A project life cycle is the series of phases a project passes through from start to finish.
Why we use phases:
Different industries may name phases differently, but the idea is the same.
A common life cycle has four broad phases:
Note: Monitoring & Control is often shown as a parallel set of activities across the project.
A deliverable is a tangible output produced by the project. Examples: design document, working software module, completed building floor.
A milestone is a significant point in time that marks progress. Examples: “requirements approved”, “phase 1 complete”.
In exams, write: “Deliverable = output; milestone = checkpoint.”
At the end of each phase, organizations often conduct a phase review (stage-gate) to decide:
This improves control and prevents wasting resources on failing projects.
Stakeholders include sponsor, customer, users, team, suppliers, regulators, etc.
Stakeholder engagement basics:
Unmanaged stakeholders often create delays and conflicts.
Access the complete note and unlock all topic-wise content
It's free and takes just 5 seconds
From this topic
Typical phases: Initiation (objectives/charter), Planning (scope/schedule/budget plans), Execution (perform work), Monitoring & Control (track and correct throughout), and Closure (handover, lessons learned).
Deliverable is an output/result (e.g., design document). Milestone is a checkpoint (e.g., requirements approved). Deliverable = what is produced; milestone = when a key point is reached.
Download this note as PDF at no cost
If any AD appears on download click please wait for 30sec till it gets completed and then close it, you will be redirected to pdf/ppt notes page.
A project life cycle is the series of phases a project passes through from start to finish.
Why we use phases:
Different industries may name phases differently, but the idea is the same.
A common life cycle has four broad phases:
Note: Monitoring & Control is often shown as a parallel set of activities across the project.
A deliverable is a tangible output produced by the project. Examples: design document, working software module, completed building floor.
A milestone is a significant point in time that marks progress. Examples: “requirements approved”, “phase 1 complete”.
In exams, write: “Deliverable = output; milestone = checkpoint.”
At the end of each phase, organizations often conduct a phase review (stage-gate) to decide:
This improves control and prevents wasting resources on failing projects.
Stakeholders include sponsor, customer, users, team, suppliers, regulators, etc.
Stakeholder engagement basics:
Unmanaged stakeholders often create delays and conflicts.
Project governance is the framework of rules, decision rights, and reporting that ensures the project aligns with organizational goals.
Key elements:
Governance ensures accountability and transparency.
A simple exam line: “Sponsor owns the business case; PM owns delivery.”
Matrix can be weak/balanced/strong depending on PM authority.
A PMO is a group/unit that standardizes project management practices and provides support.
Types (basic):
Benefits:
Limitations:
Managing life cycle properly reduces these issues.
Initiation → Planning → Execution → Closure
↘ Monitoring & Control ↙ (throughout)
Get instant access to notes, practice questions, and more benefits with our mobile app.
A project life cycle is the sequence of phases from start to finish.
Typical phases:
Initiation → Planning → Execution → Closure
↘ Monitoring & Control ↙ (throughout)
Thus phases help manage the project in a controlled and measurable way.