Business Information Technology Life-Cycle: A Project Management Approach

Credit: Adobe Stock

Introduction
Modern businesses are speeding up the integration of their processes and operations with information technology (IT) to increase efficiency and enhance operational performance. The process of integrating information technology is implemented through a cycle that involves planning and acquiring new assets and thereafter disposing of the old and obsolete ones. This process is undertaken in several stages that constitute the IT lifecycle; planning, procurement, deployment, usage, upgrade, decommission, disposition and salvage.

By implementing the IT cycle, a business organization can stay up-to-date with the current trends in the IT discipline. By integrating new and trendy IT assets and facilities, the business can realize its full potential by increasing performance and productivity, at the same time minimizing operational costs.
Each lifecycle is carried out through project management to ensure that every stage is completed as required hence completing each cycle successfully. The IT life cycle is a critical process that should be carefully planned, closely monitored, and precisely implemented to ensure the business integrates IT infrastructure as intended.

Project management constitutes several processes that ensure that a project is completed as required; phase management, planning, control, team management, communication, procurement, and integration. Through the several processes of project management, a business organization can carry out a successful IT lifecycle. The IT life cycle has had a great impact on project management processes in different industries – both negative and positive – at every stage of the whole cycle. The retail industry is an example of an industry whose operations have been impacted by the IT life cycle.

Before we get you excited about adopting modern and the latest computing technology in your businesses, let's take a back seat to explore the concept of project management. This detour will equip you with the relevant and latest project management knowledge on how you can plan and safely implement the plan to equip your business's processes and operations with modern IT solutions. If you are already familiar with the basic, and the core, concepts of project management, skip right to [Impact on Information Technology Life-Cycle]

Project Management Processes and Phases

Program and project management processes exist as the fundamental principles for a successful project. Each process in project management contains tools and techniques operating as inputs and outputs created at the end. Each output in one process acts as an input for another process of the project and program management. There exist several management processes which are summarized into project initiation, planning, executing, monitoring and controlling, and closing. Each of these processes is aligned to ensure that the program and project development phases are carried out as defined by the stakeholders. Further, the processes are aligned with the business's model and its goals and objectives. Each process is vital to program and project management as it acts as a component and a determinant of whether the project will be a success.

In the initiation phase, authorization is sought to proceed with the project. At this phase, the executive must give the go-ahead and pledge the resources required to pursue the project and see it through to completion. The planning phase involves developing the scope as well as defining the goals and objectives for the project. During the execution process, work is done as planned and as outlined in the project specifications. During program and project development the progress, changes in the scope and requirements, and other features of a project must be tracked, reviewed, and monitored to ensure that the progress is aligned with the project's goals and objectives. The monitoring and control process is critical as it increases the chances of successful completion of the project by reducing risk. Further, every project goes through the closing process where the project manager finalizes and cleans up the project's processes and documentation. Thereafter the project manager formally marks the project as complete and closed.

Implementations of tasks require a concrete plan to ensure the success of the project is at least guaranteed. Tasks are mostly defined in the project requirements and are broken down into basic activities that are assigned to functional units for implementation and execution. During the project implementation phase, a project manager is tasked with coordinating the various activities and the resources available to ensure the project's goals and objectives are met. In addition, each activity is aligned with the deliverables identified in the project scope. A project manager tracks and monitors how each task is executed until completion. Currently, there are program and project management tools that help project managers monitor and control project progress as well as resources.
Further, each task is usually assigned an implementation schedule, which guides the project manager as well as the team assigned to it on the delivery schedule of the task. This ensures the overall project is in line with the project schedule.

A project manager is provided with an array of options and tools that help implement, track and monitor the different tasks and their progress. This is done concerning the project schedule. A work breakdown structure (WBS) decomposes the project into basic units that can be executed independently. The tasks are assigned to teams responsible for providing outputs that are used as inputs for other tasks. The implementation process uses up most of the resources and costs are highest as a result. In addition, changes are most requested in this phase. A skilled project manager employs change and progress controls and ensures that every change is documented, reviewed, analyzed, and executed as requested. Implementation of tasks is a critical process and a project manager should take precautions to ensure that each task is executed as required.

Impact of Information Technology Life Cycle

Businesses can generate new opportunities when an information technology (IT) lifecycle is implemented successfully. During the life cycle, a business replaces old and antiqued IT assets with new and trendy ones. The new technology, which can include software and hardware, provides the business with immense growth opportunities as a result of the new computing power gained.

One of the main features of the IT lifecycle is the adoption and integration of new features into the current operations of the business. When the business adapts to the new IT assets and makes use of the new features, an increase in revenue and customer base is assured. For instance, a business can adopt new IT assets that will help it break geographical barriers and expand its access to the global market. E-commerce is a rising model in the wholesale and retail industries that helps businesses access markets despite geographical limitations. Further, businesses within the US are outsourcing critical operational components such as customer service to call centers on the other side of the world, thanks to the growing technology around the audio-visual setting. Such capabilities are enabled by integrating superior IT assets to handle and process customer requests. There is a need, however, to implement proper project management skills to ensure that the technological upgrade and deployments are made as required and are aligned with the business's goals and objectives.

