The example of an investment project in the life sciences sector illustrates this: The start phase (P0) includes the basic planning of the project, while the design phase (P1) includes the actual project design. These phases include at least:Įach phase can be of different length and can be designed individually. However, it can be roughly said that a project can be divided into four to six phases, depending on the type of project. It makes sense to use as many phases as necessary, as the model needs to be planned as accurately as possible.
Depending on the type of project, there may be a different number of phases. It is not only the result that is planned, but also the way to get there. However, it has advantages and disadvantages, which are discussed below. For this reason, it makes sense to use this method if few changes are expected. As the model is sequential, there is usually no feedback between the individual phases, i.e., the planned phases are carried out until the end of the project without any return. This increases efficiency, but also makes the process very inflexible and rigid. With this information, the content of each phase can be precisely planned and successfully delivered. In order to define these clear points, at the beginning of the project the exact requirements of the companies, customers or stakeholders are identified. The model works with sequential phases that are planned down to the smallest detail, with a clear start and end point that flow into each other. However, this view is inaccurate, as it does have its advantages, as will be shown below. The Waterfall model is one of the classic project management methods that assumes a defined end state is known at the start of the project and is often referred to as an "outdated method".
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