What Are The 4 Phases of the Project Management Life Cycle?

Initiation: This phase entails defining the project at the highest level. Identifying the purpose, feasibility, stakeholders, and general goals of the project are all critical activities. A project charter is often used to formalize the objectives.

Planning: In this phase, comprehensive planning occurs. Project managers define the project’s scope, timing, money, resources, and risk-management measures. A complete project plan is created to steer the project from beginning to end.

Execution: This is where the actual work occurs. The project plan is implemented, and the project team completes the necessary tasks. Project managers ensure that resources are correctly allocated and track progress to keep the project on track.

Closure: Is the final phase of the project, which focuses on completion and delivery. It entails completing all activities, providing the project’s results to stakeholders, receiving permissions, and conducting a post-project evaluation to assess lessons learned and performance.