Project life cycle breaks the project management into distinctive stages. These stages are very important for planning as they define and guide the steps it takes to complete the project. These stages help to provide high level pulse to ensure a project is progressing as planned.
There are five phases of project life cycle:
1.Project Initiation: It is a document to initiate the project. We can also call it is project charter document. Here project manager will do all the feasibility study after finding a high-level requirement that talks about project goal and stakeholder’s information.
2. Project Planning: Here BA will give return requirements that could be procuring finance, procuring resources and what are the software and hardware we need for the project plan. Rest of the work that product quality and its outcome managed by the project manager.
3.Project execution: In this phase project management team they will start their deliverables and that documentation work could be documentation work with test cases what we agreed upon.
4.Project monitoring and control: This phase more of maintenance after the deployment. The project management team has to monitor the cost and if there is any change in the requirement that also needs to monitor. It is basically giving contract to monitor the project.
5.Project closure: Project closure is the last phase of project management. During project closure the team review deliverables then compare and tests its quality to the intended project outcome. Then they share the deliverable with the project’s client.