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Ever wondered how everything fits together?  I know I have. I'm sure I'm not the only one.  The Victorian Department of Treasury & Finance has produced some excellent material that shows diagramatically how the different facets of an investment lifecycle fit together.  They contend that project management is about managing the implementation of an investment, something that makes intuitive sense.  The investment lifecycle itself goes beyond project management, in both directions.  It manages the feasibility of an investment and also gauges whether an investment returned benefits to its stakeholders.  Measuring benefits is something that is more integral to programme management, than project management.

 

I've posted two pictures.  The original picture, courtesy of the Victorian Department of Treasury & Finance shows the context of an investment lifecycle.  The second one shows project management and requirements analysis within this context.