The various phases of project life cycle in a simplified form is explained below:
- Conception Phase
- Definition Phase
- Planning and Organizing Phase
- Implementation Phase
- Clean up/ Termination Phase
- What is problem?
- Will the proposed project solve that problem?
- What are the specific goals of the project?
- Do we have resources to create and support the project?
These phase concerned with the development of the generated idea during the conception phase. It produces a document describing the project in sufficient details covering various aspects accessory for the customer or financial institution to make up their minds on the project. This phase avoids some ambiguity and uncertainty associated with the formation made during the conception period.
In this phase either project is accepted or rejected.
This phase can effectively starts only after the definition phase, but in practice, it starts much earlier. Almost immediately after the conception phase. It is often taken as a part of implementation since it does not limit itself of paperwork and thinking but many activities including field works are undertaken during these phase. Hence this phase overlaps so much with definition and implementation phases. This is concerned with choosing appropriate wages and developing best course of action to achieve defined objectives.
Project focuses on the following aspect during this phase:
- System design and basic engineering package.
- Scheduling and budgeting.
- Licensing and government clearance.
- Terms and condition of contract.
- Identification of project manager.
- General condition for purchase and contract System and procedures.
- Financial provision.
- Site preparation and investigation.
- Work packaging.
- Allocation of task, resources.
- Authority and responsibility.
4. Implementation Phase
This is the most important phase of project life cycle. It is also called project execution phase because bulk of the project works are done during these phase. Actually all human and non-human resources are mobilized to perform the project task according to plan. All techniques of project management are applied to attain the project objectives within constraint of time, cost and quality. Thus success of project is also highly dependent on the implementation phase.
- Allocation of project task to members.
- Setting of management information system.
- Starting of construction works.
- Use of time sequence schedule for implementation.
- Ordering and erection of equipment.
- Negotiation and contracting with various parties.
- Timely supervision.
- Use of control techniques.
- Identification performance problem and timely correction.
- Dues collection.
- Outstanding payments.
- Check customer satisfaction.
- Closing of accounts.
- Lay-off personnel.
- Transfer of remaining resources.
- Handover the project to concerned party.