According to the PMBOK® Guide, a project is a temporary endeavor with a definite beginning and end. To provide better management control and appropriate links to the ongoing operations of the performing organization, projects are often divided into several project phases.

Definition of Project Life Cycle: The project life cycle is the series of phases that a project passes through from its start to its completion. It provides the basic framework for managing the project, regardless of the specific work involved.

Phase Characteristics: Each phase is a collection of logically related project activities that culminates in the completion of one or more deliverables. Breaking a project into phases allows the project manager and the organization to perform " phase gates " or " kill points, " where the project ' s performance is reviewed against the business case before moving to the next phase.

Generic Structure: While specific life cycles vary by industry (e.g., software development vs. construction), the PMBOK® Guide identifies a generic life cycle structure:

Starting the project (Initiating).

Organizing and preparing (Planning).

Carrying out the work (Executing).

Ending the project (Closing).

Adaptability: The project life cycle can be predictive (plan-driven), iterative, incremental, or adaptive (agile/change-driven), depending on the degree of certainty regarding the scope and the frequency of delivery.

Comparison with other options:

A. Complete project phase: This is not a standard PMI term. While a project has phases, the collective group of phases is not called a " complete phase. "

B. Project life: While colloquially used, " Project Life " is incomplete. The formal standard term for the management framework is the Project Life Cycle.

D. Project cycle: This is a vague term. PMI specifically uses " Life Cycle " to denote the progression from initiation to closure.