The Project Life Cycle consists of four main phases through which the Project Manager and his team try to achieve the objectives that the project itself sets.

The four phases that mark the life of the project are: conception / start, planning, execution / implementation and closure.

Each project therefore has a beginning, a central period, a completion and a final phase (successful or not). All phases that we will analyze in this article constitute the so-called Project Life Cycle .

Obviously, those mentioned are only the main phases of the project, which means the starting point for a further subdivision in sub-phases, activities and tasks, increasingly basic and detailed, necessary for the development and allocation of work among the resources.

For each phase or lifecycle activity, the project manager must have two clear things in mind:

• The objectives of each project phase: based on company constraints ranging from quality to timing and costs;
• Products (derivable): each activity must lead to results that can be tangible goods or a documentation or specific services, etc.

But now we specifically enter the four main phases of the project life cycle.

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“CONTENT INDEX”

The start-up phase
The planning phase
The execution phase
The closing phase

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Project Life Cycle: The initiation phase

During this first phase, the objective or “need” of the project is identified.

This can be, for example, the resolution of a business problem or the analysis and creation of a concrete opportunity.

An appropriate responce to the need can be documented in a business case with the recommended solution options.

A feasibility study is then conducted to verify if each option is in line with the objective and a final solution is determined.

The feasibility study asks questions about the feasibility of the project. Questions such as “can we do the project? Do we have the resources to do it?”.

Furthermore, a justification study phase of the project is also carried out, for example by answering the question “is the project necessary for this objective?”.

Once these analyzes have been carried out and the project is considered feasible and necessary, this is officially started and, in case it has not already been identified, a project manager is appointed.

The project team is thenidentified and involved, thus starting to take shape.

At this point you can then move on to the detailed planning phase.

Project Life Cycle: The planning phase

In this phase we start from the objective of the project and move on to develop it in as much detail as possible, planning the steps necessary to reach the final solution.

The individual tasks of the project are then identified, as well as the requirements that the resources must have and the strategy to follow.

A project plan is created that illustrates the activities, tasks and timelines.

The project manager coordinates the preparation of a project budget by providing cost estimates for labor, equipment and materials, if needed.

The budget is used to monitor and control the expenses incurred during the entire project phase.

Once the Project Manager has identified the work, prepared the strategy and the performance and estimated costs, the basic components of the planning process are complete.

It comes then the right time to identify and address any factor that may pose a threat to the success of the project. This part is called risk management.

Potential problems are identified, as well as the action that must be taken to avoid them, solve them or at least reduce their impact.

This is also a good time to identify all stakeholders and establish a communication plan that sets out the information needed to keep all the parties involved in the project informed.

Finally, the project manager will draw up a quality plan that includes the quality objectives, the control measures, also listing the criteria to be met  obtain the acceptance of the client – customer that can be the company itself.

Arrived here, the project has been discussed and planned in detail, and is ready to run and move on to the next stage.

Project Life Cycle: The execution phase

During the third phase, that of the implementation, the project plan is put into motion and the work is performed in concrete, following the steps structured in the planning phase.

It is important and fundamental to maintain control and communicate how – and when – necessary during this whole phase.

Progress is continuously monitored and appropriate  changes are made and documented as variations with respect to the original plan.

Whatever project  it is, a project manager usually spends most of the time at this stage.

During the execution of the project, people perform their tasks and progress information is exchanged through regular team meetings, so-called progress status meetings .

The project manager uses this information to maintain control over the project direction by comparing progress reports with the project plan, to measure the performance of activities and take corrective actions if necessary.

The main strategy should always be to bring the project back to its original course,that of the project plan drawn up in the previous phase. If this is not possible, the changes from the original plan must be recorded and the modified plan must be formalized.

During this step, project sponsors and all other stakeholders should be regularly informed about the progress of the work.

Each product result should be analyzed and accepted.

