The Project Management LIFE Cycle is a set of activities/tasks that must be COMPLETED in order for project objectives or targets to be met. This assists in organizing and streamlining the efforts required to complete the project into a sequence of logical and doable actions. The Project Management Life Cycle is divided into four SIMPLE phases, as follows:

• Initiation: It's the first and most important step in the project's life cycle, where the project's initial scope is determined and resources are allocated.
• Planning: This step requires you to jot down a sufficient amount of detail for the project in order to PLAN time, cost, and resources. It calculates the amount of work required and effectively manages risk.
• Executing: This step contains the processes that are utilized to complete the project management plan's work. It's all about meeting the project's goals. It also ENTAILS monitoring, assessing, and regulating the project's progress. You must also promptly recognize possible problems and take necessary action.
• Closure: This step is a crucial aspect of project management, and it is responsible for completing all project activities. This entails completing all activities across all the steps, disbanding the project team, and using the project closure report to sign off on the project with the customer.