After having gone through this chapter, you should be able to
• Understand various phases of a project—its beginning and end, and also stages in between;
• Appreciate examples of some projects
Key Terms: Project Life Cycle, Identification, Formulation, Appraisal, Selection, Implementation, Feasibility Report, Commercial Appraisal, Economic Appraisal
As discussed earlier, a project has a beginning and an end, and the project has a path from origin to completion. These stages for the project path indicate the work breakdown structure, a hierarchical subdivision of work. It is also known as project life cycle which is a subdivision of the scope of work1 into various stages, each representing sequential phase of work. ...