Project Lifecycle

The project lifecycle can be segmented into four distinct and sequential phases. This four-phase methodology serves as a framework for successful project delivery. For more details about each of the four phases, the table below is provided for reference.

The 4 Phases of the Project Lifecycle

PhasesOverviewKey ActivitiesKey Deliverables
InitiationDuring the project initiation phase, you need to develop a business case and define the project, which involves defining the project’s requirements and creating a project charter.1. Approve Project
2. Create Project Charter
3. Develop High-Level Plan
4. Plan for Project Kick Off
5. Develop Project Plan		Project Charter
PlanningThe project planning phase consists of an in-depth overview of the project’s goals and requirements. Typically, it accounts for almost half of the entire project time span. During the planning phase, the project deliverables and requirements are defined and the project schedule is created.6. Meet with Key Stakeholders
7. Create WBS and Build Schedule
8. Develop Communication Plan		RACI Chart
Project Schedule and WBS
Communication Plan
Execution and ControlThe project execution phase is where the project team does the actual work to turn the project goals into deliverables. The monitoring and controlling of a project run simultaneously with project execution to ensure the objectives and deliverables are met.9. Manage Project Plan
10. Manage Risks
11. Create and Maintain Status Reports
12. Validate Deliverables
13. Create Test Plans		Risk Register
Executive Status Report
Test Plan
ClosingAs the final phase of the project management process, the Project Closing refers to the activities to perform after the final delivery of the project, which typically includes a discussion of lessons learned throughout the project, the termination of contracts, etc.14. Obtain Deliverable Signoff
15. Handover Operational Activities
16. Lessons Learned
17. Formal Closeout Session		Project Closeout Document