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1.1 Identify and briefly describe the stages of the project life cycle. Further illustrate the project life
cycle by means of a figure. (10)
1) Defining stage
Specifications of the project are defined; project objectives are established; teams are formed;
major responsibilities are assigned.
2) Planning stage
The level of effort increases, and plans are developed to determine what the project will entail,
when it will be scheduled, whom it will benefit, what quality level should be maintained, and what
the budget will be.
3) Executing stage
A major portion of the project work takes place-both physical and mental. The physical product is
produced (a bridge, a report, a software program). Time, cost, and specification measures are use
for control.
4) Closing the project
, Closing include three activities: delivering the project product to the customer, redeploying project
resources, and post-project review. Delivery of the project might include customer training and
transferring documents. Redeployment usually involves releasing project equipment/materials to other
projects and finding new assignments for team members. Post project reviews include not only
assessing performance but also capturing lessons learned.
1.2 Identify and briefly describe the six factors that are increasing the demand for project management.
(6)
The Importance of Project Management
a) Compression of the Product Life Cycle
One of the most significant driving forces behind the demand for project management is the
shortening of the product life cycle. For example, today in high-tech industries the product life cycle
is averaging 1 to 3 years. Only 30 years ago, life cycles of 10 to 15 years were not uncommon. Time
to market for new products with short life cycles has become increasingly important.
b) Knowledge Explosion
The growth in new knowledge has increased the complexity of projects because projects encompass
the latest advances. For example, building a road 30 years ago was a somewhat simple process.
Today, each area has increased in complexity, including materials, specifications, codes, aesthetics,
equipment, and required specialists.
c) Triple Bottom Line (planet, people, profit)
The threat of global warming has brought sustainable business practices to the forefront. Businesses
can no longer simply focus on maximizing profit to the detriment of the environment and society.
Efforts to reduce carbon imprint and utilize renewable resources are realized through effective
project management.
d) Corporate Downsizing
The last decade has seen a dramatic restructuring of organizational life. Downsizing (or rightsizing if
you are still employed) and sticking to core competencies have become necessary for survival for
many firms.
e) Increased Customer Focus
Increased competition has placed a premium on customer satisfaction. Customers no longer simply
settle for generic products and services. They want customized products and services that cater to
their specific needs.
f) Small Projects Represent Big Problems
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