The increasing globalization and technification of business have generated great pressure to create new strategies that allow the development of methods and processes adaptable to new organizational environments.
Understanding, differentiating and establishing the life cycle of a project and product will help us to achieve objectives, processes and business opportunities, which will result in a competitive operational continuity over time.
The paradigm of a life cycle corresponds to continuous progress, through the development of a set of phases that are in some cases properly planned and its application is centralized in different business environments, engineering, environment, technologies, and even in Our daily life, since the interpretation in its definition could vary depending on the scope in which it is being applied.
The concept of life cycle, is a term that refers to the appearance, development and completion of the functionality of a given element. This is why a “life cycle” can be referred to in areas as distant as marketing, biology, technology, goods and services. The study of the life cycle in many of these disciplines has important discrepancies in its application.
I consider that it is possible to assert that the life cycle is an idea applicable to phenomena where there is change and transformation: in the life of an individual belonging to a species, or development of a product that will form part of a business gear.
Research conducted by the Project Management Institute; Organization specialized in project management, indicates that the failures in the execution of the projects are centralized in the following areas:
• 21% of projects fail because of changes in objectives that were defined at the strategic level.
• 31% of projects fail due to poor application of working methodologies.
• 48% of projects fail because of resource management, communication and conflict problems.
If we do an analysis of what is exposed in the research, we would be discovering that there are criteria found in the moment of being able to determine the differences between the life cycle of a product and the life cycle of a project.
This indicates that organizations do not have a maturity level in project management in their business structures.
The life cycle of a project will determine the phases required to achieve the goal to be met, in other words; What do I need to do to reach the goal? This allows me to carry out a whole strategy of development and implementation of the good or service.
The project management process groups (initiation, planning, execution, tracking and control, closing) are what I will need to control the life cycle of a project.
All these components in an integral way, will be developed very systematically to achieve the desired expectations.
The management of projects is to achieve the appropriate balances, the importance of incorporating these balances into our life cycle and to seek the best design to be made based on the available time, resources, requirements and scope to be established.
Our impetus for trying to use new methods, should be well received in times of much change as we are currently living.
Resolving internally whether our processes or methods will be carried out as before or adopting new approaches based on a good study of circumstances and careful decision making leads us to be aware of the need to take risks in order to move forward.
All that is worth in this life is a risk, which to do the projects with novel methods is a risk that is worth running, considering the level of tolerance of the organization.
Being able to keep in mind the scope of a project and product life cycle, together with the different constraints that are formulated, will help to embark on a path of success in achieving each of the objectives formulated for The success of the organization.
Organizational strategies that are focused on achieving competitive success in our market must impose techniques, tools and methodologies that strengthen each process or procedure, in order to achieve that organizational integrity between project management and corporate governance.