The Project Life Cycle (Phases) (LOs: 2a)

Introduction

Projects are organized into distinct phases to ensure a structured and systematic approach to their management. The PMI identifies five formal phases (initiation, planning, execution, monitoring and controlling, and closing) and each encompassing specific activities essential to successful project delivery.

The project manager and project team have one shared goal: to carry out the work of the project for the purpose of meeting the project's objectives. Every project has a beginning, a middle period during which activities move the project toward completion, and an ending (either successful or unsuccessful). A standard project typically has the following four major phases (each with its own agenda of tasks and issues): initiation, planning, implementation, and closure. Taken together, these phases represent the path a project takes from the beginning to its end and are generally referred to as the project "life cycle".

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