Introducing the Project Lifecycle
The concept of a project lifecycle refers to the series of stages that a project goes through from its initiation to its completion. Each stage is marked by specific activities and deliverables that move the project closer to achieving its objectives. The project lifecycle provides a structured approach to managing a project, ensuring that it progresses in an organized and controlled manner.
Power Framework PPM comes with these project stages defined out of the box:
These can be configured to match your organisation's own process.
Project Tracks
Power Framework PPM uses the project field 'Project Track' to identify different project types (such as 'Full Track' and ' Lite Track') that have different process variations attached to them. In other words, the defined set of stages can vary for different Project Tracks.
By example, a 'Lite Track' Project Track may be set up to not feature a Benefit Realisation stage.
Content Control by Track and Stage
Project Tracks not only define the lifecycle stages that apply to a given project, they also allows us to vary the actual content of the project. By example, different sub-registers may be hidden for specific Project Track (e.g. not showing Lessons Learned for a project of a specific track).
Content available within the Project can also be configured to be specific to Project Stages. When advancing to the next stage new tab(s) of content will appear in the project. This allows us to make content relevant to each stage and helps users understand what data should be maintained in the context of the respective stage.
Project Stage Examples
Below discusses sample stage in further detail:
| Stage | Purpose | Key Activities | Deliverables |
|
Idea |
The Idea stage is the starting point of the project lifecycle. Here, potential projects are identified, and ideas are generated based on strategic needs, opportunities, or challenges within the organisation. |
Idea Generation: Identifying potential projects that could benefit the organisation and creating them in the system. Initial Screening: Evaluating ideas at a high level to determine their alignment with organizational goals and their potential value. Stakeholder Engagement: Discussing ideas with key stakeholders to gauge interest and gather preliminary feedback. |
List of potential project ideas, initial stakeholder feedback, and an early evaluation of the most promising ideas. |
|
Concept |
The Concept stage is where selected ideas are further developed into more detailed concepts. This stage involves exploring the feasibility of the idea and refining it into a viable project proposal. |
Feasibility Study: Conducting detailed assessments to determine whether the idea is practical and achievable. Concept Development: Defining the project’s objectives, scope, and potential benefits in greater detail. Preliminary Business Case: Developing an initial business case to justify the project, including potential costs, resource demand, benefits, and risks. Stakeholder Analysis: Identifying and analysing the interests, needs, and influence of potential stakeholders. |
Concept proposal, preliminary business case, feasibility study report, and stakeholder analysis. |
|
Initiation |
The Initiation stage involves formalizing the project based on the refined concept. The project is officially approved, and detailed planning begins. |
Project Charter: Creating a formal document that authorizes the project, outlining its objectives, scope, stakeholders, and initial risks. Project Team Formation: Assembling the project team and assigning roles and responsibilities. Detailed Planning: Developing the project management plan, including timelines, budgets, resources, and risk management strategies. Stakeholder Engagement: Ensuring that all key stakeholders are informed and involved in the planning process. |
Documents like Project Initiation document, detailed project management plan, and a finalized business case. |
|
Execution |
The Execution stage is where the project plan is put into action. The project team works to deliver the project’s outputs according to the established plan. |
Task Execution: Carrying out the tasks and activities outlined in the project plan. Resource Management: Allocating and managing resources effectively to ensure timely delivery. Cost Tracking: Monitoring the investment spend to ensure the project stays within budget. Communication: Keeping stakeholders informed of progress through regular status reporting. Risk and Issue Management: Addressing any risks or issues that arise during execution to keep the project on track. |
Completed project deliverables, progress reports, and updated project documentation. |
|
Closure |
The Closure stage marks the formal completion of the project. The focus is on finalizing all project activities, delivering the final outputs, and transitioning to operational use. |
Final Deliverable Handover: Transferring the completed product, service, or outcome to the client or operational team. Project Documentation: Finalizing and archiving all project-related documents. Post-Project Review: Conducting a review to evaluate the project’s performance, document lessons learned, and identify successes and areas for improvement. Stakeholder Sign-off: Obtaining formal acceptance of the project deliverables from stakeholders. Resource Release: Releasing project resources and closing contracts with vendors or third parties. |
Final project report, signed-off deliverables, and lessons learned document. |
|
Benefits Realisation |
Ensures that the expected benefits of the project are actually achieved and sustained over time. This stage often continues beyond the formal closure of the project. |
Benefits Tracking: Monitoring the actual benefits realized against the expected benefits outlined in the business case. Performance Measurement: Assessing the long-term impact of the project on the organization’s goals. Sustaining Benefits: Implementing any necessary actions to sustain and maximize the benefits over time. Stakeholder Reporting: Communicating the realized benefits to stakeholders and addressing any gaps between expected and actual outcomes. |
Benefits realisation report, updated business case with realized benefits, and ongoing monitoring plans. |
Advance Project to Next Stage
To advance the current stage of the project, click on the current stage icon and fill in the dialogue box, choosing ‘Progress to next stage’ as the Acceptance Status.
Next click then finally Save and Refresh.
Notice that new tabs may appear to show additional sub-registers appropriate to the new stage.
Note: the ability to progress a Project to the next stage may be reserved for specific user roles.