NAME: Marisse F. Delos Reyes YR. COURSE.

SECTION: 3BSAIS-B

MODULE 2
LESSON 2: Project Life Cycle

ACTIVITY
Make a diagram on the Phases of Project Life Cycle.

APPLICATION

1. What is a project life cycle? Describe each project phase with one example?

ANSWER:
The project life cycle is a 4-step framework designed to help project managers guide their projects successfully
from start to finish. The purpose of the project life cycle is to create an easy to follow framework to guide
projects.

4 phases of the project life cycle:

• a) INITIATION PHASE: This is the first phase during the initiation phase of the project represents the
activities associated with starting-up the project. (E.g. The project manager focused on defining and finding a
project leadership team with the knowledge skills and experience to manage a large complex project in a remote
area of the globe.)
• b) PLANNING PHASE: Planning Phase - This phase is where the project is broken down into
manageable areas of work and planned in terms of time, cost and resources. This is a continuous process and
will extend throughout the execution phase of the project. (E.g. The project team developed and integrated
project schedule that coordinated the activities of the of the design, procurement, and construction team.)
• c) EXECUTION PHASE: During this phase the work is implemented, controlled and monitored. (E.g.
On a construction project, this would include the design and construction activities.
• d) CLOSING PHASE: The final phase of the project life cycle is close-out and demobilization, where
resources are reassigned, the project is handed over and the post-project review is carried out. (E.g. This
includes turning over the newly constructed plant to the operations team of the client.)

2. Have you experienced any project failure? If so, what lessons have you learned? If not, what
successful experiences would you like to share?

ANSWER:

Yes, I experienced project failure and it happened 2 years ago. Over the years that failure moments taught me
what it takes to succeed it need hard work, from my colleagues and me. I have learned to work well with others
in a group, as it is necessary to cooperate with others but most important, I have learned about the importance
and the impact of knowing project life cycle for us to do better and to risk failure in order to gain success and to
know that it is important that we have tried and tested ourselves.

3. What key project management processes and knowledge areas are covered in PMBOK (2008)?
How do they represent your real-world project management experiences?

ANSWER:

I. Project Integration Management

II. Project Scope Management
III. Project Time Management
IV. Project Cost Management
V. Project Quality Management
VI. Project Human Resource Management
VII. Project Communications Management
VIII. Project Risk Management
IX. Project Procurement Management
X. Project Stakeholder Management

PMBOK (2008) mentions many important aspects of projects and it really help us in dealing with the real time
project it is easy to implement project because it is more flexible with the help of these key project management
processes and knowledge areas. It will be your basis and guide in managing your project and it really helped for
me to have precise plan and consistent that targets all parts of project life cycle.
4. As a project manager, what techniques, tools, or strategies can you use to effectively manage
project risks?

ANSWER:

It is necessary to predict and prepare for all potential risks as a project manager and determine how they will be
managed. In addition, we must always be concentrated on any aspect that can impact the project. We must
apply the project life cycle to prevent or reduce project risks in order to ensure that our techniques and
instruments used in our project are successful. To conclude Risk can be either positive or negative, though most
people assume risks are inherently the latter. Where negative risk implies something unwanted that has the
potential to irreparably damage a project, positive risks are opportunities that can affect the project in beneficial
ways.