What is the Project Lifecycle?

Originally posted on Deltek.com. Link here: What is the Project Lifecycle?

By Deltek

PROJECT LIFECYCLE OVERVIEW

Project-based businesses often refer to their projects by different names. But whether these firms call them a contract within the Government Contracting space, an engagement within Professional Services firms, or refer to them as a project within the AEC space, these organizations share the same ultimate goal—to win and deliver successful projects. Companies aim to optimize their processes throughout the project lifecycle and ensure the best outcomes regardless of project size, small-scale projects with clearly defined objectives or complex engagements involving multiple stakeholders and organizational dependencies. The project lifecycle is the operational framework of the five distinct phases that shows how these firms execute project excellence from win through delivery. This framework helps businesses see how to optimize their capabilities to deliver for their clients and grow their businesses.

5 BUSINESS CAPABILITIES OF THE PROJECT LIFECYCLE

DELTEK POWERS THE 5 PHASES OF THE PROJECT LIFECYCLE

We offer complete and integrated software solutions that connect and automate every stage of the project lifecycle, enhancing project intelligence, management and collaboration. With our industry-focused expertise and end-to-end visibility into project and financial performance, we empower businesses to make data-driven decisions, mitigate risks and deliver projects on time and within budget.

1. Win – We provide market intelligence and CRM solutions that help firms find and win new opportunities.
2. Manage – Our industry-leading financial management solutions enable businesses to create a good plan, optimize resources, and manage costs & risks.
3. Develop – People are at the center of the project lifecycle, and Deltek’s Human Capital Management solutions, integrated with financial management systems, help firms attract, develop and retain a modern workforce.
4. Deliver – Our project-based ERP solutions enable companies to gain the visibility and control they need to make the right business decisions.
5. Measure – Analytic capabilities within Deltek solutions make it easy for companies to measure performance at a granular level to ensure real-time insights to manage their business.