-          Most projects are divided into phases, and all projects, large or small, have a similar project life cycle structure

-          Project Phases

• Generally consist of segments of work that allow for easier management, planning and control of the work

-          Project Life Cycle

• All the collective phases the project processes through in concert
• Similar for all projects regardless of their size and complexity
• Phases are typically sequential, and sometimes overlap each other
• Most projects at least the 4 following project life cycles:
  • Beginning the project
  • Planning and organizing the work of the project
  • Performing the work of the project
  • Closing out the project

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Handoffs

-          Project phases evolve through the life cycle in a series of phase sequences

-          A.k.a. technical transfers

Phase Completion

-          Has a specific deliverable or multiple deliverables

-          Deliverable

• An output that must be produced, reviewed and approved to bring the phase or project to completion
• Tangible and can be measured and easily proven

-          Phase End Review

• Allows those involved with the work to determine whether the project should continue on to the next phase
• Per the PMBOK Guide: a.k.a. phase exits, phase gates, milestones, stage gates, decision gates and kill points

Multi-phased Projects

-          Projects may consist of one or more phases

-          Phases of the project are often performed sequentially, but there are situations where performing phases concurrently or overlapping the start date of a sequential phase can benefit the project

-          Per PMBOK Guide: Three types of phase-to-phase relationships:

• Sequential relationships – one phase must finish before the next phase can begin
• Overlapping relationships – one phase starts before the prior phase completes
• Iterative relationships – work for the subsequent phases are planned as the work of the previous phase is performed

-          Sometimes phases are overlapped to shorten or compress the project schedule otherwise known as Fast-tracking

-          Fast Tracking – means that a later phase is started prior to completing and approving the phase, or phases, that come before it, technique is used to shorten the overall duration of the project

Most projects have the following characteristics in common:

-          Cost are low in the beginning of the project, when the project is just being initiated

-          During initiation/project beginning only a few team members are assigned to the project

-          Cost and staffing and increases as the project progresses and tapers off as it gets to closing

-          Successful ending potential a project is lowest in the beginning; chances for success increases as the project progresses through its phases and life cycle stages

-          Risk is highest at the beginning of the project and gradually decreases the closer the project comes to completion

-          Stakeholders have the greatest chance of influencing the project and the characteristics of the product, service or result of the project in the beginning phases and have less and less influence as the project progresses

Reference:

PMP Project Management Professional Exam Study Guide, Includes Audio CD

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