HKSM

A project life cycle in which the scope is largely set near the beginning, while time and cost forecasts are continually updated as the team gains deeper insight into the product. Work is organized into iterations that revisit and refine the solution, and into increments that progressively add new features.

Key Points

• Scope is defined early; schedule and budget are refined over time as learning occurs.
• Iterations focus on reducing uncertainty and improving the product through repeated cycles.
• Increments add usable functionality step by step with each cycle.
• Useful when requirements are understood at a high level, but details, effort, and timing are uncertain.

Example

A company plans a customer portal with a clear set of high-level capabilities (registration, profile, order tracking). The team sets the initial scope, then runs three-week iterations: first to validate the architecture and basic navigation, then to refine performance and usability, and finally to add features like notifications. Estimates for time and cost are adjusted after each iteration as the team learns more.

PMP Example Question

A project has a well-defined high-level scope, but the team expects to refine effort and schedule as they learn more. They plan repeated cycles to improve the solution and deliver new features over time. Which life cycle best fits?

1. Predictive life cycle
2. Iterative life cycle
3. Incremental life cycle
4. Agile life cycle with no defined scope

Correct Answer: B — Iterative life cycle

Explanation: The scope is set early, while time and cost are progressively refined through repeated cycles that improve the product and add functionality.