Professional Documents
Culture Documents
Project Management
Project Management
Project Management
Project Life Cycles
Man Hours
High
Stakeholder influence, risk, and uncertainty
Degree
Cost of changes
Low
Project time
Characteristics of Project Life Cycle
Product Vs Project Life Cycle
• Product life cycle consists of generally sequential,
non-overlapping product phases
• Project life cycles occur in one or more phases of a
product life cycle
• Where the objective is service or result, there may be
life cycle for service or result not product
• Development of a new product could be a project on
its own
• An existing product might benefit from a project to
add new functions or features, or a project might be
created to develop a new model
Product Vs Project Life Cycle
• Many features of the product life cycle lend themselves
to run as project, for example,
– Performing a feasibility study
– Conducting marketing research
– Running an advertising campaign
– Installing a product
– Conducting a product trial in a test market etc
Here, project life cycle would differ from the product life
cycle
Product Vs Project Life Cycle
One product may have many projects associated
with it
Deployment 5% 5% Deployment