Answer 1

Project lifecycle

Question 2

Differentiate between linear, interactive and hybrid lifecycle

Answer 2

Life cycles are fundamental features of project management
Linear: simplest approach, draws value at the end
Iterative: agile approach,
Hybrid: combine linear and iterative

Question 3

Explain why projects are structured in phases in a linear life cycle

Answer 3

• Allow for planning to be more reliable
• improve risk identification, estimating accuracy, performance review, quality management, and reporting are all enhanced

Question 4

Differentiate between a project life cycle and a extended life cycle

Answer 4

Project life cycle: concept, definition, deployment and transition
Extended project life cycle: adoption, benefits realisation, operation and termination

Question 5

Explain the benefits of conducting reviews throughout the life cycle ( decision gates, benefit reviews and audits)

Answer 5

Stakeholder management, communication and effective governance - help organisations measure projects contribution to business objectives, enhances project management performance + contribution to long term maturity of organisations

Generate : lessons learnt, and may initiate change

Question 6

Explain why projects may close early

Answer 6

Opportunity can be created by terminating a project - future learning, re direction of funds and new opportunities emerging can provide greater return for losses experienced