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Chapter 1. Project Management Framework > Understanding the Project Lifecycle
Understanding the Project Lifecycle
As you already know, each project has a beginning and an end. The time span from the project beginning to the project end is called the project lifecycle. If a project has multiple phases, all the phases are completed during its lifecycle in order to complete the project. Regardless of whether the project has multiple phases or just one phase, during this lifecycle, the project is started, organized and prepared for, carried out (project work is performed), and closed. In the standard terminology, a project is initiated, planned, executed, monitored and controlled, and closed.
Caution
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| Do not confuse project lifecycle with product lifecycle. A project is executed to create a product, which lasts after the project is finished. In general, the project lifecycle is contained within the lifecycle of each product it creates. For example, a project creates a product that lasts for a certain time after the project ends, and then it retires. As another example, a project is run to add features to a product that existed before the project was initiated and lasts after the project is completed. |
