''Project management life cycle consists of sequential phases which a project goes through from its beginning to its end. Every phase is connected to the other and all of it serves as a framework for managing a successful and effective project.

Project Management Institute (2017, p. 561-635) enumerates the five stages of process groups as follows: initiating, planning, executing, monitoring and controlling as well as closing. Moreover, the same institute defines methodology as "a system of practices, techniques, procedures and rules used by those who work in a discipline" (2017, p. 2).

Many project management methodologies emerged but the most popular is Agile Project Management. It was introduced when professionals concluded that the needs are not met by the "one size fits all". More discoveries have taken place, hence, flexibility to manage changes are required. Agile PM core principles are "customer-focused, iterative and incremental delivery, experimentation and adaptation and self-organization". (Larson & Gray, 2020, p. 563-567).

Whilst every project management life cycle stage is crucial and dependent on one another, I believe that Agile Project Management is most impactful during the Planning Phase. Simon & Murray-Webster (2018, p. 87) states that the Planning Phase also known as the "Definition Phase" aims to provide sufficient project details and establish project success during delivery. It is the part where requirements are stated and success criteria is defined. In my opinion, it serves as the blueprint of the entire project. If the plan is incorrectly defined, all the work that will be accomplished down the line will be ineffective as the right problem might not be solved and the right solution might not be identified. If what's needed is not understood or if scope is incorrectly outlined, then the whole project is doomed to fail. Planning phase serves as a guide in establishing projects. It reminds me of the quotation, "begin with the end in mind" where specific visions, missions and objectives must be clear right from the start in order to achieve the ultimate end goal.

However, as the saying goes, "not everything goes as planned". Hence, it may also be argued that the Monitoring and Controlling Phase is equally important because if it is not continuously done, the project may go wrong as well. Monitoring is about tracking the status while controlling is taking the actions needed. Both are required in order for the project to progress. Intricacy, timescale, finances and stakeholder demands are the factors that determine the project advancement. (Simon & Murray-Webster, 2018, p. 87).

To cite an example in a simpler situation the way I understand it, I think of financial institutions that are mostly targeted by fraudsters, most especially the banks. Each department of the aforementioned institution must have individual plan/s to avoid any breach and maintain security of the customers' account information. Different workarounds must have been identified to steer clear of scammers. However, as more fraudulent techniques and trends happen, it may become difficult for the banks to sustain a hundred percent security for their customers. Hence, active monitoring and controlling should be practiced regularly. If the dedicated departments fail to monitor and control the fraudsters' ways of obtaining unauthorized money from the customers' account, the banks will probably lose people's trust which will result in a decreased number of the customers they cater to. To address this issue, the banks will need to identify the trend of fraudsters and continuously upgrade the security systems by adding more verifications before every transaction goes through.

On the other hand, to ensure alignment between the lifecycle of the project and the implementation of a project management methodology, constant and open communication between the people involved are essential. With transparency, it will be easier to identify and discuss the evolving issues that need to be resolved.

In conclusion, Agile PM is most impactful during planning as well as monitoring and controlling phases because it is where most learning and realizations take place.''

Give an opinion to justify the above case study as project management lifecycle most impactful phase with references.