Project Life Cycle

	Initiating
	Planning
	Execution
	Monitoring & Controlling
	Closing

Project Manager or Organization performing projects can divide projects into phases to improve management control and tracking. Collectively, the project phases are known as Project Life Cycle.

Project Life Cycle is different from Product Life Cycle. Usually, Project Life Cycle is a subset of Product Life Cycle to deliver a product and pass on to Operations.

Project Stakeholders

	Individuals and organizations that are actively involved in project
	whose interests may affect the project results
	examples of Project Stakeholders: Project Manager, Project Sponsor, Customer, PMO and Project Team members

In general, conflict and differences among stakeholders should be resolved in favour of the customer.

Project Organizational Structure

Organization Structure	Functional	Matrix			Projectized
Project Characteristics		Weak Matrix	Balanced Matrix	Strong Matrix
Project Manager's Authority	Little or None	Limited	Low to Moderate	Moderate to High	High to Almost  Total
Resource Availability	Little or None	Limited	Low to Moderate	Moderate to High	High to Almost Total
Who Controls the Project Budget	Functional Manager	Functional Manager	Mixed	Project Manager	Project Manager
Project  Manager's Role	Part-time	Part-time	Full-time	Full-time	Full-time
Project Management Administrative Staff	Part-time	Part-time	Part-time	Full-time	Full-time

Functional organization: team member  has a clear superior

Projectized: Project Manager has the most power

Matrix: It is common in most projects