What are the factors that decide the life cycle and flow of a project?

There are various stages in the development of the project and while planning to develop a project many factors and issues should be considered before getting into the project and moreover stages in the total life cycle is crucial for the successful implementation of the project. Moreover various reports should also be prepared for the project to be a successful one.

(a) Conceptualization:

It is the first stage in the project lifecycle. Conceptualization is the idea, thought, initial plan, first stage of thinking entrepreneur, manager or economic planner about his scheme, plan for elimination the existing problems in the existing operation or avail new opportunities prevailing.

 

(b) Definition of the project:

The definition phase of a system is mainly refinements of the elements described in the conception phase. All the sub-systems and elements of the proposed system are scrutinized ad defined.

§ Fabrication of final system performance requirements.
§ Preparing detailed plans.
§ Estimating cost, schedule, and performance.
§ Spotting areas of high risks.
§ Identify and prepare the documents required to system, such as procedures, documents, budgets and finance.

 

(c) Planning:

§ Rendition of plans conceived and defined.
§ Identification and management of required resources.
§ Manifestation of production, installation.
§ Determine sufficient allocated resources.

 

(d) Operational:

§ Virtual linking of project service to the system.
§ Evaluation of technical resources of the project.
§ Evaluation of adequacy of project supporting.

 

(e) Post accommodation and divestment plan:

§ Confirming customer satisfaction.
§ Arranging relevant project files.
§ Maintaining project accounts up to date.

 

Feasibility study report is prepared to support the investment proposal. Feasibilities for the various aspects related to technical, commercial and financial are examined in detail by the experts and consultants brought in feasibility study report. Feasibility study report is termed as a techno economic feasibility study. It is the primary report for the formulation of the investment proposal.

 

Preparation of detailed project report is further step in firming up the proposal. When an investment proposal has been approved on the basis functional report and the proposal is a major proposal, it would be necessary to detailed project report to firm up the proposal for the capital cost as well as the various facilities.

Post project evaluation and completion audit report (PCAR) it includes...
(i) Project planning
(ii) Project Organization
(iii) Financial management

 

Once the project starts project management, involves monitoring the progress of the project to ensure everything going according to the plan. The projects should have a clear vision, ambiguous projects are a waste of time and talent and money.

 

Before the project begins you need to know the exact result signal the project ends. Project financing is considered in some way or the other right from the time of project conception. Indeed project financing is intertwined with project planning, analysis and selection. Appraisal and evaluation, it basically deals with the Technical specification, Commercial aspects, and Finance.

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