5 Phases of the Project Life Cycle: How Agile & Waterfall Teams Approach Each Stage

Every project follows a journey, from the initial idea to its final delivery. This journey is broken down into five key phases that help guide the project to successful completion. How teams approach these phases can vary, especially depending on the methodology they use—Agile or Waterfall.

In this blog, we’ll take a closer look at the five phases of the project life cycle and explore how Agile and Waterfall teams approach each stage. This will give you a better understanding of how these methodologies shape project execution and which might be more suited to your project’s needs.

What Is the Project Life Cycle?

The project life cycle is the process a project goes through from start to finish. It includes all the steps needed to complete the project, from planning to finishing the work. It helps make sure everything is done in the right order and that the project stays on track.

Overview of the Project Life Cycle in Project Management

The project life cycle is a simple way to organize a project from start to finish. It breaks the project into clear phases, helping teams manage tasks, resources, budgets, and timelines. This makes it easier to track progress and stay on target.

Each phase builds on the one before, allowing project managers to make adjustments as needed. While the main phases—Initiation, Planning, Execution, Monitoring and Controlling, and Closure—are the same in most projects, teams may handle them differently depending on their approach.

These stages help standardize how projects are delivered, set clear milestones, and ensure accountability. In fact, a study published in the International Journal of Project Management highlights that structured life cycle models significantly contribute to project success by promoting clearer communication, better resource utilization, and improved risk mitigation across teams (Turner, J. R. (2016),International Journal of Project Management). This evidence underscores the life cycle’s role not just as a theoretical model but as a practical tool for delivering results.

Who Manages the Project Life Cycle?

The responsibility typically falls to a Scrum Master vs Project Manager, depending on the methodology. These professionals guide the team through each phase, making informed decisions, coordinating stakeholders, and adapting as challenges arise. Their role demands a deep understanding of both technical execution and interpersonal communication to keep projects aligned with business goals.

• In Agile frameworks, scrum masters facilitate daily standups and sprint reviews.
• In Waterfall environments, project managers focus on tracking progress against set milestones and deliverables.

The 5 Phases of the Project Life Cycle

The following five phases represent a structured approach to managing any project from beginning to end. These phases help teams maintain focus, align on objectives, and measure success at every milestone.

1. Project Initiation Phase

This is the starting point where the project is defined. The project’s purpose, goals, scope, and key stakeholders are identified. A project charter is usually created during this phase to outline the overall vision and objectives.

Example: A company plans to launch a mobile e-commerce app. In the initiation phase, the team defines the app’s purpose, target audience, and key features like search, shopping cart, and payment options. They conduct a market analysis and create a project charter with goals, timeline, and budget, which is presented to leadership for approval.

2. Project Planning Phase

Once the project is approved, the planning phase kicks off. It involves breaking down the project into tasks, setting timelines, assigning resources, and identifying potential risks. During this phase, a project manager creates a roadmap that outlines what needs to be done, when, and by whom. The goal is to ensure that everyone knows their responsibilities and the project stays on track.

Example: The team divides the work into tasks like design, development, testing, and marketing. They create a timeline with milestones and assign resources, including developers and designers. Risks, such as delays, are identified with plans to address them, and a communication plan is set to keep everyone informed.

3. Project Execution Phase

This is where the actual work begins. The project plan is put into action, tasks are completed, resources are used, and progress is monitored. Communication among team members and stakeholders is crucial to keep everything on track during this phase.

Example: In the execution phase, the development team builds the app, the design team works on the interface, and marketing prepares promotions. Regular meetings track progress, solve issues, and ensure the project stays on schedule. The app’s first version is developed, and internal testing starts.

4. Project Monitoring and Controlling Phase

Throughout the execution phase, the project manager monitors progress to ensure it’s on track. This includes tracking milestones, addressing issues, managing changes, and ensuring the project stays within scope, time, and budget.

Example: The project manager tracks the app’s progress, addresses delays, and adjusts resources as needed to stay on schedule and within budget. Regular updates are given to stakeholders.

5. Project Closing Phase

This is the final step where the project is completed and officially closed. It involves delivering the final product, completing any remaining tasks, and ensuring all objectives have been met. This phase also includes finalizing documentation, conducting a project review, and gathering feedback to identify lessons learned for future projects.

Example: In the closing phase, the mobile e-commerce app is officially launched. The team finalizes documentation, conducts a review of the project, and gathers feedback from stakeholders. Any remaining tasks are completed, and the project is formally closed, with lessons learned for future projects.

How Agile & Waterfall Teams Approach Each Stage in the Project Life Cycle

While both Agile and Waterfall follow the same core phases, their execution is vastly different. Explore more in this guide on Agile Project Management vs Waterfall to determine which method, or blend, suits your project needs.

How TaskFord Helps Manage the Project Life Cycle

TaskFord - The Integrated Work Delivery Platform is built to support teams at every stage of the project life cycle, whether you follow Agile, Waterfall, or a hybrid approach. Its flexible feature set allows project managers to tailor workflows based on project complexity, timeline, and team structure.

• For Agile project life cycle teams:

TaskFord offers dynamic Kanban boards, sprint backlogs, and real-time collaboration tools that make it easy to prioritize tasks, track progress, and adapt to change. Agile users can manage iterative delivery cycles with built-in retrospectives and velocity tracking to continuously improve performance.

• For teams practicing Waterfall project management:

TaskFord provides robust Gantt charts, milestone tracking, and resource planning tools. These features ensure linear progress with clear dependencies, scheduled deadlines, and full visibility into each phase, from initiation to closure.

• Need the best of both worlds?

TaskFord supports hybrid project management through customizable templates that combine iterative workflows with fixed planning. Whether you’re running a traditional rollout with Agile development cycles or managing complex programs with parallel streams, TaskFord gives you the flexibility to choose what works best.

Conclusion

Mastering the Project Life Cycle is essential for project managers, whether they follow Agile or Waterfall practices. Each methodology has unique strengths that align with different types of work and organizational needs.

With TaskFord, you’re equipped to manage every phase with clarity, flexibility, and precision. From initiating a project to closing it with confidence, TaskFord supports your workflow, no matter the methodology.

Explore more insights in our Agile Project Management and Project Management Guide.