Method123 Ltd Releases New Project Management Lifecycle

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Method123 Ltd, Project Management leaders have announced further advancements in the Project Management space by releasing a new Project Management Life Cycle.

La Habra, CA, May 27, 2008 -- Method123 has been actively researching the needs of project managers today and has found a gap in the project management life cycle space. They currently provide comprehensive project management templates online. By creating an improved Project Management Life Cycle process, they can help project managers to improve their project success.

The project management life cycle includes all of the templates, documents, forms, activities and tasks that a project manager would need to successfully undertake a project. For every task there is now a template and form to aid a project manager in completing it.

The Project Management Life Cycle consists of four phases that are vital in delivering a project. These include; Initiation, Planning, Execution, Closure. Each one of these stages must be 100% complete, in order to move forward to the next stage.

The Initiation phase involves starting up a new project by defining its objectives, scope, purpose and deliverables to be produced. The templates released supporting this process include; Business Case, Feasibility Study, Project Charter, Job Description, Project Office Checklist and Phase Review Form. The Business Case helps document the return on investment for a project, thereby creating a compelling reason for the approval of the project by the sponsor. The Feasibility Study template assists a project manager in conducting feasibility studies within their organization. The Project Charter template will help the project manager to define the scope of their project and set out a vision. The Job Description template lists all of the responsibilities of a Project Manager role within a project. The Project Office Checklist helps teams to improve the set up and running of a Project Management Office (PMO) within an organization. And lastly, at the end of the Initiation phase a Review Form is completed to tell the sponsor whether the project has achieved its objectives to date.

The Planning phase involves creating of a set of plans to help guide a team through the execution and closure phases of the project. The plans created during this phase will help Project Managers oversee time, cost, quality, change, risk and issues. They will also help manage staff and external suppliers, to ensure that delivery of the project is on time and within schedule. The templates consist of 10 Project Planning steps that a Project Manager must take to complete the project planning phase efficiently. The 10 steps will include the creation of a Project Plan, a Resource Plan, a Financial Plan, a Quality Plan, a Risk Plan, an Acceptance Plan, a Communications Plan, a Procurement Plan, a Plan to contract the Suppliers and a Phase Review Form.

The third phase in the project management life cycle focuses on the actual Execution of the project, which helps Project Managers build the physical project deliverables and present them to their clients for signoff. This is usually the longest phase in the Project Lifecycle. It is therefore the phase that consumes the most energy and the most resources.

The last and final stage of the lifecycle 'Closure' formally closes the project and then reports its overall level of success to the sponsor. Method123 Ltd provides two vital templates during this phase, being the Project Closure Report and Post Implementation Review. These help a Project Manager to successfully close a project.

The new Project Management Lifecycle release will boost success in a clients project related environment.

Released today by
For project management software, see
For a project management methodology, see


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Maria Johnson