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Projects: Basic Phases, Stakeholders, Selection Criteria

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I need some guidance and pointers to get going please:

What is a project?
What are the basic phases of the project lifecycle and their purposes?

What is a project stakeholder? What are some examples of project stakeholders? How are projects affected when stakeholders are not identified and addressed early in the project?

What are three project selection criteria? What do you think is the most important information required to select a project? How would you explain to your manager that a project that is important to his or her department is not beneficial for the organization based on the selection criteria?

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Solution Summary

The Solution provides a 1000 word response identifying the basic phases in a project life cycle, the purpose of each phase, provides a definition and examples of stakeholders, and provides a short description of three project selection criteria and their importance.

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What is a project?

A project is an endeavor with a defined beginning and end. It is typically undertaken to provide some benefit or fulfill a need.

What are the basic phases of the project lifecycle and their purposes?

The Project Life Cycle has 4 phases. There are different methodologies to manage a project but the phases are basically the same.

1) Initiation-In this phase, the scope of the project is defined. The Scope of a project defines the boundaries of a project, what it will and will not include. During the initiation phase, a project manager is appointed and team members are selected. The deliverables from this phase include:
a. Project Charter-This describes what the project is, how it will be approached and list the names of the stakeholders. Stakeholders are people who have an interest in the project.
b. Business Plan-This lays out the goals of the project, why they are attainable and a plan for reaching the goals of the project.
c. Project Framework-This is a checklist of questions that the project team should ask at the beginning of the project. They relate to the governance of the project and the relationships of the different stakeholders. Typical questions include:
i. Who is the project owner or sponsor?
ii. Who are the other stakeholders?
iii. Are the deliverables for the project defined?
iv. Who is part of the project team?
v. What are the team's operating rules?
d. Business Case Justification-What is the justification of the project. What problems will it solve and what needs will it meet and why are they important.
e. Milestones Reviews-This actually occurs repeatedly during the project. It is a review of what has occurred so far in the project and is designed to determine whether or not the project is ready to move into the next phase.

2) Planning-In this phase, each task in the project is defined and assigned. ...

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