Understanding the Life Cycle of Projects

📚 This video is the first class in a course on project formulation and evaluation.

🔄 The key topic covered in this class is the life cycle of projects.

🔍 Students will learn about the different stages and the meaning of a project's life cycle.

🔄 Projects have a life cycle, just like humans and the phases of the moon.

🔑 The life cycle of a project consists of various stages that it goes through.

👥👥 Similar to humans, projects have a beginning and an end, with different stages in between.

🏗️ Projects go through different stages or moments from their beginning to their end.

🗼 The image of the Eiffel Tower represents a project at a certain stage.

📝 The first stage in the project's life cycle is the pre-investment stage, where analysis and information gathering take place.

📝 The project lifecycle consists of different stages, starting with the initiation phase where key documents and studies are conducted.

💰 During the investment phase, an investor provides the necessary capital to implement the project and significant resources are allocated to bring the project to life.

🚀 Projects are designed to produce tangible outcomes and are executed by a project director within an organization.

📊 Projects go through different stages: idea, investment, execution, and operation.

💡 During the investment stage, resources are allocated and a project director and team are defined.

🚇 The project concludes with the inauguration of the system and the transition to the operational stage.

📚 The operational stage is not considered a part of the project life cycle, but it is important to keep in mind as it allows for a comprehensive understanding of the project's progress.

⚙️ The operational stage is characterized by the project being fully functional and no longer requiring construction or design teams.

📝 The pre-investment stage involves the development of all necessary documents, studies, and designs for the project.

📝 The video is about the lifecycle of projects.

💡 The investment stage is where resources are allocated and teams are formed.

🏗️ This stage involves the construction, modernization, and development of deliverables.