Many information technology projects can last several months and can consume large amounts of resources. Without effective IT project management of technology and IT assets, schedule delays and cost overruns can easily overwhelm the Information Technology budget.
With the exception of infrastructure projects, most technology projects are driven for business process improvement. These projects are co-managed by the requesting organization and the IT department. The IT department manages all the infrastructure projects.
The complete project cycle involves these stages:
Once the decision has been made to proceed with development, that project planning and scheduling are put into motion. In conjunction, risk assessment tracking is initiated to signal early warning indicators if the project is moving off track. In that case,
corrective actions can be taken to keep it on target and on budget.