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Project Managemen (Types of Project (Project scope: This describes the…

- - - - Phase #1: The Conceptualization Phase This can also be referred to as the ‘Initiation Phase’ and is the starting point of any project or idea. For the Conceptualization Phase to begin, a strategic need for the project or service must be recognized by upper management.
      - Phase #2: The Planning Phase The second phase of the project management life cycle is referred to as the Planning Phase. Once management has given the OK to launch a project, a more formal set of plans—outlining initial goals—is established.
      - Phase #3: The Execution Phase The third phase is labeled Execution. This is when the actual work of the project is performed. Required materials, tools, and resources are transformed to reach the project goals. During this phase, performance is continually measured to ensure the project is successful.
      - Phase #4: The Termination Phase The fourth and final phase is called Termination Phase, also referred to as Project Closure. This phase begins once the project has been completed.