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| <additionalInfo><h3> Additional resources </h3>
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| <p>
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| For more information on the risk-value lifecycle approach, see the following:
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| </p>
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| <ul>
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| <li> Kruchten, P. &quot;<a href="http://www.ibm.com/developerworks/rational/library/4626.html">Going 
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| Over the Waterfall with the RUP</a>&quot; (IBM developerWorks article, 2004)</li>
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| </ul>
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| 
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| <ul>
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| <li> Kroll, P. and&nbsp;Kruchten, P. <em>The Rational Unified Process Made Easy</em>, 
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| Addison Wesley, 2003. Chapters 5 through 9. </li>
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| </ul>
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| <br /></additionalInfo> |
| <problem><h3> Why adopt this practice? </h3>
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| <p> Project stakeholders look for&nbsp;ways to understand and control project 
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| funding, scope, risk exposure, value provided, and other aspects of the project. 
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| While&nbsp;project iterations deliver&nbsp;product increments that show value 
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| delivered and show progress at a fine-grained level (meaning that work items 
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| are being addressed), they do not provide the necessary project oversight, transparency, 
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| and steering mechanisms at a coarse-grained level that allow stakeholders to 
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| make informed business decisions about the project. </p>
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| <p> The organization of iterations into a set of&nbsp;phases -- with a well-defined 
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| milestone at the end of each phase -- provides the&nbsp;structure that stakeholders 
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| and managers need to assess whether the objectives of the phase have been met 
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| and&nbsp;whether the project should move on to the next phase or not. See <a class="elementLink" href="./../../../practice.mgmt.risk_value_lifecycle.base/guidances/concepts/phase_milestones_5678231E.html" guid="_HNxbwMBJEdqSgKaj2SZBmg">Phase Milestones</a>&nbsp;for more&nbsp;details.&nbsp; </p>
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| <p> By addressing the goals and risks of each phase, the team has the opportunity 
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| to find the right balance between risk reduction and immediate value creation, 
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| which are two major drivers for stakeholders. See <a class="elementLink" href="./../../../practice.mgmt.risk_value_lifecycle.base/guidances/concepts/project_lifecycle_203F87.html" guid="_nSfVwCNYEdyCq8v2ZO4QcA">Project Lifecycle</a> for more information. </p></problem> |
| <application><p>
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| The best way to read this practice is to first familiarize yourself with its overall structure: what it is in it and
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| how it is organized.&nbsp;
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| </p>
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| <p>
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| Start with understanding what phases are and how they relate to iterations.&nbsp;Understand what phase milestones mean
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| and the questions that they help answer. See <a class="elementLink"
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| href="./../../../practice.mgmt.risk_value_lifecycle.base/guidances/concepts/phase_milestones_5678231E.html"
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| guid="_HNxbwMBJEdqSgKaj2SZBmg">Phase Milestones</a> for more information. You can also&nbsp;read the definition for
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| each phase for more detailed information:&nbsp;<a class="elementLink"
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| href="./../../../practice.mgmt.risk_value_lifecycle.base/guidances/concepts/inception_phase_C4456871.html"
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| guid="_0hmKgBOMEduCNqgZdt_OaA">Inception Phase</a>, <a class="elementLink"
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| href="./../../../practice.mgmt.risk_value_lifecycle.base/guidances/concepts/elaboration_phase_BE880435.html"
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| guid="_2plxwBOMEduCNqgZdt_OaA">Elaboration Phase</a>, <a class="elementLink"
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| href="./../../../practice.mgmt.risk_value_lifecycle.base/guidances/concepts/construction_phase_873B6559.html"
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| guid="_48EKsBOMEduCNqgZdt_OaA">Construction Phase</a>, and <a class="elementLink"
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| href="./../../../practice.mgmt.risk_value_lifecycle.base/guidances/concepts/transition_phase_DD5986E5.html"
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| guid="__ca5UBOMEduCNqgZdt_OaA">Transition Phase</a>.
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| </p>
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| <p>
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| Then, understand the importance&nbsp;of a structured lifecycle&nbsp;in driving two
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| main&nbsp;stakeholders'&nbsp;concerns: risk reduction and value creation. See&nbsp;<a class="elementLink"
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| href="./../../../practice.mgmt.risk_value_lifecycle.base/guidances/concepts/project_lifecycle_203F87.html"
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| guid="_nSfVwCNYEdyCq8v2ZO4QcA">Project Lifecycle</a>&nbsp;for more information.
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| </p>
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| <p>
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| For&nbsp;instructions on how to adopt this practice, see <a class="elementLink"
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| href="./../../../practice.mgmt.risk_value_lifecycle.base/guidances/roadmaps/how_to_adopt_C61F3A1F.html"
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| guid="_ERIDQOMPEdyM47cGD2jiaQ">How to Adopt the Risk-Value Lifecycle Practice</a>.
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| </p></application> |
| </org.eclipse.epf.uma:PracticeDescription> |
