Iterative life cycle:
Based on the PMBOK Guide:
/"A project life cycle in which the project scope is generally established early in the project life cycle, but time and cost estimates are periodically changed as the project team's understanding of the product increases. Iterations develop the product through a series of repeated cycles, while increments successively add to the functionality of that product."
This lifecycle aims to create rich learning opportunities. The goal here is to collect feedback frequently before the final product is achieved. This feedback helps the team learn about the expectations of the customer and other stakeholders. This lifecycle assumes that requirements are abstract. And real feedback comes when the customer and other stakeholders can see a result or part of the product.

In summary, this life cycle states:
We cannot build a complete product based only on approved requirements. We need to give and collect feedback regularly. We need to continuously learn and refine the product base based on these insights.

It is an example of repeated development and refinement and makes this life cycle iterative. We arrive at the final product after continuous refinements or iterations. And as a result of the feedback, we are open to making changes to any developed part of the product. Changes are no exception here. These are welcome in iterative development.
We move on to the next iteration after adjusting the backlog based on the insights from the feedback.

We deliver a result at the end of each iteration. We don't wait to deliver a complete result or product at the end of the project.
We develop, refine and demo iteratively to gain learning opportunities. This process helps deliver the right product.

#Projectmanagement #pmpcertification #pmpexam #iterative

Please take the opportunity to connect with your friends and family and share this video with them if you find it useful.