What are the stages of the project management lifecycle?

• A. Planning, execution, monitoring and budgeting
• B. Initiation, planning, execution, monitoring, and closing
• C. Analysis, approval, execution, and delivery
• D. Initiation, assessment, execution, and evaluation

Answer: (B)

The stages of the project management lifecycle are correctly identified as initiation, planning, execution, monitoring, and closing. This framework provides a structured approach to managing projects from start to finish and helps ensure that all critical aspects are covered effectively.

In the initiation phase, the project's feasibility is evaluated, and objectives are defined. This sets the groundwork for everything that follows. The planning phase involves detailing the project scope, creating a timeline, allocating resources, and identifying risks, which are crucial to the project's success.

The execution phase is where the actual work is carried out, and project deliverables are developed and completed. During this stage, team members perform their tasks, and project managers ensure that everything is on track.

Monitoring, which occurs concurrently with execution, involves tracking the progress and performance of the project to ensure it aligns with the established plan. This stage allows for timely adjustments and interventions if things deviate from the expected course.

Finally, the closing phase wraps up the project by finalizing all activities, obtaining stakeholder approvals, and evaluating overall success and learnings, which contribute to future projects.

In comparison, the other options present variations or incomplete stages that don't encompass the comprehensive structure required for effective project management, thereby lacking the thoroughness that the chosen answer