The four stages of a typical project management process are "starting," "planning," "doing," and "finishing." Between the do-it-and-check-it and wrap-it-up phases is where some models add a fifth "monitoring and controlling" stage. A project team's chances of success improve as they adhere to each step. A project is guided from its inception to its completion by means of a systematic framework of best practices known as the project management lifecycle. It offers a methodical framework within which project managers can plan, carry out, and complete their endeavors. A project's best chance at success can be ensured by following the steps outlined in the project management lifecycle. It's a process that, as a project manager, you should be familiar with.