Question

What is the project life cycle?

1) It is a series of phases that represent the evolution of a product, from concept through delivery, growth, maturity, and to retirement.
2) It is the alignment of project objectives with the strategy of the larger organization by the project sponsor and project team.
3) It is the expected duration of a project.
4) It is a series of phases that a project passes through from its initiation to its closure.

Answer 1

The project life cycle is a sequence of phases including the Preparatory, Implementation and Learning, Program Evaluation, and Lessons Learned stages, through which a project evolves from initiation to completion.

Step-by-step explanation:

The project life cycle refers to the series of phases that a project goes through from its initiation to its closure. It is a framework that helps project managers and teams guide their work and manage changes to reach a project’s objectives. Typically, these phases include the Preparatory Phase where the project is conceptualized, the Implementation and Learning Phase where the actual work is carried out and project performance is monitored, followed by the Program Evaluation Phase where the results and outcomes are analyzed, and finally, the Development of Lessons Learned which helps in understanding what was successful and what could be improved for future projects.

This concept is not merely an expected duration, nor just an alignment of project objectives with organizational strategy. Instead, it encompasses the repetitive or cyclical process of progression through these stages. Just as individuals experience different life stages with distinct responsibilities and expectations, projects evolve through the project life cycle stages, each with its own set of tasks, challenges, and goals.