 |
| Project life cycle and management |
The project management life cycle is usually broken down into four phases: initiation, planning, execution, and closure. These phases make up the path that takes your project from the beginning to the end.
The project management life cycle describes high-level processes for delivering a successful project. For every $1 billion invested in projects by companies in the United States, $122 million was wasted due to lacking project performance, according to Project Management Institute Research. Wasted money and resources can be prevented with effective project management, as 57% of unsuccessful projects fail due to communication breakdown. In the phases of the project management life cycle, you come up with the idea for a project, define its goals, plan for its execution, and guide it to completion.
Download also:
- Planning and Schedule Free Templates
- Scrum Project Template in Excel
- Work Plan Template in Excel
- Over 500 Contract Templates Free Download
- Strategic Planning Checklist Template in Excel
Post a Comment