5 points A project life cycle will only ever consist of four phases. will always have a phase cal led 'visioning'. reduces the amount of planning necessary. must be dogmatically followed. can vary based on the industry. 5 points For companies of moderate-to-large size, it is not unusual to have hundreds of small projects ongoing concurrently. The advent of many small projects has created the need for an organization that can support management. portfolio concurrent product program multi-project