Project lifecycle and it's explanation

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Project lifecycle refers to the stages a project goes through from initiation to closure.

The project lifecycle typically includes initiation, planning, execution, monitoring and control, and closure.
During initiation, the project is defined and its feasibility is assessed.
Planning involves creating a detailed project plan, including timelines, budgets, and resource allocation.
Execution involves carrying out the plan and completing the project deliverables.
Monitoring and control involves tracking progress and making adjustments as needed.
Closure involves wrapping up the project and evaluating its success.
Examples of project lifecycles include the Waterfall model, Agile methodology, and PRINCE2.

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