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FREE SOLVED ASSIGNMENTS OF MBA SEMESTER II- MB0049 - Q1. Explain the phases of project management life cycle.

Answer: As in the case of a product that passes through various stages (introduction, growth, maturity, and decline) during its lifetime; project management also passes through a number of phases.

Analysis and evaluation phase: Indicates the first phase of the project management life cycle. It should be noted that the analysis phase and the evaluation phase are usually considered as separate phases. However, in view of the strong interconnection between these two phases, it is more sensible to describe them as a single phase. Analysis and evaluation phase acts as the foundation of project management life cycle. In this phase, it is important for a project manager to develop a thorough
understanding on the contractual obligations associated with the project.
Marketing phase: Indicates the second of the project management life cycle. In this phase, the project management team of the organisation develops a project proposal. In the marketing phase, the business group or marketing team or user and/or customer representative prepares a document known as Marketing Requirements Documents (MRD). A good MRD provides an outline that helps in introducing the setting of market or user context. For example, some of the introductory sections of any MRD sample could be:
Why is the product or service needed?
What is the targeted market segment or user group?
What is the most important requirement of that user group?

Design phase: Refers to the third phase of the project management life cycle. Design phase is mainly concerned with rendering a detailed description of the operations and functions of a project. It should be noted that the inputs that are identified and approved by the MRD serves as an input for the design phase. In the design phase, each requirement is addressed by preparing a set of one or more design elements. The design elements are prepared on the basis of workshops, interviews, and prototypes. The following are some of the important elements of a design phase:
Tables of business rule: Comprises management guidelines that are established by the higher authorities of the management.
Pseudo code: Indicates a code, which provides descriptive information to the members of a team. Pseudo code is not revealed to any person outside the team, and is known only by the team members of a project.
Functional hierarchy diagram: Indicates a diagram, which demonstrates the hierarchical relationship of all the project functions.
Business process diagram: Indicates a diagram, which demonstrates the workflow of various tasks and activities of a project in a sequence.
Inspecting, Testing, and Delivery phase: Refers to the fourth phase of project management life cycle that comes after the completion of the design phase. This phase is mainly concerned with ensuring successful implementation of the project, and mainly focuses on monitoring and controlling the progress of a project.
As this phase deals with observing, assessing, and reporting the project’s progress, it plays an important role in the successful completion of a project.The main objective of this phase is to determine whether a project is in line with the plan or not. In case a project deviates from the plan, the extent of deviation is determined in order to undertake remedial measures.
Post completion analysis phase: This is the fifth and last stage of the project management life cycle. An organisation mainly undertakes this phase after the completion of the project as it is mainly concerned with evaluating the performance of the project team after the completion of the project. Post completion analysis phase is mainly concerned with the following activities:
Recording the feedback received from the project managers, employees, and clients about the project.
Recording the lessons learned from the project. For instance, in case an organisation commits an error during a project, the organisation will keep note of this error in the post completion analysis phase so that the same mistake is not repeated in the future projects.

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