Project Planning & Management - Aspects of Development

Akampurira Abraham

Mar 2013 · GRIN Verlag

About this ebook

Doctoral Thesis / Dissertation from the year 2011 in the subject Business economics - Business Management, Corporate Governance, grade: B, ( Atlantic International University ) (BUSINESS MANAGEMENT AND ECONOMICS), course: REGIONAL DEVELOPMENT. - Development Studies, language: English, abstract: A project comprise a series of activities (investments) that aim at solving problems within a given time frame with a clear set of objectives for man’s benefit. It is an undertaking that involves the commitment of scarce resources in the expectation of future benefits. According to Heagney (2012: 2), a project should have a definite starting and end point (time), a budget (cost), or a certain magnitude of work and specific performance. Before achieving the objectives, a project goes through several stages of a project cycle. The Project life Cycle refers to a logical sequence of activities to accomplish the project’s goals or objectives. Regardless of scope or complexity, any project goes through a series of stages during its life. The first stage is the birth phase or Identification. In this stage the outputs and critical success factors are defined. This is followed by a Planning phase, characterized by breaking down the project into smaller parts/tasks. In the Execution phase, the project plan is executed, and lastly a Closure or Exit phase, marks the completion of the project. The project cycle has seven stages, each stage links with the preceding one and leads forward to the next one. These include Identification, Preparation, Appraisal, Implementation, Monitoring and Evaluation and winding up.[...]