Project Management Life Cycle Models - 1241 Words

Before I start discussing the five project management life cycle models, it is very important to understanding below project management landscape and its four Quadrants: Quadrants 1: Contains Traditional Project Management (TPM), this approach has a clear project goal and clear project solution. Quadrants 2: Contains Agile Project Management (APM), this approach has a clear project goal and not clear project solution. Quadrants 3: Contains Extreme Project Management (xPM), in this approach both project goal and project solution are not clear solution. Quadrants 4: Contains Emertxe Project Management (PMx), this approach has not clear project goal and clear project solution. According to (Wysocki, 2012) there are five Project†¦show more content†¦Ã¢â‚¬ ¢ The Incremental PMLC model takes longer than linear PMLC model which increase the cost, time, and effort required to execute the project. To mitigate this risk we should have a powerful monitoring and control tools. Those tools should help to keep the project on track with respect to project scope, budget, and schedule. 3) Iterative PMLC: This model follows APM approach. According to (Wysocki, 2012) An Iterative PMLC model consists of a number of process groups that are repeated sequentially within an iteration with a feedback loop after each iteration is completed. At the discretion of the client, the last process group in an iteration may release a partial solution . Risks, failures, and mitigation strategy: According to (Wysocki, 2012) below are the risks and mitigation plan for this model: †¢ The client involvement in this model is more than linear and incremental PMLC models. If the required degree of client s involvement and ownership is not available then the project will be on risk. To mitigate this risk we should have a clear definition of the client s roles, responsibilities, and availabilities. †¢ The Iterative PMLC model requires co-located teams. This is very difficult requirement because most of the projects have design offices and project consultants all over the world and the co-located teams are not possible. To mitigate this risk a well defined communication plan must beShow MoreRelatedVulnerability of Project Management Life Cycle (Pmlc) Model1351 Words   |  6 PagesThe five PMLC models according to Wysocki are as follows: 1. Linear PMLC model 2. Incremental PMLC model 3. Iterative PMLC model 4. Adaptive PMLC model 5. Extreme PMLC model Linear PMLC Model: This is one of the Traditional Project Management (TPM) method, it consist of the five process group, each performed once in the sequence: Scoping Planning Launching Monitoring and Controlling Closing. The final deliverable is not released until the closing process group is executed. (Wysocki, 2009:345)Read MoreVulnerability of Project Management Life Cycle (Pmlc) Model1366 Words   |  6 PagesThe five PMLC models according to Wysocki are as follows: 1. Linear PMLC model 2. Incremental PMLC model 3. Iterative PMLC model 4. Adaptive PMLC model 5. Extreme PMLC model Linear PMLC Model: This is one of the Traditional Project Management (TPM) method, it consist of the five process group, each performed once in the sequence: Scoping Planning Launching Monitoring and Controlling Closing. The final deliverable is not released until the closing process group is executed. (Wysocki, 2009:345)Read MoreProject Management Life Cycle1218 Words   |  5 Pagesï » ¿ Project Management Life Cycle Chi Zhang Herzing University MBA 631 Operations and Projects Management Dr. Gary Hanney Abstract To control the process of a project and manage the operation of a project, the theory of project management life cycle is widely used in nowadays business administration. 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