What is a project lifecycle
The Project Lifecycle is the different processes taken by a team to deliver a project from initiation to completion. The project is usually constrained by date, budget and specific deliverables and is undertaken to meet unique goals and objectives, that should add value or is a beneficial change to the business.
A traditional project lifecycle has the following key stages normally completed in sequence:
- Project initiation phase should determine the nature and scope of the project (the why of any project).
- Project planning and design is the act of defining the blueprint of the why, when and who of a project
- Project implementation consists of the processes used to complete the work defined in the project plan to accomplish the project’s requirements
- Project monitoring and controlling consists of those processes performed to observe project execution
- Project completion is the formal acceptance of the end of project or version
In an Agile/SRUM methodology the planning, execution and monitor phase will be done in an incremental fashion every week/sprint.