12 They require a suite of tools. Various types of tools are used by the project
managers to improve their chance of success. They require a series of processes. Various management techniques and
processes to monitor and control time management, cost management, quality management, change management, risk management and issue
management.
8. Project life cycle
Project consists of a number of different phases that form its life cycle. In the early years of the development of modern project management
practices, it was common to see each phase of a project being planned, scheduled, and managed as a separate project, from start to finish of each
phase George, 2003. These phases comprise project initiation, project
planning, project execution and project closure Figure 2.
Figure 2. Project life cycle
Source: George, 2003
Project initiation: During this phase, managers develop the draft of the
project scope, project objectives, project reference and the draft of project schedule.
Project planning: This is the phase during which the project scope is
determined, team members are selected and deliverables are planned. perpustakaan.uns.ac.id
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Project execution: This is the most important phase during which key
deliverables are produced, monitoring and control are executed and operations are managed.
Project closure: Project closure is characterized by the end of the activities.
The project contract is ended and the team stops working.
9. Project advantages
The main purposes of projects are to solve the existing problems andor to make profits. Obviously, all projects have good impacts towards the
society. These advantages vary through the type of the project but generally each project has both social and economic advantages.
Whatever the size of the projects, they always create job opportunity. Projects give a chance to people to get a job, whether it is a direct or indirect
job. Concerning the economic advantages, various measures can be used to
assess them Glen and Burton, 1997, such as:
Total employment: Total employment reflects the number of additional jobs
created by economic growth. This is the most popular measure of economic impact because it is easier to be understood.
Aggregate personal income: Aggregate personal income rises as pay levels rise andor additional workers are hired. Either or both of these conditions
can occur as a result of business revenue growth. As long as nearly all of the affected workers live in the study area, this is a reasonable measure of the
personal income benefit of a project or program. Value Added: Value added is normally equivalent to Gross Domestic
Product GDP or Gross Regional Product GRP. It is a broader measure of the full income effect. This measure essentially reflects the sum of wage
income and corporate profit generated in the study area.
Business Output: Business Output is the broadest measure of economic
activity, as it generates the largest numbers. It includes the full level of business revenue, which pays for costs of materials and costs of labor, as
well as generating net business income.
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10. Project aspect and analysis
