Project life cycle is something customizable, alterable and according to the need of the project, highly customizable let us take an example to understand this process, a human development is a project. So, our life cycle is
5) adulthood and
If it was an IT project it could be like:
1) high level design
2) detail design
3) coding and testing
4) implication the before mentioned is a project life cycle (considering human as a project).
The term cycle is actually confusing because nobody reborn again after death but once you handover the product you may not be redesigning it again. It’s not actually a cycle it’s a sequential steps of a various phases of a project and these phases are unique to a particular project’s need. So one can make an own project life cycle, a project lifecycle may have 1 phase or multiple phases like examples mentioned earlier. There is no single way to define an ideal project structure. For example: X company considers feasibility as the first phase of a project, another may treat as a third phase of the project or some other company like thechilliegroup.com.au may not include it in the process at all.
Overall the project management has 5 process groups
4) monitoring and controlling
5) closing these are some fundamentals and one cannot play around much here.
Project management is quite confusing but, let’s discuss what we do in real life, for small projects we really dumb things down, we simplify things, instead of attaching process groups to every single phase of a life cycle (take the same human development example) like with conceiving process groups, development process groups (like initiation, planning, executions, M&C and closing) and so on; instead of doing that (as it may complicate things more) we attach the process group to a single phase project life cycle. This makes things really easy to run the project for us, why make things complicated when we can make things simple. So the project life cycle is initiation, planning, execution, M&C and closing. For those who are planning to pursue the career in PMP and wants to get the PMP degree, don’t do that because learning project management is better for you and will definitely help you more, it’s an awesome complimentary practice. Because every company has their own methodology of project handling and frameworks, so instead of spending plenty of money and multiple hours in getting a certificate which one won’t even use, we suggest to follow a proper project management learning program, which can show how one achieve the promising career one dreamed of.