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- A project phase is a collection of logically related project activities that culminates in the completion of one or more deliverables. Phases allow the project to be segmented into logical subsets for easier management and control. Each phase typically ends with a phase gate or milestone review where the deliverables are evaluated and a decision is made to continue, modify, or terminate the project. A phase is not a single task, not merely the time between milestones, and not just any supervised activity.