Life Cycle of a Sponsored Project The life cycle of a project follows four steps: propose/finalize award, setup, manage, closeout. Learn more about these phases below. Pre-Award Phase: Principal Investigator Office of Sponsored Programs Business Manager Department Head Post-Award Phase: Business Manager Post-Award Accountant Principal Investigator Business Manager Department Head Post-Award Accountant Principal Investigator Business Manager Authorized Organization Representative (AOR) (Office of Sponsored Programs) Department Head Post-Award Accountant