10. Elaborate on the life cycle of a Project.
When the range of activities necessary to complete project work varies, a project has multiple phases. There is a definite "start" phase, which is followed by a phase of organizing and preparation. "Carrying out" refers to the project's actual execution. The "closing" phase ensures that the project's temporary operations are concluded in a systematic manner. Phase gates, exits, milestones, and death points are all terms used to describe the points in time where phase shifts occur. If a project should be closed, it is decided at these stages based on its performance or whether the project's requirement has vanished.
