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The all-important second step of any successful project management life cycle is
planning and should include a detailed breakdown and assignment of each task of
your project from beginning to end. The Planning Phase will also include a risk
assessment in addition to defining the criteria needed for the successful completion
of each task. In short, the working process is defined, stake holders are identified
and reporting frequency and channels explained.
3 & 4) Execution and Control:
Steps Three and Four take you into deeper water. When it comes to the project
management cycle, execution and control just may be the most important of the
five steps in that it ensures project activities are properly executed and controlled.
During the Execution and Control phases, the planned solution is implemented to
solve the problem specified in the project's requirements. In product and system
development, a design resulting in a specific set of product requirements is created.
This convergence is measured by prototypes, testing, and reviews. As the Execution
and Control phases progress, groups across the organization become more deeply
involved in planning for the final testing, production, and support.
Q5. What is purchase cycle? Explain the key steps involved in the purchase
cycle of a project.
Q6. Explain the various elements of project control.
Answer. Five Essential Elements of Project Management:
Accomplishing any task, particularly one involving multiple volunteers scattered
around the country or world, is always easier when standards are in place. A strong
advocate of standardization and project management, the Project Management
Institute, Newtown Square, Pennsylvania, is no stranger to the methodologies of
standardization and has written the book on project management--literally. A Guide
to the Project Management Body of Knowledge (PMBOK Guide), published in 2000
by the Project
SUMMER-2015
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