The Project Management Life Cycle (PMLC) is the overarching discipline used for the selection, acquisition, and maintenance & operation of enterprise intensive systems covering the full range of life cycle activities from initiation to closeout and lessons learned.
Initiation: In the Initiation phase the overall project parameters are defined, the Project Concept Statement and Project Charter are developed and approved to start the project.
Planning: The Planning phase includes all the activities necessary for the project office to acquire the resources needed to establish the project staffing, project infrastructure and stakeholder accountability, along with all the project plans.
Execution and Control: During this phase, the project office executes all of the plans, processes, and procedures summarized and referenced in the Project Management Plan with particular attention to the production and quality of deliverables, and include monitoring of resources, quality, risks and issues, schedule, costs, requirements status, and overall project status.
Closing: The closeout phase includes all the activities necessary for the project office to bring closure to the project effort, either upon system acceptance and transfer to its support organization, or upon system retirement or replacement.
Lessons Learned: At the end of the each phase of the PMLC, a phase review is conducted and lessons learned are documented for future consideration.