The selected project life cycle is a characteristic of the project that is needed to determine the approach so that the business analyst can validate whether they will need to have a discussion about the budget. The project life cycle is the sequence of phases or stages that the project goes through from initiation to closure. The project life cycle can be selected based on various factors, such as the nature, complexity, size, and uncertainty of the project, the stakeholder preferences, the organizational culture, and the industry standards.
The project life cycle can influence the approach that the business analyst and the project team use to plan, execute, monitor, and control the project, and to deliver the product or service. The project life cycle can also affect the budget, schedule, scope, and quality of the project, and the level of stakeholder involvement and communication. Therefore, the business analyst should understand the selected project life cycle and its implications for the project, and validate whether it is appropriate and feasible for the project, and whether it requires any adjustments or discussions with the stakeholders. References: PMI Professional in Business Analysis (PMI-PBA)Examination Content Outline1, page 15; Business Analysis for Practitioners: A Practice Guide2, page 84.