According to the PMBOK Guide, a project is a temporary endeavor with a definite beginning and end. To provide better management control and appropriate links to the ongoing operations of the performing organization, projects are often divided into several project phases.
* Definition of Project Life Cycle: The project life cycle is the series of phases that a project passes through from its start to its completion. It provides the basic framework for managing the project, regardless of the specific work involved.
* Phase Characteristics: Each phase is a collection of logically related project activities that culminates in the completion of one or more deliverables. Breaking a project into phases allows the project manager and the organization to perform " phase gates " or " kill points, " where the project ' s performance is reviewed against the business case before moving to the next phase.
* Generic Structure: While specific life cycles vary by industry (e.g., software development vs.
construction), the PMBOK Guide identifies a generic life cycle structure:
* Starting the project (Initiating).
* Organizing and preparing (Planning).
* Carrying out the work (Executing).
* Ending the project (Closing).
* Adaptability: The project life cycle can be predictive (plan-driven), iterative, incremental, or adaptive (agile/change-driven), depending on the degree of certainty regarding the scope and the frequency of delivery.
Comparison with other options:
* A. Complete project phase: This is not a standard PMI term. While a project has phases, the collective group of phases is not called a " complete phase. "
* B. Project life: While colloquially used, " Project Life " is incomplete. The formal standard term for the management framework is the Project Life Cycle.
* D. Project cycle: This is a vague term. PMI specifically uses " Life Cycle " to denote the progression from initiation to closure.