The Project Life Cycle refers to a logical sequence of activities to accomplish the project’s goals or objectives.

Regardless of scope or complexity, any project goes through a series of stages. Project activities must be grouped into phases so that the team can efficiently plan and organize resources for each activity, and also measure achievement of goals.

Here's a description of each stage:

• Initiation - In this stage, the scope of the project is defined along with the approach to be taken to deliver it. The plannerwould comminly involved in creating the most comming tools used in the initiation. Thee are generally - Project Charter, Business Plan, Project Overview, Business Case Justification, and Milestones Reviews.
• Planning - The phase should include a detailed identification of each task. It should include a risk analysis and a definition of a criteria for the successful completion. The reporting frequency and communication channels agreed.
• Execution and Controlling - The most important issue in this phase is to ensure project activities are properly executed and controlled. The planned solution is implemented. Often a design of the requirements is created. As the execution phase progresses, groups across the organization become more deeply involved in planning.
• Closure - In this last stage, the project team must ensure that the project is brought to its proper completion. The closure phase is often characterized by a written report.