IT Projecl managsment Phases of the Project Life Cycle ■ Development phase The project team creates a more detailed project plan a more accurate cost estimate aa more thorough WBs This phased approach minimizes the time and money spent developing inappropriate projects a project idea must pass the concept phase before evolving during the development phase Context and processes 12Context and Processes 12 Phases of the Project Life Cycle ◼ Development Phase ◼ The project team creates a more detailed project plan ◼ A more accurate cost estimate ◼ A more thorough WBS ◼ This phased approach minimizes the time and money spent developing inappropriate projects. ◼ A project idea must pass the concept phase before evolving during the development phase. IT Project Management