The life cycle methodology is one of the most efficient paths you can take for your business opportunity to follow. This methodology is useful in the business world because of its nature. It deploys the most efficient means for a project manager to initiate, plan, execute, and conclude a project plan so a revenue stream can be established by an organization.
The path the life cycle methodology follows begins with the initiation phase. This is where the business plan and feasibility study are conducted to see if the business opportunity will be of a benefit to your organization. There is no need to go further with a project if the profit potential of the opportunity does not meet the goals and scope of the stakeholders. This phase is also the foundation on which your project will be established. [Read more…] about The Life Cycle Methodology