Compare and contrast the four phases of the project life cyc

Compare and contrast the four phases of the project life cycle process.

Solution

The 4 phases of project life cycle process are:

(i) Start up and definition - In this phase the objective of the project is defined, followed by appraisal of risks, benefits and quantum of financial investments.

(ii) Planning - This stage looks at the planning aspect in terms of time, resources and costs.

(iii) Execution - In this phase or stage, the plan is implemented and the work is controlled and monitored.

(iv) Closing phase - This is the last phase or process. In this stage resources are reassigned for other projects after the current project is successfully completed.