Project Management Lifecycle
Explore the five phases of the project management lifecycle including initiation, planning, execution, monitoring, and closure. Understand key project management terms and learn how these apply to managing projects efficiently. This lesson helps you grasp crucial concepts that prepare you for program manager roles and interviews.
Project management is a set of principles and cultures which get adopted in different ways at different places.
Everything has a lifecycle from software to project. Let us start by understanding what Project Life Cycle is.
Few terminologies get used very often in the project management area. It is good to learn about them and how you can leverage them in your work.
Project Life Cycle
There are five phases of the lifecycle of any project.
Initiation phase
It is the beginning of any project when the requirements come from the client. After that, business documents get created after brainstorming the idea with the team. Once the project document gets written, it goes for signoff from the leadership on the plan. Once the project plan is signed off, the budget gets ...