THE PROJECT LIFE CYCLE

Project
conception
& initiation
1

Project
Project
Definition
Close & Planning
5
2

Project Project
Performance Launch or
& Control Execution
4 3
the elements of a project life cycle should define:

•What work must be accomplished

•What deliverables must be generated and reviewed

•Who must be involved

•How to control and approve each phase

 PHASE 1: INITIATION
What Is the Project Initiation Phase?
The initiation phase encompasses all the steps you must take before a project is
approved and any planning begins. The goal is to define your project at a high
level and tie it into the business case you wish to solve.

You should be able to answer two questions: why are you doing this project and
what is the business value you expect to deliver? Consider the feasibility of your
project and all of the stakeholders that may be affected or require involvement.

If it is given the green light, you will need to create a project charter or a project
initiation document (PID) that outlines the purpose and requirements of the
project.
 PHASE 2
PROJECT PLANNING
THIS PHASE IS KEY TO SUCCESSFUL PROJECT MANAGEMENT
AND FOCUSES ON DEVELOPING A ROADMAP THAT
EVERYONE WILL FOLLOW. THIS PHASE TYPICALLY BEGINS
WITH SETTING GOALS. TWO OF THE MORE POPULAR
METHODS FOR SETTING GOALS ARE S.M.A.R.T. AND CLEAR:
S.M.A.R.T. Goals – This method helps ensure that the goals have been thoroughly vetted. It also provides a
way to clearly understand the implications of the goal-setting process.

S.M.A.R.T.

Specific Measurable Achievable Revelant Timely 

WHEN SETTING SPECIFIC
A GOAL, BE SPECIFIC ABOUT WHAT YOU WANT TO ACCOMPLISH. THINK ABOUT THIS AS THE MISSION STATEMENT FOR YOUR GOAL. THIS ISN’T A
DETAILED LIST OF HOW YOU’RE GOING TO MEET A GOAL, BUT IT SHOULD INCLUDE AN ANSWER TO THE POPULAR ‘W’ QUESTIONS:

•WHO – CONSIDER WHO NEEDS TO BE INVOLVED TO ACHIEVE THE GOAL (

•WHAT – THINK ABOUT EXACTLY WHAT YOU ARE TRYING TO ACCOMPLISH AND DON’T BE AFRAID TO GET VERY DETAILED.
•WHEN – YOU’LL GET MORE SPECIFIC ABOUT THIS QUESTION UNDER THE “TIME-BOUND” SECTION OF DEFINING SMART GOALS, BUT YOU
SHOULD AT LEAST SET A TIME FRAME.

•WHERE – THIS QUESTION MAY NOT ALWAYS APPLY, ESPECIALLY IF YOU’RE SETTING PERSONAL GOALS, BUT IF THERE’S A LOCATION OR
RELEVANT EVENT, IDENTIFY IT HERE.

•WHICH – DETERMINE ANY RELATED OBSTACLES OR REQUIREMENTS. FOR EXAMPLE, IF THE GOAL IS TO OPEN A BAKING BUSINESS, BUT
YOU’VE NEVER BAKED ANYTHING BEFORE, THAT MIGHT BE AN ISSUE. AS A RESULT, YOU MAY REFINE THE SPECIFICS OF THE GOAL TO BE
“LEARN HOW TO BAKE IN ORDER TO OPEN A BAKING BUSINESS."

•WHY – WHAT IS THE REASON FOR THE GOAL? WHEN IT COMES TO USING THIS METHOD FOR EMPLOYEES, THE ANSWER WILL LIKELY BE
ALONG THE LINES OF COMPANY ADVANCEMENT OR CAREER DEVELOPMENT.
MEASURABLE
CREATE CRITERIA THAT YOU CAN USE TO MEASURE THE SUCCESS OF A GOAL.
WHAT METRICS ARE YOU GOING TO USE TO DETERMINE IF YOU MEET THE GOAL? THIS MAKES A GOAL MORE TANGIBLE BECAUSE
IT PROVIDES A WAY TO MEASURE PROGRESS. IF IT’S A PROJECT THAT’S GOING TO TAKE A FEW MONTHS TO COMPLETE, THEN SET
SOME MILESTONES BY CONSIDERING SPECIFIC TASKS TO ACCOMPLISH.
ACHIEVABLE
IDENTIFY THE MOST IMPORTANT GOALS AND WHAT IT WILL TAKE TO ACHIEVE THEM.

THIS FOCUSES ON HOW IMPORTANT A GOAL IS TO YOU AND WHAT YOU

CAN DO TO MAKE IT ATTAINABLE AND MAY REQUIRE DEVELOPING NEW
SKILLS AND CHANGING ATTITUDES. THE GOAL IS MEANT TO INSPIRE
MOTIVATION, NOT DISCOURAGEMENT. THINK ABOUT HOW TO
ACCOMPLISH THE GOAL AND IF YOU HAVE THE TOOLS/SKILLS NEEDED. IF
YOU DON’T CURRENTLY POSSESS THOSE TOOLS/SKILLS, CONSIDER WHAT
IT WOULD TAKE TO ATTAIN THEM.
RELEVANT
YOU SHOULD BE WILLING AND ABLE TO WORK TOWARD A PARTICULAR GOAL.