Once the results of the various steps have been produced and the client has accepted the final solution, the project is ready for closure.

Project Life Cycle: The closing phase

During this closing phase, the emphasis is placed on:

• the final results;
• the delivery of project documentation;
• the termination of supplier contracts;
• the release of project resources;
• the communication of the closure of the project to all the stakeholders.

The last remaining step is to conduct an analysis of what went well and what did not.

Through this type of analysis you gain experience and knowledge, are gained, factors that will help the project manager, and the team in general, for future projects.

Unfortunately, the closing phase is often underestimated and in many companies the project is delivered without further evaluation; it only matters if the project was a success or not.

In reality, it isn’t only important to conclude a project successfully, but also to be able to execute it in the way that was set in the original project plan.

There is no shortage of cases in which the objective has been achieved despite having experienced a phase of execution full of changes, delays and problems.

The closure phase also serves to analyze this, in order to avoid making the same mistakes in the future and not adequately assessing certain risks.

The four phases of this life cycle may vary according to the sector and the type of project, but in general they are valid in any area.

When a project manager follows Project Life Cycle taking into account all the factors of each individual phase, he will have already taken the first step towards success.

Tell us about your personal experience of success.

Project Management is not a static topic but evolves from year to year and follows the trend of industry and the labour market in general.

The trends we are seeing are influencing and will influence this profession more and more.

Some of these started a few years ago and gradually take hold, others have been born recently and also suddenly.

Knowing how Project Management evolves is necessary to maintain a strategic vision of the profession and the sector.

So let’s see what are the trends that will affect the project management sector.

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“Content Index”

The advent of artificial intelligence
Wearable technology
Smart Working and Remote Team

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The Trends of Project Management: The advent of artificial intelligence

We hear a lot about artificial intelligence and there exist a real debate around this topic.

As with any new trend, also  for this scenario are two currents of thought:

• those in favor who announce it as the “reality” of the future;
• and those who are skeptical, or even frightened, of the consequences that this evolution can have  in everyday life and in work.

Project management can also be influenced by artificial intelligence.

Therefore should we be favourable or frightened?

Specifically, when we talk about artificial intelligence applied to Project management, we talk about systems that can manage projects daily, as well as their progress without the need for human input.

Not only the simplest tasks will be automated, but an understanding of the key points of the project can also be developed.

In this way artificial intelligence can use this knowledge to perform more complex tasks, make recommendations and even make decisions.

Furthermore, an artificial intelligence system can save time by improving the results of a project.

Project Management managed by artificial intelligence is a service that goes beyond what is currently offered, for example, by so-called bots.

Not even an algorithm that applies machine learning to predict activity estimates, although interesting and useful, can be called artificial intelligence.

It’s only when you start to merge bots and algorithms that you start to see the true potential of artificial intelligence in Project Management.

Let’s try to hypothesize what artificial intelligence can do applied to the Project Manangement.

Here’re some concrete examples:

• Match the right resource to the right role: Project Managers will be able to perform resources according to the teams.  In fact, thanks to artificial intelligence, it will be possible, not only to match the right resource to the right team / project, but it will be possible to select upstream the resources suitable for a given project;
• Reduce downtime: artificial intelligence can analyse the performance and progress of each resource and assign a work /project based on the real capabilities of the individual;
• Create an ecosystem for knowledge management: when an employee leaves the company, part of his knowledge is non-transferable and goes with him. Artificial intelligence can also serve to centralize knowledge. Improving the coherence and quality of work will avoid “starting from scratch” when a change takes place;
• Improve resource performance, by minimazing effort: How many times are you not in the right mood, and you spend a lot of time on a simple task? How many times, on the contrary, do we manage to complete complex activities in a very short time? Thanks to the use of artificial intelligence, the project management system could associate the bestjobs/ task to be performed at the best time of day, suggesting the planning of activities in a personalized, unique and even variable way.
• Provide objective evaluation and vigilance without getting tired: by their nature, human beings can get tired and this can affect the quality and precision of work. An artificial intelligence system, on the other hand, is tireless and available 24 hours a day.

