{"id":345750,"date":"2023-01-20T16:22:17","date_gmt":"2023-01-20T15:22:17","guid":{"rendered":"https:\/\/timeular.com\/?p=345750"},"modified":"2023-12-04T17:42:20","modified_gmt":"2023-12-04T16:42:20","slug":"project-life-cycle","status":"publish","type":"post","link":"https:\/\/timeular.com\/blog\/project-life-cycle\/","title":{"rendered":"Project Life Cycle: What is it and How it Works"},"content":{"rendered":"\n

Throughout the years, there have been many methods and techniques that are here to help project managers and their team carry out their projects. <\/p>\n\n\n\n

You can find complex and specific models, as well as simple yet effective ones. Today, you’ll get to see everything behind the Project life cycle<\/strong>, a traditional tool that helps your project get to the finish line.<\/p>\n\n\n\n

Besides the concept of the Project life cycle concept, you’ll discover who’s behind its creation, the five main stages that define this model, and why it is important. <\/p>\n\n\n\n

Stay tuned to learn an efficient mechanism for the development of your project.<\/p>\n\n\n\n

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Free eBook: The Project Manager\u2019s Handbook on Time Tracking<\/h2>

Get your step-by-step guide to master time tracking as a Project Manager<\/p><\/div>

Download now<\/a><\/div><\/div><\/div><\/div>\n\n\n\n

What is the Project life cycle?<\/h2>\n\n\n\n

The project life cycle is the sequence of five stages a project goes through. It includes initiation, planning, execution, monitoring and controlling, and closure.<\/p>\n\n\n\n

Upon respecting these stages while working on your project, you’ll be able to complete your project successfully.<\/p>\n\n\n

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\"project<\/a><\/figure><\/div>\n\n\n

TIP: Read our guide if you want to learn everything about project tracking: what is, how to do it, and its importance<\/a>.<\/p>\n\n\n\n

Who invented the Project life cycle?<\/h2>\n\n\n\n

The Project life cycle was created by the Project Management Institute<\/a> (PMI). This methodology was demonstrated in one of the best project management books<\/a>, Project Management Book of knowledge (PMBOK).\u00a0<\/p>\n\n\n\n

The goal was to display a course of five stages, as you’ve seen above, that would lead the project manager and team into the project’s delivery. Below you’ll find the specifics behind every single stage of the Project life cycle.<\/p>\n\n\n\n

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Keep your projects’ time and budgets safe with the most accurate time tracking solution<\/h2><\/div>
Learn how<\/a><\/div><\/div><\/div><\/div>\n\n\n\n

What are the 5 stages of a project life cycle?<\/h2>\n\n\n\n

The five stages of a project life cycle are initiation, planning, execution, monitoring and controlling, and closure. Let’s explore them.<\/p>\n\n\n\n

1. Project Initiation<\/h3>\n\n\n\n

This first step is where you decide if the project you’re getting involved in is worth all the next steps you’ll do next and if there’s a possibility for this to happen. <\/p>\n\n\n\n

It makes sense to start with these decisions because you would only waste your time if you proceed with the project without wondering about its future. Once there’s positive feedback, you’re okay to move forward.<\/p>\n\n\n\n

\"a<\/a><\/figure>\n\n\n\n

2. Project Planning<\/h3>\n\n\n\n

The project life cycle is all about planning, so you’re prepared for any setting, even if that means unforeseen events. To protect your project, there are certain plans you need to look out for:<\/p>\n\n\n\n