Project Life Cycle Management (PLCM) is an important concept in the business world. It is the process of managing a project through its entire life cycle, from its initiation to its completion. It involves planning, scheduling, monitoring, and controlling the project. In essence, it is the process of managing the different stages of a project, from the beginning to the end. PLCM is used to ensure that a project is completed on time, within budget, and meets the desired goals and objectives. It is also used to ensure that the project is delivered within the agreed upon parameters. PLCM involves the development of a project plan, setting of objectives, and the identification of the tasks, resources, and timeline required to complete the project. It also involves the monitoring of progress and the identification of any potential issues that may arise during the project lifecycle.