What are the different phases in project life cycle with suitable examples?

The project life cycle refers to the series of phases that a project goes through from initiation to completion. Each phase represents a distinct stage in the project where specific tasks, deliverables, and objectives are accomplished. the phases in a project life cycle along with suitable examples:

1. Initiation Phase:
   • This is the first phase of the project life cycle where the project is conceived, authorized, and defined.
   • Example: Imagine a company wants to develop a new mobile application. In the initiation phase, the project stakeholders define the project’s purpose, scope, objectives, and initial budget.
2. Planning Phase:
   • In this phase, detailed planning is carried out to define project scope, objectives, deliverables, resources, schedule, and budget.
   • Example: Continuing with the mobile application project, in the planning phase, the project team creates a project plan outlining tasks, milestones, dependencies, and resource allocation. They also conduct risk analysis and develop a communication plan.
3. Execution Phase:
   • This phase involves executing the project plan, coordinating resources, and completing project deliverables as outlined in the plan.
   • Example: For the mobile application project, the execution phase involves actual development activities like coding, designing user interfaces, implementing features, and conducting testing.
4. Controlling Phase:
   • During this phase, project performance is monitored, and project activities are controlled to ensure that the project stays on track in terms of scope, schedule, budget, and quality.
   • Example: In the mobile application project, the project manager monitors progress against the project plan, tracks budget expenditure, manages risks, and resolves issues as they arise. They may also conduct regular meetings to review project status.
5. Closing Phase:
   • This is the final phase of the project life cycle where the project is formally completed, and project closure activities are conducted.
   • Example: After the mobile application is developed, tested, and deployed to users, the closing phase involves activities such as obtaining client acceptance, documenting lessons learned, releasing project resources, and handing over deliverables to the operations team.