RELEVANCE REFERS FOCUSING ON SOMETHING THAT MAKES

SENSE WITH THE BROADER BUSINESS GOALS. FOR EXAMPLE, IF
THE GOAL IS TO LAUNCH A NEW PRODUCT, IT SHOULD BE
SOMETHING THAT’S IN ALIGNMENT WITH THE OVERALL
BUSINESS OBJECTIVES. YOUR TEAM MAY BE ABLE TO LAUNCH A
NEW CONSUMER PRODUCT, BUT IF YOUR COMPANY IS A B2B
THAT IS NOT EXPANDING INTO THE CONSUMER MARKET, THEN
THE GOAL WOULDN’T BE RELEVANT.
TIME BOUND
CREATE A TIMEFRAME TO ACHIEVE THE GOAL.

ANYONE CAN SET GOALS, BUT IF IT LACKS REALISTIC TIMING,

CHANCES ARE YOU’RE NOT GOING TO SUCCEED. PROVIDING A
TARGET DATE FOR DELIVERABLES IS IMPERATIVE. ASK SPECIFIC
QUESTIONS ABOUT THE GOAL DEADLINE AND WHAT CAN BE
ACCOMPLISHED WITHIN THAT TIME PERIOD. IF THE GOAL WILL
TAKE THREE MONTHS TO COMPLETE, IT’S USEFUL TO DEFINE
WHAT SHOULD BE ACHIEVED HALF-WAY THROUGH THE
PROCESS. PROVIDING TIME CONSTRAINTS ALSO CREATES A
SENSE OF URGENCY.
C.L.E.R.T. Goals – A newer method for setting goals that takes into consideration the environment of
today’s fast-paced businesses.

C.L.E.A.R

Collaborative  Limited Emotional Appreciable  Refinable 

COLLABORATIVE – THE GOAL SHOULD ENCOURAGE EMPLOYEES TO
WORK TOGETHER.
LIMITED – THEY SHOULD BE LIMITED IN SCOPE AND TIME TO KEEP IT
MANAGEABLE.
EMOTIONAL – GOALS SHOULD TAP INTO THE PASSION OF EMPLOYEES
AND BE SOMETHING THEY CAN FORM AN EMOTIONAL CONNECTION
TO. THIS CAN OPTIMIZE THE QUALITY OF WORK.
APPRECIABLE – BREAK LARGER GOALS INTO SMALLER TASKS THAT
CAN BE QUICKLY ACHIEVED.
REFINABLE – AS NEW SITUATIONS ARISE, BE FLEXIBLE AND REFINE
GOALS AS NEEDED.
DOCUMENTS OF THIS PHASE

Planning DOC

Scope Work Breakdown Communication

Milestones  Gantt Chart Plan 
Statement   Schedule (WBS)
SCOPE STATEMENT – A DOCUMENT THAT CLEARLY DEFINES THE BUSINESS NEED,
BENEFITS OF THE PROJECT, OBJECTIVES, DELIVERABLES, AND KEY MILESTONES.
A SCOPE STATEMENT MAY CHANGE DURING THE PROJECT, BUT IT SHOULDN’T BE
DONE WITHOUT THE APPROVAL OF THE PROJECT MANAGER AND THE SPONSOR.
WORK BREAKDOWN SCHEDULE (WBS) –THIS IS A VISUAL REPRESENTATION
THAT BREAKS DOWN THE SCOPE OF THE PROJECT INTO MANAGEABLE SECTIONS
FOR THE TEAM.
MILESTONES – IDENTIFY HIGH-LEVEL GOALS THAT NEED TO BE MET
THROUGHOUT THE PROJECT AND INCLUDE THEM IN THE GANTT CHART.
GANTT CHART – A VISUAL TIMELINE THAT YOU CAN USE TO PLAN OUT TASKS
AND VISUALIZE YOUR PROJECT TIMELINE.
COMMUNICATION PLAN – THIS IS OF PARTICULAR IMPORTANCE IF YOUR
PROJECT INVOLVES OUTSIDE STAKEHOLDERS. DEVELOP THE PROPER MESSAGING
AROUND THE PROJECT AND CREATE A SCHEDULE OF WHEN TO COMMUNICATE
WITH TEAM MEMBERS BASED ON DELIVERABLES AND MILESTONES.
RISK MANAGEMENT PLAN – IDENTIFY ALL FORESEEABLE RISKS. COMMON RISKS
INCLUDE UNREALISTIC TIME AND COST ESTIMATES, CUSTOMER REVIEW CYCLE,
BUDGET CUTS, CHANGING REQUIREMENTS, AND LACK OF COMMITTED
RESOURCES.
PHASE 3:PHASE
THIS PRESENTS MEAT OF THE PROJECT, AS WELL AS THE TASKS COMPLETED DURING THE EXECUTION PHASE INCLUDE:
PROJECT EXECUTION

