Unfortunately this is not true. Every project has an end and every project life cycle has an end too.
The last phase of any projects life cycle is the project closure/closing phase where the project is wrapped up and closed.
The product life cycle represents the amount of revenue a product generates over time, from its inception to the point where it is discontinued. A project life cycle measures the work that goes into a project from beginning to end. The phases in product life cycle are initiation, planning, execution, and closure.
From initiation/authorization to completion/closure, a project goes through a whole lifecycle that includes defining the project objectives, planning the work to achieve those objectives, performing the actual work, monitoring and controlling the progress, and closing the project after receiving the product acceptance or after cancellation of the project. A project management life cycle revolves around the life cycle of a project and the project manager manages the whole project life cycle.
The Project Management Life Cycle represents the development phases that a project can go through. An example would be Assess - Code - Test - Release It should not be confused with the Project Life Cycle.
The steps of the Project Life Cycle includes five steps. These five steps are project initiation, project planning, development, implementation and project closure.
The project life cycle differs by industry, organization, project type and encompasses sequential and overlapping phases. The product life cycle does not differ regardless of the type of product, has sequential but non-overlapping phases, and may include multiple project life cycles. Usually the project life cycle is wanted to be shorter but product life cycle longer.
The starting, organizing and preparing, and closing project life cycle stages tend to have aligning phases. The stage of carrying out project work does not align with single phase. Many phases may occur during this stage, depending on the nature of the project The project life cycle is made up of all the project phases.
The starting, organizing and preparing, and closing project life cycle stages tend to have aligning phases. The stage of carrying out project work does not align with single phase. Many phases may occur during this stage, depending on the nature of the project The project life cycle is made up of all the project phases.
InitiationPlanningExecutionMonitoring & ControllingClosing
Closing stage
evaluation phase
A project life cycle typically consists of stages such as initiation, planning, execution, monitoring, and closure. In the initiation phase, the project's objectives and scope are defined. Planning involves creating a detailed project plan. Execution is where the project work is carried out. Monitoring involves tracking progress and performance. Finally, closure involves formally ending the project and capturing lessons learned.
All the phases in a project make up its entire life cycle. The stage of carrying out project work does not align with a single phase. The stage of carrying out project work may be divided into many phases, depending on the nature of a project.