A project life cycle depict the linear progression of a project, from defining the project through making a plan, executing the work, and closing out the project. Dividing the project into phases permits for increased project control by the performing organization. These phases are usually sequential and overlapping.
Project life cycles can vary depending on the industry, the organization, or perhaps the kind of project that's being conducted. There are sometimes transitions between the phases that need some type of handoff or information or data component transfer.
Generally speaking, staffing levels and costs are less at the beginning of the project life cycle and then rise during the middle. Risk, or uncertainty, however, is more at the beginning of the project life cycle and reduces as the project becomes progressively defined.
Each project life cycle produces only one single project.
Let us compare the above project life cycle with product life cycle
Product life cycle is also sequential but they are not overlapping phases.
It doesn't matter what the product is , every product goes through the same product life cycle
We start up with an Idea, Create the Idea , Introduce the idea in the market, It rose , It matures , It declines then it retires
For Example : It could be a Cell Phone or a clothing item or Coca Cola
Within a product life cycle there can be multiple project life cycle , so it is one to many relationship i.e one product life cycle against multiple project life cycle
In the above example of coca-cola, every time coke enters a new market , they do their branding, a major new commercials , they add a new product line anything like that are projects within a product life cycle so it is one to many relationships
Comparison
I hope you found this article valuable and you learn something about difference between project life cycle and product life cycle
You May also like :-
What is a Project ?
Difference between Project and Operations
What is Progressive Elaboration ?
Difference between Enterprise Environmental Factors Versus Organizational Process Assets
Project Statement of Work Versus Business Case
http://pmbypmp.blogspot.in/2016/05/corrective-actions-versus-preventive-actions-versus-defect-repair.htmlCorrective Actions Versus Preventive Actions Versus Defect Repair
Project life cycles can vary depending on the industry, the organization, or perhaps the kind of project that's being conducted. There are sometimes transitions between the phases that need some type of handoff or information or data component transfer.
Generally speaking, staffing levels and costs are less at the beginning of the project life cycle and then rise during the middle. Risk, or uncertainty, however, is more at the beginning of the project life cycle and reduces as the project becomes progressively defined.
Each project life cycle produces only one single project.
Let us compare the above project life cycle with product life cycle
Product life cycle is also sequential but they are not overlapping phases.
It doesn't matter what the product is , every product goes through the same product life cycle
We start up with an Idea, Create the Idea , Introduce the idea in the market, It rose , It matures , It declines then it retires
For Example : It could be a Cell Phone or a clothing item or Coca Cola
Within a product life cycle there can be multiple project life cycle , so it is one to many relationship i.e one product life cycle against multiple project life cycle
In the above example of coca-cola, every time coke enters a new market , they do their branding, a major new commercials , they add a new product line anything like that are projects within a product life cycle so it is one to many relationships
Comparison
- Project life cycle varies as per Industry, Organization, depends on the methodology
- Sequential overlapping phases
- Product life cycle remains the same regardless of what the product is
- Sequential but not overlapping phases
I hope you found this article valuable and you learn something about difference between project life cycle and product life cycle
You May also like :-
What is a Project ?
Difference between Project and Operations
What is Progressive Elaboration ?
Difference between Enterprise Environmental Factors Versus Organizational Process Assets
Project Statement of Work Versus Business Case
http://pmbypmp.blogspot.in/2016/05/corrective-actions-versus-preventive-actions-versus-defect-repair.htmlCorrective Actions Versus Preventive Actions Versus Defect Repair
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