LO1

LO1

1. Project life cycle

   • Initiation
     • initiation is the first phase of the project management life cycle and in this stage, companies decide if the project is needed and how beneficial it will be for them.
   • Planning
     • The planning stage is where the project plans are documented, the project deliverables and requirements are defined, and the project schedule is created.
   • Execution
     • Project execution typically involves three primary components: following processes, managing people, and distributing information.
   • Evaluation
     • Evaluations provide important findings and recommendations which point out the positive and the negative aspects of the work being conducted.