Question: Predictive, or plan - driven project life cycles, and agile, or change - driven life cycles, are two different approaches to managing projects. Each type

Predictive, or plan-driven project life cycles, and agile, or change-driven life cycles, are two different approaches to managing projects. Each type of life cycle has its own characteristics, advantages, and suitability for different types of projects.
1. Predictive, or plan-driven project life cycles:
- Characteristics: In a predictive life cycle, the project is planned in detail upfront, and the scope, timeline, and deliverables are defined at the beginning. The project progresses through sequential phases, such as initiation, planning, execution, and closure, with minimal room for changes or flexibility during the execution phase.
- Advantages:
- Clear planning and defined scope: The upfront planning allows for a clear understanding of project requirements and objectives.
- Stable environment: Predictive life cycles work well in stable environments where requirements are unlikely to change significantly.
- Comprehensive documentation: The emphasis on planning results in detailed documentation, which can be beneficial for compliance and audits.
- Suitability:
- Well-understood projects: Predictive life cycles are suitable for projects where requirements are well-understood and unlikely to change significantly during execution.
- Fixed-price contracts: When working with fixed-price contracts, where scope changes can be costly, a predictive life cycle provides more control over the project's execution.

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