A project’s life cycle is the series of stages that it goes through from beginning to end. It is an essential component of project management and the foundation for success. Three of the most common project life cycles are predictive, design, and hybrid. Each life cycle has distinct advantages and disadvantages, and it is critical to understand each to select the best approach for a specific project.
The predictive life cycle is the most traditional and widely used project life cycle. The project cycle entails breaking the project into manageable phases, each with its objectives and activities to be completed before moving on to the next. All project life cycles consist of five phases: initiation, planning, execution, monitoring and control, and closure (Project Management Academy, 2017; Marjanowski et al., 2017). The initiation phase is the first step in the project life cycle. It involves defining the project’s goals and objectives and determining who will be responsible. The execution phase guarantees actual work to be done to ensure all project deliverables are managed. The project manager ensures resources are available for easier coordination and teamwork building. The monitoring and control phase is where the project’s progress is monitored, and any necessary changes are made. The closure phase is where the project is evaluated, and the lessons learned are documented (Project Management Academy, 2017). The predictive life cycle comprises five phases for managing and completing projects with precise requirements and scopes.
Unlike other project life cycles, the design Life Cycle approach to project management is characterized by its focus on flexibility throughout the different stages and design process. This cycle is typically used for projects where the scope and requirements could be better defined at the outset and require more creative input from the project team. Design cycles are ideal for projects that require a high level of creativity and customer engagement and are complex. The primary benefit of this approach is that it enables project managers to rapidly develop and refine the project plan as the project progresses. However, because there is often a need for more structure and the project is subject to frequent changes, this type of cycle can be challenging to manage (Rana & Chudoba, 2020). Design cycles are ideal for projects that require a high level of creativity and customer engagement and are complex.
The Hybrid Life Cycle is a hybrid of the Predictive and Design approaches to project management, and it is differentiated from other project life cycles by its emphasis on combining the benefits of both. This cycle is typically used for projects where the scope and requirements need to be better defined at the start but require high predictability. The main benefit of this approach is that it allows project managers to rapidly develop and refine the project plan while also creating a schedule that accounts for the project’s variables. However, due to the lack of structure and the project being subject to frequent changes, this type of cycle can be challenging to manage (Harris et al., 2019). Hybrid cycles are ideal for projects that require a high level of customer engagement and complexity
In conclusion, the Predictive Life Cycle is a traditional project management method that works best for projects with a clear scope and timeline. The Design Life Cycle is a more adaptable approach that works best for projects requiring creativity and improvisation. The Hybrid Life Cycle approach combines the Predictive and Design Life Cycle approaches. It is best suited for projects requiring well-defined requirements and a high level of creativity and improvisation. Each project life cycle has steps and processes to ensure the project is completed on time and within budget.
References
Harris, T. M., Eranki, P. L., & Landis, A. E. (2019). Life cycle assessment of proposed space elevator designs. Acta Astronautica, 161, 465–474. Web.
Project Management Academy. (2017). The five traditional process groups explained – Project Management Academy. Web.
Marjanowski, J., Tomasiewicz, J., & Frączek, W. (2017). The electric-powered motorglider AOS-71–the study of development. Aircraft Engineering and Aerospace Technology, 89(4), 579-589. Web.
Rana, L., & Chudoba, B. (2020). Demonstration of a prototype design synthesis capability for space access vehicle design. The Aeronautical Journal, 124(1281), 1761–1788. Web.