1. DEVELOP TEAM
2. ASSIGN RESOURCES (LABORS, TOOLS, EQUIPMENT)
3. EXECUTE PROJECT MANAGEMENT PLANS (SCHEDULE TIME)
4. PROCUREMENT MANAGEMENT IF NEEDED
5. PM DIRECTS AND MANAGES PROJECT EXECUTION
6. SET UP TRACKING SYSTEMS: A PROJECT TRACKING SYSTEM ASSISTS YOU TO RECOGNIZE ALL OF THE TASKS THAT ARE
REQUIRED TO COMPLETE YOUR PROJECT SUCCESSFULLY ON TIME.
FOR MORE INFORMATION: PROJECT MANAGEMENT TRACKING - PROJECT CENTRAL TRACK PROJECTS VISUALLY.HTML
7. TASK ASSIGNMENTS ARE EXECUTED
8. STATUS MEETINGS
9. UPDATE PROJECT SCHEDULE
10. MODIFY PROJECT PLANS AS NEEDED
WHILE THE PROJECT MONITORING PHASE HAS A DIFFERENT SET OF REQUIREMENTS, THESE TWO PHASES OFTEN OCCUR
SIMULTANEOUSLY.
PHASE 4: PROJECT PERFORMANCE/MONITORING
THIS IS ALL ABOUT MEASURING PROJECT PROGRESSION AND PERFORMANCE AND ENSURING THAT EVERYTHING HAPPENING
ALIGNS WITH THE PROJECT MANAGEMENT PLAN. PROJECT MANAGERS WILL USE KEY PERFORMANCE INDICATORS (KPIS) TO
DETERMINE IF THE PROJECT IS ON TRACK. A PM WILL TYPICALLY PICK TWO TO FIVE OF THESE KPIS TO MEASURE PROJECT
PERFORMANCE:

Key performance
indicators
(KPIs)

Project Quality Effort and Project

Objectives Deliverables Cost Tracking Performance
•PROJECT OBJECTIVES: MEASURING IF A PROJECT IS ON SCHEDULE AND BUDGET IS AN
INDICATION IF THE PROJECT WILL MEET STAKEHOLDER OBJECTIVES.

•QUALITY DELIVERABLES: THIS DETERMINES IF SPECIFIC TASK DELIVERABLES ARE BEING MET.

•EFFORT AND COST TRACKING: PMS WILL ACCOUNT FOR THE EFFORT AND COST OF RESOURCES
TO SEE IF THE BUDGET IS ON TRACK. THIS TYPE OF TRACKING INFORMS IF A PROJECT WILL MEET ITS
COMPLETION DATE BASED ON CURRENT PERFORMANCE.

•PROJECT PERFORMANCE: THIS MONITORS CHANGES IN THE PROJECT. IT TAKES INTO

CONSIDERATION THE AMOUNT AND TYPES OF ISSUES THAT ARISE AND HOW QUICKLY THEY ARE
ADDRESSED. THESE CAN OCCUR FROM UNFORESEEN HURDLES AND SCOPE CHANGES.

DURING THIS TIME, PMS MAY NEED TO ADJUST SCHEDULES AND RESOURCES TO ENSURE THE
PROJECT IS ON TRACK
PHASE 5: PROJECT CLOSURE
THIS PHASE REPRESENTS THE COMPLETED PROJECT. CONTRACTORS HIRED TO WORK SPECIFICALLY ON THE PROJECT ARE
TERMINATED AT THIS TIME. VALUABLE TEAM MEMBERS ARE RECOGNIZED. SOME PMS EVEN ORGANIZE SMALL WORK EVENTS
FOR PEOPLE WHO PARTICIPATED IN THE PROJECT TO THANK THEM FOR THEIR EFFORTS. ONCE A PROJECT IS COMPLETE, A PM
WILL OFTEN HOLD A MEETING – SOMETIMES REFERRED TO AS A “POST MORTEM” – TO EVALUATE WHAT WENT WELL IN A
PROJECT AND IDENTIFY PROJECT FAILURES. THIS IS ESPECIALLY HELPFUL TO UNDERSTAND LESSONS LEARNED SO THAT
IMPROVEMENTS CAN BE MADE FOR FUTURE PROJECTS.

ONCE THE PROJECT IS COMPLETE, PMS STILL HAVE A FEW TASKS TO COMPLETE. THEY WILL NEED TO CREATE A PROJECT
PUNCHLIST OF THINGS THAT DIDN’T GET ACCOMPLISHED DURING THE PROJECT AND WORK WITH TEAM MEMBERS TO
COMPLETE THEM. PERFORM A FINAL PROJECT BUDGET AND PREPARE A FINAL PROJECT REPORT. FINALLY, THEY WILL NEED TO
COLLECT ALL PROJECT DOCUMENTS AND DELIVERABLES AND STORE THEM IN A SINGLE PLACE.

TIP: USING A CLOUD-BASED SOFTWARE SOLUTION IS AN EASY WAY TO COLLECT AND SAVE ALL PROJECT
DOCUMENTS IN ONE LOCATION THROUGHOUT THE LIFE OF THE PROJECT.