Every project has a life cycle with different phases. The phases of a project life cycle depend on the type of industry or the specific nature of the project.
Common phases of a project are: initiation, planning, execution, and close-out. Other terminologies include: concept, development, implementation, and close-out. Click here to see a perspective life-cycle
The management of the activities that comprises each phase only differ in terms of the amount of emphasis that are placed on the planning, organizing , and controlling that occur at that stage.
This is a good point to read the appropriate chapter identified on the syllabus. You might also want to review the PowerPoint slides that came with your textbook for the appropriate chapter.