Components of Project Cycle

Problem Scoping- Under standing the problem

 Data Acquisition- Collecting accurate and reliable data

Data Exploration- Arranging the data uniformly

Modelling- Creating Models from the data

Evaluation- Evaluating the project

Problem Scoping

Problem Scoping refers to understanding a problem, finding out various factors which affect the problem, define the goal or aim of the project. During this stage following things are decided

. Strategic business objectives

. Expected outcomes of the project

. Stakeholders’ expectations

4WS-   WHO, WHAT, WHERE, WHY

Who - “Who” part helps us in comprehending and categorizing who all are affected directly and indirectly with the problem and who are called the Stake Holders

What - “What” part helps us in under standing and identifying the nature of the problem and under this block, you also gather evidence to prove that the problem you have selected exists.

Where- "Where” does the problem arise, situation, context, and location. 

Why - “Why” is the given problem worth solving.

Data Acquisition: Data Acquisition consists of two words:

·         Data: Data refers to the raw facts, figures, information, or statistics.

·         Acquisition: Acquisition refers to acquiring data for the project.

Data Exploration-   Data Exploration is the process of arranging the gathered data uniformly for a better understanding. Data can be arranged in the form of a table, plotting a chart, or making a database.

Modeling- Modelling is the process in which different models based on the visualized data can be created and even checked for the advantages and disadvantages of the model.

Evaluation-  Evaluation is the method of understanding the reliability and is based on the outputs which are received by feeding the data into the model and comparing the output with the actual answers.