The IT Project Life Cycle is a well-defined set of processes that a project must go through from its inception to its completion. It is a systematic approach to managing the various stages of a project from the initial planning phase to the implementation and delivery of the project. The IT Project Life Cycle typically includes the following stages: initiation, planning, execution, monitoring and control, and closure. During the initiation stage, the project scope and objectives are identified and the project team is assembled. During the planning stage, the project plan is developed, the project budget is established, and the project timeline is established. During the execution stage, the project is implemented according to the project plan. During the monitoring and control stage, the project is monitored and any changes to the project plan are documented. Finally, during the closure stage, the project is completed and the project deliverables are handed over to the customer. The IT Project Life Cycle is an essential tool for successful project management and is used to ensure that the project is completed on time and within budget.