In: Operations Management
Question : Apply each stage of the project lofe cycle (PLC) towards an Extension of Metro to Sharjah project. A business case, and a project plan that includes a work breakdown structure (WBS ) also be developed for the project.
Project Life Cycle (PLC) refers to a procedure observed by the project administrators while moving through different phases of project completion. In PLC the initiation phase referred as project conceptualization is the preliminary stage of idea generation and furthermore the strategic requirements of the project indeed should be identified and acknowledged by the top level management.
In planning phase of PLC prescribed and recognized set of plans are outlined acknowledging the primary goals of the project. In execution phase appropriate steps are initiated to actually start the project performance and accordingly the requisite materials, tools and equipments are arranged and conveyed to effectively and efficiently execute and implement the project goals and continuous project performance is measured to ensure its success.
Plan phase in PLC is basically concerned with scheduling and staffing of the projects. A project plan is determined and accordingly resources are allocated to various tasks of the project. Account & Bill phase is concerned with identifying and acknowledging revenue and financial opportunities which indeed facilitates to recognize the actual cost of the project.
Analyze phase was formed particularly to effectively and efficiently administer the complexities of the project in order to improve competency and performance by enduring the future trends by using the business intelligence data. It is basically regarded as a feedback loop facilitating teams and organizations with statistics and information from past completed projects with an objective to better prepare for the future.
Work breakdown structure (WBS) is referred as procedure of dividing a project's overall work into numerous more manageable hierarchy structured tasks. Furthermore the related scope and level of details indeed facilitate to represent the overall scope of the project while keeping the tasks manageable.
WBS is basically structured and designed as a top-down level procedure where the upper level of WBS are composed with logical level of work groupings pursued by the next stage of down level and so on. Thus facilitating the lowest-level component of WBS effectively and efficiently be programmed and scheduled and project expenditures and performances be effectually anticipated, examined and controlled. WBS approach can indeed be effectively applied to a complex underground project where it facilitates to effectively correlate the relationship between the attributes of a project and WBS and minimize the complexity of the model.