Project Lifecycle
Project Lifecycle refers to the series of phases that a project goes through from its initiation to its closure. It is a framework that defines the processes, activities, and tasks required to complete a project successfully. The project lifecycle typically includes five phases: initiation, planning, execution, monitoring and control, and closure. During the initiation phase, the project's objectives, scope, and stakeholders are identified. In the planning phase, the project plan is developed, including the project schedule, budget, and resource allocation. The execution phase involves the actual implementation of the project plan. The monitoring and control phase involves tracking the project's progress and making adjustments as necessary. Finally, the closure phase involves the formal acceptance of the project deliverables and the handover of the project to the stakeholders.
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