Having completed chapter 5 try some of the following homework questions and post your questions below and we give you feedback?
- Explain five distinct benefits of using a structured life cycle approach?
- List and describe five key phases of a project lifecycle, the activities undertaken during and outputs of each?
Remember each of the five paragraphs in a answer needs to include 2-3 sentences. According the the APM guidance notes this should include a a statement of fact about the list item that indicates why it has been selected and also a statement(s) clarifying, supporting, demonstrating further comprehension or application thereof.
I recommend three sentence describing the what, why it is important and then giving an example. So for instance
1) One benefit of a project lifecycle is it easily communicates the logical progressions of the project from one phase to the next. This is important to make sure projects follow a logical flow for example completing a consideration of the business case before committing significant funding and making sure a project management plan is prepared before committing major resources. An example of this might be the approval of the business case by the sponsor (and other senior management) before the project embarks on a detailed definition phase. This makes sure all the senior stakeholders as signed up to the project objectives before the planning starts in earnest. Without a defined lifecycle it is all to easy to get the cart before the horse.
Five more like this and your done for this question.
How useful is the project life cycle in project financial management? (100 marks).