For project managers seeking to understand their process and work according to best practices, they are often guided by the Project Management Institute PMI standards of practice, which outlines the project management life cycle. The life cycle of any project can get confusing. There are a lot of activities going on at different phases of a project.
The project phases make up a project life cycle, and as such, the phases are tailored to fit the project’s needs. According to the PMBOK® Guide, the elements of a project life cycle should define:
According to PMI, “project management is the application of knowledge, skills, tools, and techniques to a broad range of activities in order to meet the requirements of a particular project.” There are five phases of project management and if the lifecycle provides a high-level view of the project, the phases are the roadmap to accomplishing it.