To decide how many life-cycle phases to have depends upon particular project need, an outcome of the project, resources, budget, time-limit and many other factors and having more number of life-cycles definitely affects these factors very negatively.So here are some important benefits of having six or less life-cycle phases in managing any project:• Time: Each life-cycle involves the “gate review meeting”, so more life-cycles will definitely require equal number of gate review meetings and it will keep the project manager busy in managing the documentation of each gate review meeting. Loss of the important time can lead to ineffective, delay in project management. Fewer life-cycles can help the project manager to save the time which he can utilize for other tasks related to managing the project.• Analysis of Critical Decision Points: Each life-cycle phase contains critical decision points such as proceed, cancel, revise, scope, cost, quality, and schedule. If less number of project life-cycle phases meaning the project manager can get more time to analyze all the critical decision points thoroughly.• Restructuring of Failed Life-cycle: If there is failure execution of certain life-cycle phase then it can be restructured or redone if the original number of life-cycle phases is less than six. This is another major advantage.• Less Cost: We know that each life-cycle has a cost to be incurred. Having six or less life-cycle phases will obviously help to reduce the cost of the project.• Post Project Evaluation Phase: Having six or less number of life-cycle phases can help the project manager to add an important phase called Post Project Evaluation phase, which is a really important phase to understand the challenges, do’s and don’ts for future projects. So, above mentioned benefits help us understand that having six or less number of life-cycle phases in project management can definitely be beneficial for successful, efficient and cost-effective project management of an EPM system.