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There are 4 main processes in Project Lifecycle :

1) Initiating:Involve starting up the project by preparing...
• Business case
• Feasibility Study
• Project Charter
• Job description

What is Project Charter?
It is a kickoff document to initiate the project where it helps to define the scope. What can we gain from Project Charter? Eg ; Roles and responsibility, customers and project stakeholders, risks and issues, complete scopes of the project and many more..


2) Planning :
Starts PLAN the work! How can we plan the project? Through the following tools :
• WBS – Work breakdown structures (detail on something ). Eg : From WBS, we could plan the budget based on WHO, WHAT,WHEN etc…
• Gannt Chart – Planning of the project based on activity and timeline.
• TOC- Table Of Contents or Data of dictionary.


3) Executing :Involves building the deliverables and controlling these parameters..
• Status reports
• Changes on scope, cost, etc
• Task List (issues that might be)
• Deliverables
• Forecasts the progress and performance


4) Closing / closure
• Closed out documents
• Releasing staff
• Handling over deliverables to the customer
• Complete post implementation review

Links : http://en.wikipedia.org/wiki/Critical_path_method
http://en.wikipedia.org/wiki/Work_breakdown_structure