Case study: The significance of each project phase

Case study: The significance of each project phase

Scenario:

  • Jason, a project manager at a virtual reality software company, rushes to create a proposal for Flight Simulators, Inc. without proper planning.
  • He estimates a $200,000 cost and six-week timeline, which are standard for his company’s platform.
  • However, the company’s software is incompatible with Flight Simulators, Inc.’s platform, requiring six months for development and another six months for testing, costing over a million dollars.
  • This leads to project failure before it even starts.

Correct Approach:

  • Jason requests additional time to prepare an accurate proposal.
  • Flight Simulators, Inc. grants him a week.
  • Jason involves all key players to estimate the project's cost, schedule, and resources.

Project Life Cycle Application:

  1. Initiating the Project:
    • Define project goals with Flight Simulators, Inc.
    • Gather stakeholders and team members.
    • Identify skill sets, timeline, and costs.
    • Document the project’s value.
    • Present and get approval for the proposal from leadership.
  2. Making a Plan:
    • Create a detailed project plan with deadlines, tasks, and schedules.
    • Ensure all team members and stakeholders are prepared.
  3. Executing and Completing Tasks:
    • Monitor and support the team in completing tasks.
    • Communicate schedule and quality expectations.
    • Keep Flight Simulators, Inc. updated and gather feedback.
  4. Closing the Project:
    • Deliver the completed training to Flight Simulators, Inc.
    • Discuss and document lessons learned.
    • Celebrate the team's hard work.

Key Takeaway:

  • Properly initiating, planning, executing, and closing a project leads to success and good working relationships.
  • Rushing through project phases can lead to significant risks and project failure.