Projects have a beginning, a middle, and an end. The project lifecycle is the sequence of phases a project passes through from initial concept to final closure.

Typical phases include initiation, planning, execution, monitoring and control, and closure. Each phase has characteristic activities, decision gates, and deliverables. Lifecycles may be predictive (waterfall) or adaptive (iterative and incremental), depending on how well requirements can be defined upfront.

Understanding the lifecycle helps organizations apply the right controls at the right time and avoid treating every project as a unique improvisation. Closure activities—lessons learned, administrative closeout, and transition to operations—are often neglected yet essential for lasting value.

• Sequence of phases from start to finish of a project
• Typically initiation through closure
• May be predictive or adaptive
• Guides controls, decisions, and handoffs