What are the phases of the traditional project life cycle?

The traditional project life has 5 phases which are: project initiation, planning, execution, monitoring and controlling, and closure. In the project initiation phase, the project manager and its members work on the objectives of their goal. During the next period, the purposes of their project are identified such as business opportunities or problems they will encounter.

When the plan is approved, all the steps needed to comply and take the next actions are worked on. Progress of the project is carefully monitored, and communication among members is essential to complete the project further. Once all the deliverables are complete, the project will be ready to release to the customers.