Project Life Cycle

Guide: Understanding the Project Life Cycle

The Project Life Cycle refers to the sequential stages a project undergoes from inception to completion. These stages typically include initiation, planning, execution, and closure. It is a vital concept in Project Scope Management and CAPM.
Importance: The project life cycle is important because it provides a framework that helps teams organise their work and manage projects effectively. Understanding this life cycle can also predict potential challenges and devise ways to overcome them.
Working: The project life cycle works as a cycle where every phase has specific deliverables and a review process. For instance, in the ‘Initiation’ stage, the project need is identified. In the ‘Planning’ stage, extensive strategies are formulated. During the ‘Execution’ stage, the formulated strategies come into action. Finally, in the ‘Closure’ stage, the project is reviewed and closed.
Exam Tips: When answering questions about the project life cycle in an exam, it's essential to include each phase's purpose. Use concrete examples to illustrate each stage. Also, remember that each project's life cycle may vary based on the project details and that flexibility is key. Make sure to showcase your understanding of how these variations work.
To answer exam questions effectively, first read the question carefully and identify what is being asked. Then, structure your answer in a logical manner, beginning your explanation with the concept of a project life cycle and then delving into details of each phase. Try to include examples where possible, as this can demonstrate your practical understanding of the concept.
Always remember that a good practice is to revise the project life cycle's concepts before the exam since it forms a fundamental part of project management.