This paper provides a review of the steps and stages associated with project management according to the Project Management Institute® (PMI). It is a primer for anyone new to the Project Management Body of Knowledge® (PMBOK®) and who is preparing to take the PMP exam. In order to understand how the PMI recommends that projects be run it is necessary to understand the project life cycle (PLC). The PLC is the framework around which project management activities are structured. It is a key concept in formal project management according to PMI. In this paper the structure and function of the PLC is introduced along with a number of related terms that are commonly confused.