Can you explain the life cycle of a project? What steps are followed in order to create setups? Can you explain the entire life cycle?

A typical project life cycle consists of five phases: Initiation, Planning, Execution, Monitoring & Control, and Closure. In Initiation, the project’s purpose, scope, and feasibility are defined. Planning involves detailed work breakdown, scheduling, budgeting, risk assessment, and resource allocation. Execution is the phase where the actual work is performed, teams deliver outputs, and project managers coordinate tasks. Monitoring & Control runs in parallel with execution, tracking progress against the plan, managing changes, and ensuring quality. Closure involves finalizing deliverables, obtaining stakeholder sign‑off, releasing resources, and conducting post‑project reviews. When creating setups—such as configuring a new system or process—the steps mirror this life cycle: gather requirements (Initiation), design the configuration (Planning), implement the setup (Execution), test and validate (Monitoring & Control), and document lessons learned (Closure). This structured approach ensures consistency, reduces risk, and delivers predictable outcomes.