A project life cycle is the series of phases that a project passes through from its initiation to its closure. The phases are generally sequential, and their names and numbers are determined the management and control needs of the organization or organizations involved in the project, the nature of the project itself, and its area of application.
Life cycles are important because they demonstrate the logic that governs a project. They are a methodology for the preparation, implementation and evaluation of projects based on the principles of the logical framework approach (LFA)
PMC involves regulating and supervising various activities undertaken in each phase of project cycle to ensure that projects are; Relevant to the beneficiaries; Supportive of the policies of the sponsor e.g. GOK, donor parties like USAID, etc.; Feasible and effective.
Activities of PMC
- Policy setting
- Project identification
- Formulation/planning and designing
- Implementation execution of plan
- Monitoring and midterm evaluation
- Final evaluation and closure/ phase-out
N/B There is no standard project life cycle activities or phase this varies from one organization to another depending on the project type and demands of the sponsor and organization implementing the project. However there five steps which are considered conventional phases;