Managing The Project Lifecycle
Typically, in an agile project lifecycle, a project manager can run a series of small experiments to get answers to these questions. Here are some reasons why the project lifecycle is important. Having a deep understanding of the various stages of the project lifecycle is important when it comes to developing new projects. Knowing the stages helps in computing the feasibility and viability of a new project.
You will be better able to answer these questions:
- Is it worth developing this project?
- Will it survive in the market?
- If it does survive, when can we expect to make money off of it?
Having a deep understanding of the various stages of the project lifecycle is important when it comes to developing new project. Knowing the stages helps in computing the feasibility and viability of a new project.
Product Lifecycle vs. Project Lifecycle
- A project is defined as an endeavor undertaken to create a service, product, or result. The project lifecycle has a definite beginning and end with a clearly defined scope and resources.
- The objectives of the project lifecycle and the product lifecycle are quite different. A project is used to achieve a pre-defined outcome that may or may not be a product.
- The product lifecycle may use many projects to achieve its goals, but the reverse is usually not true
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