The Project Lifecycle refers to the series of phases that a project goes through from its initiation to its completion. Typically, it includes five main stages: Initiation, Planning, Execution, Monitoring and Controlling, and Closure. Each stage has specific tasks and deliverables that help ensure the project meets its goals and objectives. During the Initiation phase, the project's feasibility is assessed, and key stakeholders are identified. In the Planning phase, detailed plans are created, including timelines and budgets. The Execution phase involves carrying out the project tasks, while Monitoring and Controlling ensures everything stays on track. Finally, the Closure phase wraps up the project, evaluating its success and documenting lessons learned.