Of course there is not yet a system that integrates all these functionalities, but in the near future all this can become a real and concrete advantage.

There is still a long way to go in this field and the potential of artificial intelligence in Project Management is not yet fully developed.

New technologies, however, are working to realize and integrate these functionalities.

Project Management Trends: Wearable technology

The tendency in Project Management to the growing use of Wareable Technology seems unstoppable.

Wearable technology goes well beyond glasses, headphones or smartwatches that many might think when they hear this word.

Wearable technology devices not only help us count how many steps we take in a day or how many calories we burn, but can even improve our productivity in a project.

In fact, wearable devices have the ability to provide data in real time and to perform monitoring and localization functions.

These devices will establish a connection between workers and the digital platform.

In this way, the data will be used to analyse the workforce in order to increase efficiency and productivity.

Wearable technology can also simplify the process of managing daily activities.

Time, as well as the progress of the activity, can be scanned and collected on virtual worksheets to obtain a precise image of the flow.

But wearable devices will not only be used to analyze the workforce, but also to increase the level of employee health.

Even now, a growing  number of employers are encouraging their staff to wear fitness trackers to measure their health.

Indeed, it’s widely demonstrated that an increase in fitness levels is related to increased productivity, morale and job satisfaction.

In addition, many wearable technology devices have the ability to enable Project Managers in particular, but also those involved in team management, to keep track of strategic aspects , such as heart rate employees, stress and the level of fatigue, in ordere to maintain workplace performance.

This has the potential to decrease the burn out cases caused by projects that are too demanding for a resource.

For this reason, if an employee shows a high level of fatigue during a given job, the employer can choose to delegate these tasks to those who prove more suitable and “fresher”, allowing the first employee of the team to devote himself to lighter work.

Companies all over the world are also using wearable technology for fitness tracking to offer incentives to their employees. (For example, some companies in the United States offer cheaper health insurance  to employees who increase their fitness levels.)

The potential that wearable technology has in increasing productivity is the factor that is increasing its use in the workplace.

There are already studies and reports that highlight how the use of this technology actually increases productivity.

Project Management Trends: Smart Working and Remote Team

The sharing economy is proving that more and more companies are implementing the use of project teams with resources also operating remotely.

More and more workers are looking for the flexibility. The possibility of organizing, one’s time and hours of work and not being tied to a desk has become a must.

This trend is destined to grow.

In Italy, Smart Working (or agile work) is a reality: 305,000 workers have switched to this work modality. And the numbers will grow, especially in the large companies.

This is confirmed by the data from the latest research of the Smart Working Observatory at the Politecnico di Milano.

The benefits of Remote work are undeniable for the company:

• Improves productivity.
• Absenteeism is reduced.
• Costs for physical spaces are significantly reduced; in fact, several large companies are redesigning their offices, reducing the surface area.

Moreover, the Observatory considers a productivity increase of 15% for a worker who adopts an already tested smart working model.

The benefits of remote work and Smart Working also have an impact on the worker:
in fact, the Smart Workers are more satisfied compared to their colleagues who don’t adopt this working method.

Thanks to remote work the smart worker:

• Reduces travel time and costs. As the Observatory also shows by implementing only one working day a week remotely, an employee could recover even 40 hours in a year.
• It greatly improves the balancing of professional and private space (the so-called work-life balance).

So, remote teams offer great opportunities: more economy and more productivity if managed effectively and with the right tools. We’ll talk about it later in this blog.

In the meantime, a conclusive reflection: the scenarios change but the basic objective of the project management remains the same: deliver within the deadline and without exceeding the budget.

This our analysis, we would like to know yours. Do you see other trends that can help to innovate and simplify the Project Management?

Leave us your comment or your impressions on the evolution of Project Management.