Project Management Life Cycle
We all know that Project is an endeavor that has a
definite start and end. Thus, it makes it all the more important to have well
defined life cycle in place. Life cycle is helpful in laying out transparent
and time bound entry and exit points throughout the project stages.
Time boxing the stages ensures we stay on
track and deliver with quality. One of the key objectives of any project is
always having a balance among the triple constraints – Time, Cost & Quality.
The better the balance, better the chances of the project being successful.
No matter what project it is that you’re
preparing for, the project management life cycle can assist you and your team
in narrowing the project's focus, keeping its objectives in order and finishing
the project on time, on budget and with minimum surprises (unwanted)!
PMI is the world’s largest nonprofit
membership association for the project management profession. It has set the
standards for project, program, and portfolio management and offers training
and certifications. The gold standard of certification from the association is
the Project Management Professional (PMP) certification.
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