At each iteration you’d still have somewhere to sleep. You’d build several iterations of structures to live in: first a tent, then a shed, then a cabin, then a home. Imagine building a home, that is, a product to serve the use-function of giving shelter. With the iterative life cycle approach, you do have some high-level project management plans in the initiation stages, but you also break down the project into a series of functional versions, that is, iterations which can already be used, albeit to a lesser extent. The next two life cycle types, iterative and incremental, share a lot in common, but with some key differences. The Waterfall method or work breakdown structure, or WBS, are both effective for full plan, predictive project life cycles, as both require milestones to be met by everyone or most collaborators at each stage before advancing to the next one. In other words, your clients should be able to safely predict when they will get their product, how much it will cost, and what functions it can successfully perform. You will also make your project scope, timeframe and costs very clear to your team, as well as to your stakeholders and clients who will expect you to remain as close to this project scope as possible. Here you will create a product backlog detailing exactly what your product intends to do. You set clear milestones, and then try to stick to them as much as possible. This is where you will plan every stage, iteration and increment during a strong initial planning phase. You can also call this the full plan project life cycle. The first type of project life cycle management is the predictive life cycle. Sometimes you can use a hybrid approach to full life cycle project management. You don’t have to stick to one kind too strictly. On top of this, there are many types of project management techniques that team members can use. These are the predictive style, the iterative, the incremental and the agile project management frameworks. What are the 4 different types of project life cycles?īefore we get into the actual phases of project life cycle management, let’s talk a little about the four different types of project life cycle methods out there. Many of these have great project planning templates, Gantt chart tools, Kanban boards and team communication features. There are many great project management CRM software solutions that can help with project life cycle management. If you’re still thinking, well, what is project management in general? We have an article covering that you might want to look at first. It’s important to always recall your project charter that's set up during the initiation, and even more so, the project scope done during planning.īut above all, it’s key to be aware of the agreed-upon project management styles that all collaborators will employ throughout the project life cycle, as well as to the commitments to the stakeholders and clients. This is especially clear during the execution and monitoring phases, which are the phases most people think of when thinking of a PM life cycle. The life cycle of a project is so crucial because it allows team members to envision a project in all its permutations. This is because the life of a project is not always a singular linear existence, but can diverge, converge, pivot or reverse depending on circumstances. Will there just be a high-level set of project goals, or will there be a finely planned project scope? Why is the life cycle of a project important?Ī project’s success is more or less determined by the level of attention to the stages of a project life cycle. So when looking at the question, what is the project management life cycle, often you first want to be able to answer this first question regarding methodologies. This is about more than a series of tasks and activities, but considers how the right people, tools and ideas will come together to reach some greater project goal.Ī project life cycle can be said to describe two things: a project management methodology and the phases of a project from initiation to completion. The project life cycle definition is a bit more all-encompassing. So you want to know the definition of a project life cycle? The first thing to know is that it is not exactly the same as a project phase or project stage, as those are components of a PM life cycle. What is a project life cycle? Our definition
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