PHASES OF THE LIFE CYCLE OF PROJECTS AS A KEY FACTOR IN THE SUCCESS OF THEIR IMPLEMENTATION
Authors: Zaverbnyi Andrii ,   Lviv Polytechnic National University, Ilnytskyi Vitalii ,   Lviv Polytechnic National University
Published: July 2024

This article describes the importance of monitoring and implementing projects according to the life cycle, which is an important factor in their success. Implementation of the project requires clearly defined stages of its development. These stages may differ depending on the field of activity and management system. After determining the stages of project development, it is necessary to plan each of them in detail, taking into account resources, time and other constraints. It is very important to have a clear strategy for each stage to avoid delays and misunderstandings. In addition, it is necessary to carefully monitor the progress of the project in order to identify and solve problems in time. Communication is a key element of successful project implementation, so it is necessary to ensure effective exchange of information between all its participants. It is also important to consider possible risks and to develop a plan for their management in advance. After the completion of each stage of the project, the results must be evaluated to ensure that they meet the goals and requirements. Even after the completion of a project, it is important to analyze all aspects of its implementation to learn from experience and improve processes in the future. Project monitoring and implementation are critical components of any successful endeavor, requiring a structured approach that aligns with the project life cycle. This cycle typically consists of several stages, each with its own set of tasks and goals. The exact stages can vary based on the nature of the project and the management framework being used. However, regardless of the specifics, careful planning and execution are essential to ensure project success. The first step in implementing a project is to define its stages clearly. This involves breaking down the overall goal into manageable parts, each with its own set of tasks and objectives. Monitoring the progress of the project is crucial to its success. Regular meetings should be held to assess progress, identify potential problems, and make necessary adjustments. Risk management is another important aspect of project implementation. Potential risks should be identified early on, and a plan should be developed to mitigate them. Evaluation is also critical at the end of each stage of the project. This involves assessing the results against the original goals and objectives to ensure that they have been met. Even after the completion of a project, it is important to conduct a thorough analysis of the entire implementation process. This helps to identify areas for improvement and allows the team to learn from their experiences. Effective project monitoring and implementation are essential for project success. By following a structured approach that includes clear planning, regular monitoring, effective communication, and risk management, projects can be completed on time and within budget. Additionally, evaluating the results and learning from experience helps to improve processes and ensure future success.