Reduced Operational Costs

Reduction of operational costs is an impact of the implementation of the information technology lifecycle. The current and emerging technology is built on the idea of automating operations in a business environment. Through the acquisition of IT assets, most operations can be automated through the employment of technology, consequently dismissing the labor cost previously incurred. Amazon, a retail and technological company, announced a project which involved integrating IT assets to remove checkout cashiers in their stores. Such a project aims at reducing labor costs and channeling resources to the maintenance of the IT assets employed in the stores. When the program and project management processes are implemented successfully, the new technology will ease business operations, and reduce operational costs thereby increasing revenue.

Increased Business Performance

An increase in a business's performance and enhanced efficiency is an impact of the information technology lifecycle. The IT lifecycle introduces new features with every cycle. Each of these features is aimed at increasing the business's performance and ensuring that its services are delivered efficiently. With the technological advancement witnessed currently, a business can exploit new production, marketing, and service delivery channels to increase its customer base and its revenue as a result. Technological advancements such as cloud computing and mobile technologies provide suitable opportunities that help a business perform its operations efficiently while reducing the cost of both production and labor.

Service Value Addition

Value addition is a result of the information technology (IT) lifecycle. As a process of the IT lifecycle, planning helps a business analyze its current operations in terms of goods and service delivery. Thereafter, analysis and recommendations on ways in which the goods and services provided can be added in terms of value hence increasing revenue. A program and project management team will research the relevant and most suitable technology to acquire that can implement the value-addition as required. With the advancement of technology, such as {link to quantum computing} quantum computing, service providers, including bankers, surveyors, and freight companies can carry out value-addition strategies to enhance their service provisions. The banking industry can replace current computing assets with faster and superior assets that can handle real-time online trading for its customers. Freight companies can create an online platform that enables real-time tracking of parcels and cargo from pickup to destination. Such services promote business growth in the retail industry.

Increased Electronic Waste (E-Waste)

One of the greatest environmental concerns of the information technology (IT) life cycle is electronic waste (e-waste). A business organization advocates for the replacement of IT assets deemed to be of little or no value to the organization. As a result, the IT lifecycle takes the business through steps to acquire new assets. Consequently, the pre-existing IT assets cease to be part of the organization's operations. The resulting e-waste has to be analyzed and proper disposal strategies implemented as recommended in the disposition and salvage processes of the IT lifecycle. This insists on the need to have a proper program and project management process that will emphasize the need for proper research and implementation of the IT lifecycle processes. Failure to implement proper disposal strategies is problematic to the environment and can cause strains between the business, agencies charged with environmental protection responsibilities, and society. Wrongful disposal of e-waste can lead to the business losing money through fines and penalties from regulatory agencies and groups. Approximately 57.4 million tons of e-waste were generated worldwide in 2021. It is estimated that in the year 2030, over 74 million tonnes of e-waste will be generated. For a successful and healthy IT lifecycle, proper measures on how to dispose of and salvage the decommissioned IT assets should be put in place.

Implementing IT Life-Cycle

Organizations experience unplanned costs as they pursue better information technology (IT) infrastructure. The need for an IT lifecycle can arise from either the need for new and superior IT assets or when an asset breaks down and ceases operations. The latter is critical as it creates temporary paralysis of business operations and can be lethal to the business in terms of revenue. A business has to hastily kick start the IT lifecycle process to acquire new IT assets to resume operations and even improve them. Every lifecycle translates to the business spending money and other resources to complete it whether the cycle is planned or unplanned. When replacing a broken-down asset, the business will incur an extra cost but its operations, performance, and efficiency will remain the same despite implementing the processes of an IT lifecycle.

When an IT lifecycle is started without engaging the proper program and project management processes, there exists a high probability of project failure. A business should understand the relevance of IT in its operations and avail resources to undertake a proper IT lifecycle by employing proper project management techniques, as discussed above.

Businesses are exposed to paralyzed operations if the project management processes are executed in an incautious manner and tasks are implemented without due diligence. During program and project management, an information technology lifecycle can be a failure if one of the processes of the cycle is overlooked or poorly executed. A business's operations will be inconveniently paralyzed as a result of poor project management skills from stakeholders. Consequently, the revenue will be negatively impacted while the business brand will be tarnished. Further, the business will lose money and resources already used in the implementation of the IT lifecycle

Each process in project management is crucial and should be executed in its entirety. A business sets aside resources for each IT lifecycle to help in the implementation and execution of tasks identified in the project management processes. A delay in execution results in extended project schedules which in turn demands more resources. In addition, unforeseen risks are components that can easily fail the IT lifecycle. These risks include acquiring IT assets of poor quality, incompatibility between the new and old IT infrastructures, and more. Comprehensive research and audit of the risks and proper risk management strategies should be undertaken to ensure smooth project management processes.

... In conclusion
Program and project management processes are crucial to the implementation of the information technology (IT) lifecycle. The IT lifecycle contains processes that ensure the businesses invest in IT assets that will aid in growth and give them a competitive edge in the market. Technology is fast evolving. Every business should strive to ensure its technological infrastructure is current and operational.
The technology lifecycle is not a question of if but when it will be implemented. With every cycle, proper project and program management skills should be employed to complete it. The experience gained as a business implements several cycles is useful as it eases the future project management processes, through a concept identified as the learning curve. The IT lifecycle brings both positive and negative impacts to the business. However, for any business to stay competitively relevant, the IT lifecycle is compulsory.