Project Life Cycle Phases In Depth

The five unique phases of the project management life cycle—initiation, planning, execution, monitoring, and closure—work together to transform an initial project concept into a finished product.
A successful project is delivered through high-level processes that are described in the project management life cycle. As more than half of unsuccessful projects fail due to a breakdown in communication, wasteful spending of money and resources can be avoided with competent project management. You develop an idea for a project, specify its objectives, make plans for carrying it out, and direct it through its various stages in the project management life cycle.

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