Challenges in product Life Cycle

Challenges in product Life Cycle

Challenges in product Life Cycle

Introduction

The main purpose of this paper is to make discussion on the aspects of the project life cycle and discuss the main challenges and the Project Management approaches in each of the main project phases from inception to de-commissioning. According to Ntamere, (1995) a Project is a discrete package of investment or endeavour, policy measures and institutional and other activities designed to achieve an objective or set of objectives within a designated period and involving the commitment of resources. To Osuagwu, (1997) a project simply means a series of related activities with a goal, a beginning, and an end. Hemuka, in his wisdom, in an unpublished lecture, described a project as a form of investment or development which entails the injection of scarce resources, and other materials including land with the aim of realizing its latent potentials in the form of yield, or for satisfying other social or economic benefits (Adams, 2008, p. 32). A project is a term that defines any sequence of events or process which entails the putting together of different resources towards the attainment of a goal. This paper discusses the challenges faced in the traditional construction procurement route. The main emphasis of this paper is to make discussion on the challenges faced from first stage till the last stage of the project life cycle in terms of traditional construction routes.

Discussion

Almost all organizations today in every sector of the economy conduct small and large projects. An advertisement for a brand-new cookie, construction of a large resort, design of a space shuttle, and a campaign for legislative election have its organization as projects by private and community organizations (Frame, 2007, p. 87). Even a memorable birthday party may be viewed as a small project prepared by a decision-maker. To date, considerable effort has gone into the field of project management by many researchers seeking to provide better problem-solving techniques. This study suggests an improved approach to solving problems associated with projects undertaken by organizations. This improved approach, set into a decision-theoretical framework, utilizes various graphical tools, mathematical models, dependence modelling, and sensitivity analyses. Through applications of this alternative method to various example projects, we show it to be more rational and inherently logical than decision-making techniques currently in use (Dwyer, 2001, p. 39).

Project management includes all efforts to coordinate and integrate activities in a coherent manner in order to accomplish the project's goals. The scope of project management takes in resources, cost, and time management Project management usually includes three phases: project planning, project scheduling, and project control (Daellenbach, 2004, p. 76).

To paraphrase V. Martin (2002), project managers use the term project in quite an unambiguous way, although it can include many different types of activities. It can encompass a small and individual project; for example, planning and holding a momentous celebration. It can also refer to leading construction; for example, a project to build a new hospital, government building, water project, or ...