Illustrate Typical Phases of a Project Lifecycle

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Here is an example diagram of a project life cycle.
The project starts with the initiation, this is where you need to define what your project is so you have a clear specification of what you want to achieve at the end. The next stage is planning, when planning it is important to make a clear and simple action plan. With this it will be easier for you to not only follow the plan, but also to check back at you plan and see what you still need to do. Financial plans are also vital to achieve your goals, Clear budgets and forecasts should be made to allow you to be ready for your costs. A action plan would also be useful so you are ready in case any unforeseen costs should arise The next stage is project execution. This stage is obvious, you build your project and implement it. The final stage is project closure, this is where you evaluate the project and review what you could change, after a while of testing your project you can write a comprehensive review of what you need to change and fix with your project. It is also important to communicate throughout the project. If you are working as part of a large team communication is essential to achieving your goals. Poor leadership and lack of direction is main reason why a project can fail, this is linked with planning in that if the team members don't know whats going on they can't work.

Key reasons why a project can fail:

The first reason is poor planning. Big projects can be very complicated, if your team are not sure what they are supposed to be doing there will be sections missing, there may even be people working on the exact same thing. Also, as shown by the second example bellow, not accounting for all factors when planning can result in failure. Financial planning is also essential for a leader to correctly budget the project and allocate each section a suitable spending limit. Without a good financial budget that allows for unexpected costs and problems, the risks...
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