This post is part of Series Business Intelligence – Tools & Theory
Currently running topic for this series is listed as below :
Series Business Intelligence – Tools & Theory
>>Chapter 1 : Business Intelligence an Introduction
>>Chapter 2 : Business Intelligence Essentials
>>Chapter 3 : Business Intelligence Types
>>Chapter 4 : Architecting the Data
>>Chapter 5 : Introduction of Data Mining
>>Chapter 6 : Data Mining Techniques
>>Chapter 7 : Introduction to Data Warehousing
>>Chapter 8 : Different Ways of Data Warehousing
>>Chapter 9 : Knowledge Management
>>Chapter 10 : Data Extraction
>>Chapter 11 : Business Intelligence Life Cycle<You are here>
Continuing from my previous post on this series, If you have missed any link please visit link below
We are going to Cover the Following Points in this article
- Enterprise Performance Life Cycle (EPLC) Framework Elements
- Life Cycle Phases
Enterprise Performance Life Cycle (EPLC) Framework Elements
Enterprise Performance Life Cycle (EPLC) Framework Elements describes the essential elements of the EPLC framework. The life cycle stages, stakeholders, performances of various phases and deliverables, exit factors, and project reviews. The EPLC framework is developed to offer the flexibility which is required to effectively handle risk, funds, and profits, while allowing for variations in project size, difficulty, scope, period, and approach.
The EPLC framework manages the performances, deliverables, and reviews of a project into various life-cycle stages. The EPLC framework offers a project management technique that direct the performances of project managers, industry owners, essential partners, IT representatives, and other stakeholders all through the life cycle stages of the project to make sure that a project viewpoint is maintained while scheduling, implementing, and while performing other procedures. Even though one of the purposes of the EPLC framework is to regulate the project management within the project based on most excellent practices, the framework also allocates certain methods to accommodate the particular conditions. For example, Volume, time duration, difficulty, and achievement strategy of each venture.
Execution of the EPLC framework in a project management is planned to minimize the risk within various projects and along with the investment groups. IT projects will be handled and executed in a planned way, using effective project management customs, and certifying good participation by industry stakeholders and technical specialists all through the project‟s life cycle.
Projects will be assessed for how well they have accomplished by their business purposes. Project performance will be evaluated against recognized business results and will be subjected to modifications as required.
Life Cycle Phases
The EPLC framework involves ten life-cycle stages. Below are the stages and a brief explanation of each stage:
1. Concept: This phase recognizes the superior level industry and functional needs which are essential to enhance the product and the overall advantages of the planned investment. The outcome of this phase is the agreement of group stakeholders of the initial project benefits, scope, price, plan, performance, and a vague evaluation of project estimates.
2. Initiation: This phase classifies the industry requirements, vague estimation of project expenditure and plan, and fundamental business and procedural risks. The effect of the primary stage is the resolution to invest in a complete business case evaluation, an agreed project contract, and initial project management schedule.
3. Planning: This phase identifies the entire development of the whole project management schedule and modification of project price, plan and performance baselines as required. Outcome of complete planning stage, sufficient project planning and adequate needs are determined to certify the development and project baselines.
4. Requirements Analysis: This phase creates thorough functional and non-functional needs. Also it creates Requirements Traceability Matrix (RTM) and award agreements if required. The effect of the Requirements Analysis Phase is award of necessary agreement and sanction of the requirements.
5. Design: This phase prepares the design document. The result of the design stage is finishing of industry product plan and successful completion of initial and comprehensive design reviews.
6. Development: This phase helps in developing code and other deliverables which are essential to assemble the industry product. The effect of the development stage is successfully completing of all coding and related documents; user, operator, and safeguarding documentation, and test scheduling.
7. Test: This phase does detailed testing and audit of the industry product‟s plan, coding, and documentation. The effect of the test phase is ending with acceptance testing and speediness for preparation and alteration of project plan.
8. Transition: This phase performs user and operator training, establishes focus to execute, and carry out the performance plan, including any efficient operation. The result of the transition stage is the successful accomplishment of complete production capacity and finishing of the post-implementation review.
9. Operations: This phase operates and handles the production method and carries out annual operational assessment. The result of the operations stage is that it successfully operates the assets against present price, plan, and performance standards.
10. Disposition: This final phase withdraws the assets when effective analysis signifies that it is no longer economical to activate the asset. The result of this phase is the planned and methodical decommissioning of the industry product with proper consideration of information archiving and safeguarding. Also it helps in relocation of information or operation of new assets, and implementation of programs learned over the investment life cycle phases.
In, EPLC framework lifecycle, each stakeholder plays an important role in implementation of the EPLC framework and the accomplishment of projects. The responsibility of every stakeholder differs all through the life cycle.
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