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According to PMI standards, the choice of life cycle determines how the project scope is managed and when the " What " of the project is finalized.
Predictive (Waterfall): This lifecycle is used when the product is well understood. Requirements are locked in during the planning phase. Any changes later usually require a formal change request. This provides high predictability but low flexibility.
Iterative: The goal here is to arrive at the correct solution through successive prototypes or versions. Requirements are revisited and refined based on feedback from the previous iteration. It focuses on the " correctness " of the solution.
Incremental: This life cycle delivers a finished, usable portion of the product in each interval. Requirements for a specific " slice " of the project are defined and delivered, with subsequent increments adding more features until the total scope is met.
Adaptive (Agile): In highly uncertain environments, requirements are never " finished " until the project is. They are maintained in a Product Backlog and refined/prioritized just before the start of a sprint or iteration. This allows the team to respond to change and deliver value quickly.
Understanding these distinctions is crucial for the Project Integration Management knowledge area. The Project Manager must choose the life cycle that best fits the project ' s level of uncertainty, complexity, and the need for frequent delivery.
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