In this master's thesis, the project life cycle phases were analyzed using the examples of the Reconstruction of the Entrepreneurship Incubator „Pazin Up“ and „Barban“. The research aimed to study the concept of the project life cycle and apply it to specific examples. The introduction provided a definition of a project and project management, emphasizing the importance of understanding the project life cycle. Subsequently, the initiation, planning, execution, control and monitoring, and project closure phases were thoroughly analyzed using the examples of the „Pazin Up“ and „Barban“ entrepreneurship incubators. The analysis included a description of each phase, its specific characteristics, challenges faced by the projects, and the application of appropriate project management methods and tools in each phase. The research demonstrated that understanding the project life cycle is crucial for successful project management, and the findings can serve as guidelines for future projects of a similar nature in the field of entrepreneurship and local development. The thesis highlighted the importance of continuous risk management and timely adaptation to changes throughout the project life cycle to achieve desired results. The examples of the „Pazin Up“ and „Barban entrepreneurship incubator“ projects underscored the significance of comprehensive and coordinated management in each phase to achieve desired outcomes. Various project management tools were employed, such as Gantt charts, risk analysis, resource management, and project progress monitoring.