Project Lifecycle is the series of steps that it goes through from the beginning to the end. Depending on the method used, the project lifecycle may have different steps, but in general, it includes the following:
Initiation: In this phase, the project idea is defined, and the goals, scope, and requirements are set. The project’s viability is looked at, and the people who have a stake in it are found.
Planning: During this phase, a detailed project plan is made that lists the tasks, resources, timelines, and budget needed to reach the project goals. The project team is put together, and the tools and methods for managing the project are chosen.
In this phase, the plan for the project is put into action. Team members are given tasks to do, and the project is watched and managed to make sure it stays on track. Change control processes are used to keep track of any changes to the project plan.
Monitoring and Control: During this phase, the project’s progress is compared to the plan. Any changes from the plan are found and steps are taken to put the project back on track. Risks are found and managed, and problems are dealt with as they come up.
Closure: The project is officially done at this point. The stakeholders review and accept the deliverables, and the project team breaks up. A review is done after a project to find out what was learned and what could be done better.
Overall, the project lifecycle provides a framework for managing projects from start to finish, making sure that the project is completed successfully and meets the expectations of the stakeholders.
Usage
It is used in project planning and deciding SDLC
