Projects have a distinct life cycle, starting with an idea and progressing through design, engineering and manufacturing or construction, through use by a project owner. Project life cycle is a collection of generally sequential project phases, whose name and number are determined by the control needs of organization or organizations involved in the project. A project phase is collection of logically related project activities usually culminating in the completion of major deliverable i.e. any measurable, tangible, verifiable outcome, result or item that must be produced to complete a project or part of project.
The project originates as an idea in someone’s mind, takes a conceptual form and eventually has enough substance that key decision-makers in the organization select the project as a means of executing elements of strategy in the organization.… Read the rest
