IT Projectmanagement Phases of the project life cycle Concept Phase Managers usually briefly describe the project Develop a very high-level or summary plan for the project, which describes the need for the project and basic underlying concepts a preliminary or very rough cost estimate is develope d An overview of the work involved is created Work breakdown Structure- WBS Context and processes 11Context and Processes 11 Phases of the Project Life Cycle ◼ Concept Phase ◼ Managers usually briefly describe the project ◼ Develop a very high-level or summary plan for the project, which describes the need for the project and basic underlying concepts. ◼ A preliminary or very rough cost estimate is developed ◼ An overview of the work involved is created ◼ Work Breakdown Structure – WBS IT Project Management