The official business definition of Project Life Cycle Stages is a framework used to plan, organize, and manage the various aspects of a project from start to finish. It is a collection of tasks and activities that take place from the moment a project is initiated, to its completion. The stages of a project life cycle are typically divided into five distinct phases: initiation, planning, execution, monitoring and closure.
During the initiation phase, the scope and objectives of the project are identified and the requirements for a successful project outcome are determined. During the planning phase, the tasks required to achieve the project objectives are identified, resources are acquired and assigned, and a timeline is created. During the execution phase, project activities are carried out and the project team works to produce deliverables according to the timeline. During the monitoring phase, the progress and performance of the project is tracked and reported, and