ABSTRACT
The project life cycle is driven by time and the need to reduce risk to an acceptable level. The project management processes are the core of the any rational management method. The processes should include the essential activities to be carried out by the decision makers, project sponsor, project manager and team managers, such as managing risks and issues, planning and reporting. The purpose of the authorize/terminate process is to ensure each stage of the project is started in the knowledge that the project is still required, has a viable plan and the risks are acceptable. In addition, the process is used to suspend (place on hold) a project if there are doubts over its viability and, if necessary, terminate it. The project life cycle is driven by time and the need to reduce risk to an acceptable level. It shows the typical activities to be undertaken in each stage in order to arrive at a successful conclusion.
