Software Development Life Cycle (SDLC) refers to the process of developing software applications from planning and analysis to design, development, testing, and maintenance. It is a structured and systematic approach to software development, which aims to ensure the high quality of the software, minimize costs and risks, and meet the customer's requirements.

The typical phases of the SDLC are as follows:

1. Planning: In this phase, the project's scope, objectives, and requirements are defined, and a feasibility study is conducted.
   
   
2. Analysis: In this phase, the requirements are analyzed and documented. The development team identifies the inputs, processes, and outputs required to meet the project's objectives.
   
   
3. Design: In this phase, the system's architecture and detailed design are developed, including user interfaces, databases, and other components.
   
   
4. Implementation: In this phase, the development team writes the code and creates the software application.
   
   
5. Testing: In this phase, the software is tested to ensure that it meets the requirements and is free of bugs.
   
   
6. Deployment: In this phase, the software is installed and released to the end-users.
   
   
7. Maintenance: In this phase, the software is monitored and updated to ensure that it continues to meet the requirements and operate correctly.
   

Each phase in the SDLC is essential and contributes to the overall success of the project. The process can be iterative, meaning that each phase may be revisited multiple times until the final product meets the customer's requirements.