The Short Answer
Every project goes through five phases: Initiation (define the project and get approval), Planning (create the roadmap), Execution (do the work), Monitoring & Controlling (track progress and adjust), and Closing (finalize and hand over). These phases may overlap or iterate, but the sequence provides a universal framework for delivering any project.
The project life cycle is like a GPS for delivery. It tells you where you are, what to focus on now, and what comes next.
The Roadmap of Delivery
Every project follows a predictable lifecycle with five distinct phases. Understanding these phases helps teams know where they are, what to focus on, and what comes next. While the phases may overlap or iterate in Agile environments, the fundamental stages remain constant. In Waterfall, phases are sequential; in Agile, phases like Planning and Execution happen iteratively within each sprint.
Initiation
The Birth
The project does not exist until it is formally authorized. This phase defines the high-level purpose and feasibility of the undertaking.
Objective
Define the high-level purpose and feasibility.
Key Deliverable: Project Charter
This document empowers the Project Manager to apply organizational resources to project activities. It answers the "Why" and "What" at a macro level.
Key Activities
- Identify stakeholders
- Assess feasibility
- Define high-level scope
- Secure project sponsorship
Planning
The Blueprint
This is often the most critical phase in predictive projects. The plan tells the team where they are going and how to get there.
Objective
Define the total scope, refine objectives, and develop the course of action.
Key Deliverable: Project Management Plan
Includes WBS, Schedule (Gantt), Budget, Risk Management Plan, and Communications Plan.
Key Activities
- Create Work Breakdown Structure
- Develop schedule and budget
- Identify and analyze risks
- Define quality standards
Execution
The Work
The "doing" phase where the plan is put into motion. This is where the majority of the budget is spent and the team is most active.
Objective
Complete the work defined in the project management plan to satisfy specifications.
Key Deliverable: Project Deliverables
The actual products, services, or results that the project was designed to create.
Key Activities
- Coordinate people and resources
- Manage stakeholder engagement
- Implement quality processes
- Conduct procurements
Monitoring & Controlling
The Check
This phase runs concurrently with execution. It is the "dashboard" of the project, ensuring everything stays on track.
Objective
Track, review, and regulate progress and performance; identify areas requiring changes.
Key Deliverable: Performance Reports & Change Requests
Status reports (RAG: Red, Amber, Green), variance analyses, and formal change control documentation.
Key Activities
- Track KPIs
- Manage scope changes
- Control quality
- Monitor risks
Closing
The Handover
The project is not done until it is properly closed. This phase ensures formal completion and captures lessons for future projects.
Objective
Finalize all activities to formally close the project or phase.
Key Deliverable: Lessons Learned & Project Closure Report
Documentation of what worked, what didn't, and recommendations for future projects.
Key Activities
- Obtain formal acceptance
- Release team and resources
- Archive records
- Conduct retrospective
Key Takeaways
- All projects pass through five phases: Initiation, Planning, Execution, Monitoring & Controlling, and Closing.
- Initiation defines 'why' and 'what' at a high level; Planning defines 'how' in detail.
- Monitoring & Controlling runs parallel to Execution—it's the project's 'dashboard.'
- The Closing phase is often rushed or skipped, but 'Lessons Learned' are invaluable for future projects.
- In Agile, these phases are compressed and repeated within each Sprint or iteration.
