Project stages are the different phases that a project goes through from its conception to its completion. According to the official business definition, project stages are defined as the distinct steps that a project team follows to complete a project. Each stage of the project requires different tasks and activities to be completed, and each stage has its own set of deliverables. The project stages are typically divided into initiation, planning, execution, monitoring and control, and closure. The initiation stage is the first step in the project and involves the definition of the project objectives, the selection of the project team, and the identification of stakeholders. The planning stage is the second step and involves the development of a project plan, the identification of resources, and the development of a budget. The execution stage is the third step and involves the implementation of the project plan and the monitoring of progress. The monitoring and control stage is the fourth step and involves the review of project progress and the identification of any issues or risks. The closure stage is the fifth step and involves the completion of the project and the evaluation of the project results.