Project Life Cycle

The project life cycle describes the entire history of the project. In other words, it is the set of phases that the project goes through from its beginning to its completion. Different projects use different combinations of phases depending on the industry, nature of the product, risk, or size. During the project life cycle, the project manager must manage the project’s scope, schedule, budget, quality, resources, risks, and procurement’s. Moreover, project managers should also engage stakeholders through effective communication.

On the other hand, all phases represent a logical aggregation of related work. Consequently, projects become easier to manage. Adopting a project life cycle also promotes transparency. Basically, stakeholders know what to expect. Additionally, it promotes consistency. All phases are necessary to make the “right” decisions. In this way, the cycle increases the likelihood of project success, and no workaround will be necessary. Projects, large or small, should therefore adopt a project cycle.

A standardized project lifecycle can help you understand all the work needed to achieve project objectives. Consequently, it is easier to determine a feasible timeline and budget. Moreover, it is easier to define responsibilities. Consequently, the project life cycle helps to define more credible objectives.