IT Projectmanagement Phases of the Project life cycle ■ Development Phase The project team creates a more detailed project plan aa more accurate cost estimate A more thorough Wbs This phased approach minimizes the time and money spent developing inappropriate projects aa project idea must pass the concept phase before evolving during the development phase Context and processesContext 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