P1 Illustrate Typical Phases of A Project Life Cycle

There are 4 steps involved in the process of a project life cycle, these are the following:
Process 1- Project Initiation:

This is the first stage of the process life cycle where a individual would need to consider what the purpose of the project is that they are going to create, the target audience, who may be affected if any, what is the main criteria of the project. what might it cost to fund the project or even what are the benefits of the project.

Process 2- Project Planning:

This is the second stage of the process life cycle where a individual would need to nominate team members that will be taking part and having their own individual input in the project. The individuals involved in the project will also need to consider any sort of targets that may need to be met, any major milestones such as a timeframe of the starting date of the project and the deadline date of the  project which is where it should be complete or even a deadline date for the 1st draft regarding the strategy of the project.

Process 3- Project Execution:

This is the third stage of the process life cycle where the project has had approval from a somebody such as a senior manager who is overlooking the whole project for example and the project is carried out. Here it is also fundamental that the individuals that are part of this project stick to the strategy that has been agreed and overlook their own individual parts of the project that they are working on. As well as this it is as equally as important that the person overlooking the whole project i.e. the project manager ensures that they take control of the project and ensure that things do not get out of hand for example if the project was building a skyscraper within a city here in Britain the project manager would need to ensure that all the materials such as sand and cement are all delivered on time and on schedule by the supplier to ensure that there are no delays to finishing the project of building a skyscraper and it will be here that the project managers role comes in which will be to monitor and take control of this type of activity and ensure that the deadline to finish the project of building a skyscraper is completed within the set timeframe.

Process 4- Project Closure:

This is the fourth and final stage of the process life cycle where the individuals that are part of the project measure to see if they have met all the necessary requirements such as the deadline date for example, it may also be that the individuals that are part of the project decide to hold a celebration event to mark the project being a success if it was. The project team members also need to look if they have all come within the budget that they forecasted to fund the project or did it cost more to fund the project or even better did it cost less to fund the project?