The Project Lifecycle: A Basic 4-stage Lifecycle model

The video explains the project life cycle by comparing it to the human life cycle. It outlines four stages: definition, planning, delivery, and closure. Each stage is described with various terms used in different industries and regions. The definition stage focuses on defining the project, the planning stage on designing and mobilizing resources, the delivery stage on executing the project, and the closure stage on finalizing and reviewing the project.

Why is the initiation stage important in the context of project management?

What does the delivery stage of a project entail?

What are the common terms used for the final stage of a project?