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A Solution to Improve Project Lifecycle Management


When people talk about the project lifecycle, what they're essentially talking about is a timeline. On one end of the timeline is the development phase of the project. It involves research, the allocation of responsibilities and other necessary tasks that will be performed before the project actually begins. On the opposite end of that spectrum is the day that you turn your project in on time and on budget. Project lifecycle management essentially allows you and your team to navigate between those two points as effectively as possible. If you're having a difficult time with your project lifecycle management process, there are a few key steps that you an take.

Improving Project Lifecycle Management

Understanding the Concept

One of the keys to improving project lifecycle management is to break the concept down into its core components. A true understanding of those components will help you better identify the work that you've already done, the progress you've already made and, most importantly, what still needs to happen for success.

The five major phases of project lifecycle management include the initiation phase, the planning phase, the execution phase, the controlling phase and the closing phase.

Pay Particular Attention to Initiation

If you don't pay the appropriate amount of attention during the initiation phase of project lifecycle management, you are essentially doomed before the project actually begins. This is the part of the project where team members are assigned, managers are appointed, all necessary and supporting documentation is collected and more. This is also the part of the process where the overall feasibility of the project is carefully studied to help mitigate certain types of risks down the road.

Oracle's Primavera Unifier can help you during this part of the process by providing you with an easy solution that can be used to collect this information, dole out responsibility and more.

Planning

A huge part of project lifecycle management involves planning. Planning not only for what you hope to happen, but for what you hope doesn't. You can use resources like Oracle's Primavera Unifier to help define the overall project plan, the financial plan, a plan for mitigating risk and more. Having these plans in place will help make sure that you have a road map to success at all times.

Project lifecycle management is something that people in leadership positions will worry about on a daily basis. By adopting a set of best practices and using resources that are available to you like Oracle's Primavera Unifier, you can create a wide range of enhancements that will significantly improve your project lifecycle management process moving forward.

Key Takeaways:

  • Oracle's Primavera Unifier is a valuable tool for the project lifecycle management process because it includes a feature set that will be used on a daily basis.
  • Planning is one of the keys to improving project lifecycle management because it provides you with actionable information that you can use moving forward.
  • The initiation phase is integral to project lifecycle management, as you're making sure that all of your resources are in place before the process begins in earnest.

Project management software like Oracle Primavera offer your business the organization and structure you need to manage all the tasks that are a part of every project.

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