The Initiation and Planning Stages: Project Life Cycle

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Initiation and Planning Stage: Project Life Cycle:

I. Initiation: The initial stage in the life cycle of a project is initiation, or where the project is comes into form. Designated goals and other processes that will facilitate a project’s success are defined at this stage. The project scope along with strategies to achieve deliverables is established. A project manager is also chosen. He or she is responsible for choosing the project team members. The processes and tools selected at this stage are: Project Charter, Business Plan, Project Framework, Business Case Justification and Milestone Reviews.

II. Planning: The second stage is planning. Here the project is dissected into smaller and achievable tasks. This is a critical phase of the project lifecycle of a project as defined processes and tasks can predetermine efficiency. Each task to be executed through the end of the project is identified. In this phase the stakeholders are identified along with consensus on frequency of reporting and chosen channels. Risk Analysis also performed. Efficiency of planning influences the quality level of results in terms of the outcome and resource consumption.

Objectives of the Planning Phase:

1. Business requirements
2. Costs, schedules and resource consumption
3. Foundation for the next phase — the main processes executed in this phase below:

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