What is Project Lifecycle?
The project life cycle is a structured, five-phase process that guides a project from its initial concept to final completion. The standard sequence includes project initiation, project planning, project execution, project monitoring and control, and project closure. While variations exist, most teams follow this framework to maintain order and clarity throughout the project’s duration.
Typically led by a project manager – or in larger organizations, the Project Management Office (PMO) – the project life cycle ensures a logical, repeatable approach to managing work. Its purpose is to align teams and stakeholders around common goals, keep the project within scope and budget, and identify risks early to prevent costly delays.
By breaking the work into clearly defined stages, the project life cycle helps maintain structure, improve communication, and increase the chances of delivering a successful project on time and on budget.
