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Why Is It Best to Have Six Or Less Life-Cycle Phases In An Epm System?
Why is it best to have six or less life-cycle phases in the EPM system: The project Life-Cycle has different phases from starting to end. In the project various people from different areas can include and work together. It starts from the time to time completed or sometimes will extend the situations unless it will fail. Majorly in the project different phases, those are: In this each phase have Pre-feasibility can also called Conceptualization Phase, Feasibility or Planning phase, Development Phase, Implementation Phase, Launce Phase, and Post-implementation Phase. Why Is It Best to Have Six Or Less Life-Cycle Phases In An Epm System
Initial Phase: Pre-feasibility phase or Initial phase is the beginning of the project. In this the project concept will be explored and Elaborated. The main goal of this project is to examine the project. In this initial stage, the current or prospective team lead will give you a description of the whole project. This type of project proposal includes business plans and grant applications. The sponsors of the project evaluate the proposal and, upon approval, provide the necessary financing. They can rise the questions like why this project, is it possible or not? who are the trusted partners, what should be the output, and scope of the project? ln initiation phase to the development of the project and to prevent false expectations concerning the outcome of the project.
Phase 2: A project plan is conducted to strategize the initiative. A project plan has to be complete, realistic, and accurate to have a successful project. The study is conducted to identify the potential opportunity and complications that could help or possibly derail the project. The project tasks and resource requirements are identified along with the strategy.
Phase 3: In the development phase of the project, the planning or feasibility study is completed, and the project moves on to design and development. This phase follows unique user requirements and documentation and is measured against predefined criteria. Why Is It Best to Have Six Or Less Life-Cycle Phases In An Epm System
Phase 4: In the 4th phase or Execution Phase, the project plan is starting the work of the project is performed. This is important to maintain control and communicate as needed during implementation. Progress is continuously monitored and appropriate adjustments are made and recorded as variances from the original plan. In any project, a project manager spends most of the time in this step. During project implementation, people are carrying out the tasks, and progress information is being reported through regular team meetings.
Phase 5: In this Controlling phase Implementation takes place during the control stage. During this stage, the tasks and activities of the team will be monitored against the plan to assess the actual progress of the project against the planned progress. Control is essential to ensure that the objectives are met within the scheduled timescales, budgeted costs and quality. Regular reviews are usually held to enable the plan to be revised and for any difficulties that emerge to be resolved. Why Is It Best to Have Six Or Less Life-Cycle Phases In An Epm System
Phase 6: The review is held to evaluate whether all the intended outcomes of the project have been met. It is also important because it enables information to be gathered about the processes used in carrying out the project from which lessons can be learned for the future. The exit from the project has to be managed to ensure that: any outstanding tasks are completed; all activities that were associated with the project are discontinued; all resources are accounted for, including any that remain at the end and have to be transferred or sold to someone else.
Many projects evolve through a series of loops of planning, acting, reviewing, and replanning. It is important to think of planning as a continuous activity rather than something that can be completed once and used without change for the duration of the project. Expect change and allow the scope to change or modify the plan.
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